Corporate Social Responsibility (CSR) is most talked about issue these days in Indian corporate sector. Indian companies have different motives and views about CSR as some believe that it is just a window dressing and is not going to help the growth and profitability of business. In addition, many companies have a view that CSR improves the image of company and helps in long-term sustainability of the business. These views raise a question on the requirement and importance of CSR in India. It is important to understand how and why companies adopt CSR activities in spite of expenses involved. This paper analyzes the motives and benefits of Corporate Social Responsibility initiatives of Indian companies.