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 KAPITEL 10 /  CORPORATE & SOCIAL RESPONSIBILITY

CORPORATE &

SOCIAL RESPONSIBILITY

PHOTOGRAPHER // TARUN KHIWAL, INDIA

MOVEMENT FOR A BETTER TOMORROW

Worldwide corporate social responsibility has become a move- ment for every corporation, with sustainability now a priority for many major global companies like Starbucks and Carrefour. In In- dia there is now a government mandate to take up these topics more seriously and ensure that uneven growth and development can be balanced for a better tomorrow. According to the Indian

Institute of Corporate Affairs, a minimum of 6000 Indian companies will be required to take up CSR projects in order to comply with the provisions of the Companies Act 2013.

CSR in India has traditionally been regarded as a philanthropic activity. And with global influences and communities being more active and demanding, there appears to be a dis- cernible trend that while CSR remains largely restricted to community development, it is be- coming more strategic in nature (with in- creasing links to business). And due to the Companies Act 2013, the CSR concept is now a priority for many companies. Accord- ing to this act, companies that have a net worth of 5 billion Indian rupee (INR) or more, an annual turnover of 10 billion INR or more, or a net profit of 50 million INR or more are obliged to invest in CSR activities. The act also encourages companies to spend at least 2% of their average net profit from the previous three years on CSR activities. So, in addition to large corporate firms, a lot of Indian public sector companies are mean- while also investing in CSR initiatives and therefore contributing to a better tomorrow.


AUTHOR // JAYA PRASAD, GENERAL MANAGER, SERVICEPLAN INDIA