The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled “Corporate Social Accountability In India” was published on June 14, 1989, and was authored by Dr. G.R.S. Rao. The author explores the concept of Corporate Social Accountability in the Indian context. He opines that in the Indian context, industrial growth is seen as a panacea for all problems of poverty. Economic growth is seen as the essential means to promote social development. Rao briefly touches upon the Sachar Committe report which observed the need for industry to become socially responsive and the need for legislated minimal standards. He further analyzes the Indian situation on the matter under the broad components of (1) policy framework and practices; (2) legislation and judicial dicta and (3) emerging consumerism and voluntary action. The author concludes by identifying gaps in the policy framework obtaining of the country and suggesting that the state is better placed to formulate policy statement in regard to corporate social accountability. He also recognizes the need and scope for linking and correlating through corporate action, social development, distributive justice, and economic growth.