Corporate Social Responsibility (CSR)

In India, Corporate Social Responsibility (CSR) has gained significant momentum, especially after the introduction of legal mandates. The Companies Act of 2013 made it obligatory for certain firms, based on net worth, turnover, or profitability criteria, to spend at least 2% of their average net profits from the preceding three years on CSR activities. These endeavors are directed towards areas like education, health, poverty alleviation, and environmental sustainability, among others. The legal push for CSR, coupled with a rich tradition of philanthropy, has led Indian corporations to integrate social responsibility into their business models, fostering community development alongside economic growth.