'The future of CSR in India looks very promising'
The CSR law in India, which was introduced through the Companies Act, 2013, has played a significant role in promoting the growth of CSR in the country
image for illustrative purpose
CSR media platform India CSR, through its events, conferences, and training programs, helps companies understand the importance of corporate social responsibility (CSR) and aid companies in effectively implementing CSR initiatives. Rusen Kumar, Founder of CSR India in an exclusive interview with Bizz Buzz, says "The CSR law in India, which was introduced through the Companies Act, 2013, has played a significant role in promoting the growth of CSR in the country. Lack of knowledge and expertise in implementing CSR initiatives, lack of awareness about the CSR law and its requirements, and difficulty in identifying appropriate CSR projects and partners are some the challenges companies today face in implementing CSR activities. Seeking guidance and support from CSR experts and organizations can help companies overcome these challenges."
Can you tell us about the growth of CSR in India in the past decade?
In the past decade, we have seen a significant increase in the number of companies adopting corporate social responsibility (CSR) practices in India. This can be attributed to the increased awareness and awareness of the importance of CSR among corporates and stakeholders, as well as the government's push for CSR through the Companies Act, 2013.
What role has India CSR played in promoting CSR in India?
India CSR has been at the forefront of promoting CSR in India. As the largest CSR media platform in the country, we have provided a platform for dialogue, collaboration and knowledge sharing among CSR professionals, stakeholders and academia. Through our events, conferences and training programs, we have helped companies understand the importance of CSR and how to implement effective CSR initiatives.
How do you see the future of CSR in India?
The future of CSR in India looks very promising. With increasing awareness and government support, more and more companies are adopting CSR practices and making a positive impact on society. At India CSR, we are committed to continue promoting CSR and enabling companies to make a positive impact on society.
How has the CSR law in India impacted the growth of CSR in the country?
The CSR law in India, which was introduced through the Companies Act, 2013, has played a significant role in promoting the growth of CSR in the country. The law mandates companies with a net worth of Rs 500 crore or more, or a turnover of Rs 1000 crore or more, or a net profit of Rs 5 crore or more, to spend at least two per cent of their average net profit for the preceding three financial years on CSR activities. This has encouraged companies to adopt CSR practices and make a positive impact on society.
Please tell about the contribution made by you in the field of CSR.
I have been promoting CSR in India for over a decade. As the Founder of India CSR, the largest CSR media platform in the country, I have provided a platform for dialogue, collaboration and knowledge sharing among CSR professionals, stakeholders and academia. So far, India CSR has organized various events, conferences and training programs to promote the importance and benefits of CSR, and enable companies to implement effective CSR initiatives. It has contributed significantly to the growth of CSR in India and the positive impact of CSR on society.
What are some of the challenges faced by companies in implementing CSR activities as per the law?
Some of the challenges faced by companies in implementing CSR activities as per the law include lack of knowledge and expertise in implementing CSR initiatives, lack of awareness about the CSR law and its requirements, and difficulty in identifying appropriate CSR projects and partners. To overcome these challenges, companies can seek guidance and support from CSR experts and organizations, and develop a comprehensive CSR strategy based on the needs and priorities of their stakeholders.
How is CSR a creative field?
CSR is a creative field as it involves developing and implementing innovative initiatives that address social and environmental issues and create a positive impact on society. This requires companies to think outside the box and come up with creative solutions that align with their business objectives and address the needs of their stakeholders.
How is CSR a constructive field?
CSR is a constructive field as it involves building and strengthening relationships with various stakeholders, such as employees, customers, suppliers, communities and the environment. This requires companies to engage with stakeholders and understand their needs, expectations and challenges, and develop CSR initiatives that are beneficial for all parties involved. CSR initiatives can also contribute to the construction of a better, more sustainable and inclusive society.
How does CSR provide an opportunity for socio-economic development?
CSR provides an opportunity for socio-economic development as it focuses on addressing social and environmental issues and promoting sustainable development. CSR initiatives can create employment opportunities, enhance skills and capacities, improve access to education, healthcare and other essential services, and contribute to the overall development of communities and society. This can help reduce poverty, inequality and social exclusion, and promote inclusive and sustainable growth.
What are some examples of CSR initiatives that contribute to socio-economic development?
Some examples of CSR initiatives that contribute to socio-economic development include providing training and employment opportunities to disadvantaged groups, supporting education and healthcare services, promoting sustainable agriculture and rural development, and protecting the environment and natural resources. These initiatives can have a positive impact on the lives of people, communities and the environment, and contribute to the overall development of the society.
What are some of the challenges faced by companies in implementing CSR in India?
Some of the challenges faced by companies in implementing CSR in India include lack of awareness and understanding of the importance and benefits of CSR, lack of knowledge and expertise in implementing CSR initiatives, lack of a coherent and comprehensive CSR strategy, and difficulty in measuring the impact of CSR initiatives. Other challenges include inadequate infrastructure and support from the government, lack of coordination and collaboration among stakeholders, and lack of accountability and transparency in the implementation of CSR activities. To overcome these challenges, companies need to develop a strong commitment to CSR, seek guidance and support from CSR experts and organizations, and engage with stakeholders to develop and implement effective CSR initiatives.
