After discussing the various changes that the concept of Corporate Social Responsibility (CSR) has undergone since its inception, this paper focuses on a relatively new proposal by the United Nations (UN) called 'Global Compact' (GC) and 'Millennium Development Goals' (MDGs) to reshape Corporate Social Responsibility (CSR) as a tool for national and international development and its applicability in the Indian context. This study also critically analyzes the CSR initiatives adopted by Tata Steel Ltd in the light of this approach to CSR as a developmental tool. The data analysis is based on auditor's annual report and the CSR reports of Tata Steel Ltd. Rural Development Society (TSRDS) from 1990 to 1998 (post liberalization in India). The analysis ends with the conclusion that Tata Steel Ltd's CSR activities implicitly follow the MDGs of the UN as a developmental tool for Jharkhand. These CSR activities (which are well-structured following the MDGs) act like tools for development and try to fill the developmental gaps of the Government. ABSTRACT FROM AUTHOR]; Copyright of IUP Journal of Corporate Governance is the property of IUP Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)