India’s economic growth post liberalisation has seen tremendous increase. At the same time, the polarisation of Indian society on economic and social parameters has never been sharper. The inability of vast sections of Indian society to take advantage of the economic opportunities on account of their multiple vulnerabilities has developed a context within which poverty and hunger are likely to become the norm rather than exception. The present paper argues that the CSR efforts of the corporate are likely to remain cosmetic in nature unless there is a focus and definite direction to these initiatives. While the prevailing texture and flavour of CSR in India is heavily influenced by CSR in the West, the CSR in India will have to be rooted in the realities of social life and deal with issues of vulnerabilities and marginalisation.