Give Grants is today launching the first edition of its highly anticipated report, “dus spoke India Inc: India CSR – reflections from the past decade, visioning for the next”. The report shares deep insights on India’s bold decision to introduce the CSR law 10 years ago and envisions its future through the eyes of 40 of India’s top 100 CSR leaders.
The 40 participating leaders manage over INR 4300 crore CSR funds annually. Backed by research in partnership with The Bridgespan Group, the report digs deep into the challenges, changes, opportunities and impact that CSR can create.
Key highlights of the report include:
Unlocking capital: The CSR law has had a massive positive impact, unlocking 2 lakh crore for the social sector cumulatively in the past ten years. The next decade will see that grow to more than 1 lakh crore every year.
Internal shifts: CSR is now a boardroom priority, with top executives across industries being closely involved. 77% of the leaders reported increased alignment between CSR and business priorities.
The Equity Lens: CSR strategies are adopting the equity lens with 87% companies focusing on gender equity. However other dimensions of equity – geographic and thematic- are lagging behind.
Collaboration is key: 87% of CSR leaders are interested in multi-stakeholder collaboratives with other companies, the government and other ecosystem players, believing that is the key to serving at scale.
Anticipating future trends, the report highlights that India’s top 100 leaders, who together manage a massive 48% of total annual CSR spends, will lead a sectoral shift towards catalytic funding. CSR spending is just 1.3% of government spending for social impact. The opportunity for CSR is to therefore fund innovation that can be scaled subsequently by others. CSR needs to be an impact multiplier, not just an impact creator.
Commenting on the launch of the report, Sumit Tayal , CEO of Give Grants, stated, “Business extends beyond corporate boundaries to communities. India’s approach of legally mandated CSR has accelerated this understanding across India Inc. ‘dus spoke India Inc’ offers a comprehensive analysis of what CSR has delivered in the last ten years and where it is headed, empowering organizations to make informed decisions and drive positive change.”
The release of this comprehensive report emphasizes Give Grant’s commitment to contribute to the CSR ecosystem of the country. dus spoke India Inc ultimately tries to capture the true essence of CSR and what it can do, what it should do and what we hope it will do in the future. To access the full report, please visit [Link]
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