Being socially responsible is now a business obligation for by corporate entities. Today, about 90% of leading companies in India are involved in various CSR programmes such as working for education, health, empowerment of women and environment. Recently, CSR has evolved from philanthropy to a business related phenomenon because the new CSR concept with gaining some strategic advantage and sustainability has been widely recognized. This article examines whether corporates in India (including multinationals operating business in India) are practicing strategic CSR based on the survey conducted in Talegaon Maharashtra Industrial Development Council (MIDC) in Pune, India. Also, we try to measure the community impact socially and economically. The result shows that the most of the companies in Talegaon still practice a philanthropic approach but they have made improvement on community impact from 2011 to 2013. After the action research and intervention, some companies started a developmental and strategic approach for their community. It can be concluded that the quantity and area of CSR have been increased according to the community needs and community participation is very important to conduct CSR.