KOCHI: The Cochin Chamber of Commerce and Industry is organizing SAMATVA-2015b: Kerala’s First CSR Conclave here on Saturday at Kochi Marriott Hotel. Shibu Baby John, State Labour Minister, will inaugurate the conclave. Ramesh Cheninthala, Home Minister will be giving away the best CSR Practice Award for companies and NGOs at the valedictory function to be held the same evening.
According to CS Kartha, Chamber President, the objective of the conclave is to create proper awareness among companies in the state on CSR activities, as the Companies Act 2013 mandates all the profit making companies to pay two per cent of its PAT (profit after tax) as CSR. Spending by Indian companies on CSR activities could grow more than four times to ₹15,000 crore a year, if all firms spend the funds as per the norms.
The conclave, he said, will be an annual platform to recognise, acknowledge and motivate corporates in the State that contribute to communities through their CSR initiatives.
(Report First appeared in The Hindu Business Line)