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. This was one of the key findings of the recently released ‘dus spoke India Inc: India CSR – reflections from the past decade, visioning for the next’ report by Give Grants. 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 Findings
Unlocking Capital: Over the past ten years, the CSR law has catalyzed a monumental shift, unlocking a staggering 2 lakh crore for the social sector cumulatively. Looking ahead, this figure is projected to exceed 1 lakh crore annually in the next decade.
Internal Shifts: CSR has ascended to a paramount position within boardroom agendas, with top executives across diverse industries actively engaging in CSR initiatives. Notably, 77% of leaders have observed heightened alignment between CSR endeavors and business priorities.
The Equity Lens: While gender equity has emerged as a prominent focus area, with 87% of companies prioritizing it, other dimensions of equity, such as geographic and thematic considerations, still require attention and action.
Collaboration is Key: A resounding 87% of CSR leaders express keen interest in fostering multi-stakeholder collaborations, recognizing the pivotal role of partnerships with other corporations, governmental bodies, and ecosystem stakeholders in achieving impactful scale.
Anticipated Trends
The report anticipates a paradigmatic shift led by India’s top 100 CSR leaders, who collectively oversee 48% of the total annual CSR expenditure. This shift entails a transition towards catalytic funding, wherein CSR investments serve as drivers of innovation that can subsequently be scaled by others. With CSR spending accounting for only 1.3% of government expenditure on social impact, there exists a significant opportunity for CSR to act as a catalyst for transformative change, multiplying its impact manifold.
Sumit Tayal, CEO of Give Grants, reflects on the significance of the report, asserting, “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.”
Conclusion
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.
