INTRODUCTION:

The pharmaceutical industry in India has reached a tremendous position. Currently it is ranked third in the globe by its value. India is anticipated to reach the peak in the size among the global markets. It affirms that competitive advantage is mainly reached by the Indian pharmaceutical sector by means of its cost effectiveness. In 2014-15, Foreign Direct Investment inflow of Rs 9,052 crores by the equity and in 2015-16, equity inflow of Rs 4,975 crores received by the pharmaceutical and drugs sector.

Drugs of Indian Companies are being exported to more than 200 countries across the world, having the US as a key market. An account of 20% Generic drugs are being exported worldwide in terms of size, it makes the country as the largest contributor of generic medicines globally and anticipated to develop in forthcoming years. The Indian Government has revealed the “Pharma VISION 2020” to make India as a leader of whole nation in the pharmaceutical industry. This can be achieved by means of participating and contributing more in corporate social responsibility in the society as customers are the main means of making the industry in to a successful firm and making them nationwide.

CORPORATE SOCIAL RESPONSIBILITY IN INDIA:

In India socially responsible activities are rapidly increasing in the current business environment. CSR refers to a method that the company associate with society to promote overall goodness to the society, community and public from where they are doing business. The primary objectives of Corporate Social Responsibility is laying on facts that Government alone need not spent for welfare of society corporate contribute sufficiently to deal with societal matters When Compared to other nations India has ancient heritage of Corporate Social Responsibility. Although CSR practices are routinely not being practiced it is being done simply in tag manner particularly by MNC’s. CSR activities are emotionally and culturally attached to Indians. A lot has been done in the past few years to create awareness to the Indian businessman to be attentive of CSR as a key part of their trade activity but Corporate Social Responsibility in India until now to obtain extensive gratitude.

In India, Corporate Social Responsibility tends to concentrate on what has been done with profit after they have been made. Alternatively, to sustain in CSR is about factoring the communal and atmosphere impacts of performing the business, i.e., how profits has been made. Hence, a lot of the practices of Indian CSR are the key component of sustainability or consciousness of business, which is a superior deliberation, a fact that is apparent from various sustainable structures.

Business opportunities provided by CSR is an advantage to encompass brand equity and reputation in the rising economies. Most of the Pharmaceutical business giants are now concentrating on CSR programs and develop dedicated groups to execute different CSR initiatives. Most of CSR initiatives by the pharmaceutical administrative enhance the individual companies brand image employee satisfaction.[1]

Why CSR?:

There are certain factors by which corporate social responsibility has become more indispensable factor in the modern market.

Image of Public: -

Corporations and companies which contributes more towards the social responsibilities are amenable. Communicating the messages regarding to your company’s humanitarian approach will play a vital role in developing public image as it replicates as a selfless part of the company.

Relation of Government: -

Organization should create a positive perception towards the society about their concern that they are social responsible. This will create a good image on the industry and they can create good rapport between the government officials and to avoid investigations and probes.

Customer and Employee Engagement:

Employees are the backbone of the organization they are also considered as customers. To communicate with customer good quality information is required which should benefit the customers then only customers will start to believe about the good cause of actions of social responsibility done by the organization .This will have a positive reach to the public. Now a days’ generation are striving and they are in the stable look for associating with corporations which is having a superior public image and responsible CSR activities

Corporate Social Responsibility (CSR) in Pharmaceutical Industry in India:

In the context of corporate social responsibility Pharma companies have to shift from a narrow classification of CSR and should look at various broad perspectives which will reduce the poverty and increase the standard of living of customers as well as society. CSR is a notion whereby Pharmaceutical corporation is not only thinking about their profitability and development, but about the welfares of people and the surroundings by enchanting duty for the impact of their behavior on stakeholders such as staff members, shareholders, clients, merchants, and civil society symbolized by NGOs. CSR is becoming gradually well-known in the Indian corporate settings since corporations have appreciated besides growing their businesses. It is also essential to have responsible and sustainable relationships with the public.[2]

Several companies in the pharmaceutical division are improving their CSR responsibilities. Several corporations have got prizes for their CSR qualifications and it certainly elevates their shape among the minds of the public. The view point of Human Resource department is that the society is able to attract the work for a company that has an optimistic, vibrant picture. Corporations are also captivating a more discernible position on global topics. A lot of pharma companies in India connected with worldwide healthcare charities and nonprofit organization to contribute into healthcare issues that affect our country and provide funds for private and public sector to resolve the crisis. All huge pharmaceutical corporations have increased CSR programs. Many firms carry out immoral medical tryouts, have untruthful marketing performs, and regularly may not do the right thing from a business point of view. To alleviate the negative community observation and regulatory lapse, they may board on CSR programs to contradict their initial unprincipled practices. This is not acceptable. A pharmaceutical company should first stand by all laws, and perform their daily business practices in an apparent and moral way, then put in CSR to the company mandate and as a positive count to the company’s name.[3] Fortunately, a lot of pharmaceutical firms live by this hymn. So the responsibility is on the pharmaceutical industry to do enhanced and practice morale in everyday business, and make their CSR plans as a count to this baseline of principles. Then the pharmaceutical industry will be brought into line with their practices and their mission statements and societies’ anticipations. i.e., motivating profit and helping society by saving as many lives as possible.

Every pharmaceutical corporation has some outline of CSR. The CSR schemes surrounded by these companies typically contain many modules. For example, the majority of the pharmaceutical companies is having domestic patient support programs and work with intercontinental NGOs to allocate medicine or erect medical infrastructure. These domestic CSR plans give support where the government or private insurance has broken. For example, if somebody doesn’t have medical aid, and also insurance, lots of pharmaceutical companies are willing to supply free drugs.

“Social” responsibility can be understood at this point in the context of “societal” responsibility—i.e. a responsible in the direction of the public in a common way. Corporate Social Responsibility in the Pharma industry, while in some other sectors, covers responsibility with changing scales of commitment. [4] A dissimilarity (it is in sensible business groups is not much intelligent as it denotes) shall be sketched among what is involved in industry by society—they “must do” in the social responsibility dimension, in this consensus of society goes without saying, following can be given: giving products and services in a optimum quantity and at a fair price, good compliance with general laws and regulations, providing employment in the fair wage rates and at good working conditions, making good profits, and taking strategic choice decisions; compliance of the “must” elements is the necessary and minimum standards for a company’s sustainable existence. anticipation of business by society—the “ought to do” aspect of socially responsible, which that is less attaching than these wrapped by the “must” aspect but this is the majority peoples (and severe ventures) in current society still consider as “good corporate citizenship behavior”; this aspect encompasses additional-legal requirements like keep away from disputed practices and being good and receptive to genuine concerns of fair-brain beneficiaries as well as working genuinely ahead of legal obligations there limited legal circumstances don’t convene informed rules, such as in a view to societal and situational behavior.[5] A succinct catalogue of the aspect of socially responsible is the 10th of the UNG (United Nations Global Compact).

CSR activities of the Pharmaceutical Industries – A Snap-Shot:

Sun Pharma-Sun Pharma started and began its operations in 1983 with 5 products to care for psychiatry ailments. Volumes of sales rolled out worldwide in 1985. Main products in Cardiology were later added. In Sun Pharma, they construct good healthiness, reasonable and reachable to the marginalized society and the community at large. With vigorous fieldwork, devoted research and appreciation of the attempts of those who work they make sure they Education, health, water, and calamity relief centers are some of their main concerns of Corporate Social Responsibility. They also facilitate the training in vocational skills for the public and undertake limited-level communal programs which are necessary for the society.[6]

Cipla-Social responsibility is at the main aim of Cipla pharmaceutical. Cipla was registered in 2011 in order to take care of Cipla’s socially centered heritage business forward. It reflects Cipla’s persistent promise to develop the lives and aspires to build access and affordability to the most helpless groups in the public. It is driven by a vision that ‘no one will be denied’, the Cipla’s Foundation bears communities which concentrates on programs following themes like wellbeing, education, skill progression and calamity response.[7]

The company has been engaged in activities like health providing palliative care for ill patients, supporting cancer/ HIV / thalassemia patients is done. They are also engaged in education and awareness programs to the society, addressing social inequalities, promoting environmental sustainability and rural development projects.

Dr. Reddy’s Laboratories-it was found in the year 1984. Dr. Reddy’s Laboratories is a universal pharma corporation and it is running three major trades Pharmaceutical subsidies and Active elements, encompasses the vibrant Pharmaceuticals and Customized Pharmaceuticals companies; world Generics, branded and unbranded generics are in this context; and entrepreneurial Products, this consist of NCEs, distinguished formations, and general Bio pharmaceuticals. The products of the company are being marketed worldwide, amidst concentration in India, United States, European Union and Russia. This company carries out NCE doing and developing research in metabolic disorders, cardiovascular indications, anti-invectives and inflammation areas.[8]

In practicing social responsibility they recognized the needs and precedence of the community and executed social related programs that authorize the community by generating urban and rural livelihood, good quality education, supporting socially relevant modernization in society, etc.

Lupin- Lupin healthcare a pharmaceutical company was started in 1968. Lupin Limited commissioned its plant in 1980, in Aurangabad. It also formulated plant, Research and Development center. In India they started many manufacturing units and Research and Developments centers for the betterment of country. Since then it is socially responsibly corporation, it attempts to care for the weaker people in our society. It has also built Human Welfare and Research Foundation of LUPIN (LHWRF) for the betterment of the society. The establishment is flourishing in creating huge differences in the poor villages, and particularly in the lives of the backward of the weaker and empowered at huge range. LHWRF’s CSR staffs are engaged only for the activities of CSR.

In beginning, the campaign of Rural growth started around 35 tiny villages, Human Welfare and Research Foundation of LUPIN, is now being successful in Rajasthan, Madhya Pradesh, Maharashtra and Uttarakhand States of India by stimulating, refurbishing and recreating life in 2,200 villages, which has been led to Human Welfare and Research Foundation of LUPIN budding as one of the largest NGOs in India. It is executing Lupin Corporate Social Responsibility activities in India. This group is registered under Societies act/ trust acts and has got an exemption under 35 AC and 80 G. Human Welfare and Research Foundation of LUPIN has also got permission to get financial support from other countries by its FCRA account. LHWRF is having 65 employees with its 700 project base employees.[9]

Piramal Healthcare- Piramal Healthcare Company is globally incorporated health care company which was established in 1988. They are aiming to accomplish unmet medical wants around the world, stimulated by mission to decrease disease in the world. Piramal Healthcare is not considering Corporate Social Responsibility like an obligation but also as an opportunity to serve people.[10] Piramal Healthcare Ltd. is devoted to summit a grassroots level dispute which exists in our society and find long period and sustainable resolutions to that challenge.

CONCLUSION:

Now a day’s corporates are doing CSR activities of renowned Non Government Organizations who know about the works and the kind of activity needs to be done because they are working with the local people and can understand the needs of people. They are also well versed in handling the problems of the local people. From the view of sustainable initiatives, companies are really showing their abilities to make an important difference in the particular society, and they are also trying to improve the quality of life as a whole. In India with respect to the current circumstances, an entity can’t make a huge change and develop the society. Pharma companies are having huge and experienced manpower and well versed establishments which they are thinking in a strategic way to survive in the society, compete with competitors, also to facilitate social change. They are good partners with NGOs and also with the Government. It will place India’s Social development on quicker track in a healthy way.

WEB REFERENCES:

1. https://en.wikipedia.org/wiki/Evolution_of_corporate_social_responsibility_in_India#cite_ref-1

2. http://www.die-gdi.de/CMS Homepage/openwebcms3.nsf/%28ynDK_contentByKey%29/ENTR7BMDUB/$FILE/Studies%2026.pdf

3. http://irjbm.org/irjbm2013/jan2015/spaper4.pdf

4. http://www.pharmiweb.com/features/feature.asp?ROW_ID=630#.WPmd4_mGO00

5. http://www.indianyouth.net/importance-corporate-social-responsibility-csr/

6. http://www.sunpharma.com/responsibility/csr

7. http://www.cipla.com/templates/home_tpl/images/Corporate_Social_Responsibility_Policy.pdf

8. http://www.drreddys.com/media/125014/csr-policy.html

9. Available from https://www.linkedin.com/pulse/corporate-social-responsibility-indian-context-anshuman-biswal

10. https://wakespace.lib.wfu.edu/bitstream/handle/10339/47457/Brewer_wfu_0248M_10646.pdf

Received on 02.09.2017 Modified on 25.09.2017

Research J. Pharm. and Tech 2018; 11(4): 1663-1666.

DOI: 10.5958/0974-360X.2018.00309.8