NEW DELHI: It has reported that the corporate social responsibility fund is poised to grow to Rs 20,000 crore over the next three years. That is the estimate made by a new report that also says CSR funding has been growing at the rate of 9% a year.
With the philanthropic ecosystem becoming increasingly active over the last few years, there is a perceptible increase in size and nature of funding support in the sector, finds ‘Social Impact Multipliers Report’, which is billed as “India’s first holistic report that identifies and addresses the unique challenges and gaps in the social sector”.
The inferences have been drawn through a detailed analysis of perspectives from leaders, funders and ‘enabling organizations’ in the social sector, says the Indian School of Development Management (ISDM) which partnered with Sattva Consulting to carry out this rigorous qualitative empirical study to gather a deep understanding of the trends and current experiences of leaders in India’s social purpose organizations to meet the rising talent demand.
The report, launched in Mumbai on October 26, brings together insights and provides recommendations for funders, leaders of SPOs and key stakeholders in the social sector space on leadership development and talent management so as to enable social organizations and corporate foundations for larger transformative impact.
With 33 lakh non-profit institutions (NPIs) employing over 1.82 crore people, supported by contributions from funders, enabling organizations, the government, and businesses, India’s development sector is one of the largest and most active social economies in the world. It has a huge potential to become an aspiring and mainstream career option for India’s young leaders and managers.