Policymakers, industry, researchers deliberated today over success and failures of mandatory CSR initiative during CSR Impact Conclave
NEW DELHI: Expressing satisfaction over the progress of Corporate Social Responsibility (CSR) in past five years, NITI Aayog Vice Chairman Dr Rajiv Kumar today urged Indic Inc to do serious impact assessment of their CSR Initiatives.
Addressing to the forum, Dr Kumar said “India has excellent examples of CSR. Going forward the Corporate CSR should focus more at two additional areas like nutrition and innovation as a part of their CSR mandate.”
“I think corporate must find a way to ‘do well by doing good’. ‘Doing good’ must be integrated in business practices in line with Conscious Capitalism by making self-interest a very small part of our way of doing business. The gap between the social good and the corporate good should be studied.” Dr Kumar said.
Dr Kumar urged the National CSR Network to work with the NITI Aayog for an objective impact assessment of the five years of the CSR initiative.
Speaking at the Inaugural Session, Department of Personnel Training Additional Secretary Srinivas Katikithala said “There is a need for collaboration and partnership between the government and industry for capacity building to achieve greater impact of CSR projects”.
On the occasion, World Bank Group Lead Tertiary Education Specialist Francisco Marmolejo said India was one of the first few countries to establish a mandatory CSR regulation.
“At the conclave, we discussed lessons learned and way forward. India is the place where you get answers to the most of the problems the world is going to face. If India succeeds, so will the world. And if India fails, the world as well,” Marmolejo said while sharing his views from the global perspective.
Mohini Daljeet Singh, Trustee – Max India Foundation said, “Five years of mandated CSR has brought us to a point where we need to reflect on the journey so far and assess the impact achieved. The goal of this meeting is to chart a course for CSR over the next few years to synthesise the efforts of Corporate CSR Wings, NGOs and the Government in order to leap frog on the Development Route.
NIIT JMD P Rajendran applauded the government in redefining the scope of 2% mandatory CSR contribution in the centrally funded and state-funded academic institutions, universities and incubators, now firms can now send on institutions engaged in conducting research in science, technology, engineering and medicine, which is aimed at promoting sustainable development goals.