CSR spend to soar

Metro India News | Hyderabad 

India's Corporate Social Responsibility (CSR) ecosystem is poised for unprecedented growth, with annual CSR spending expected to touch Rs 75,000 crore in the next three years and eventually exceed Rs 1 lakh crore, said Dr. Bhaskar Chatterjee, IAS (Retd.), widely regarded as one of the principal architects of the country's CSR framework. Speaking at the knowledge session, "CSR Meets the Social Stock Exchange: A Journey Ahead," organised by Equippp Social Impact Technologies Ltd. at Yashoda Hospitals, Hitec City, Dr. Chatterjee said CSR had evolved into a major development sector committed "to serve the underserved."

Recalling the implementation of the Companies Act, 2013, he said nearly 8,000 companies were initially expected to contribute about Rs 9,000 crore annually. Today, over 30,000 companies contribute more than Rs 40,000 crore every year. Dr. Chatterjee noted that India has nearly 3.3 million registered NGOs, creating immense opportunities for partnerships between corporates and civil society. He also highlighted recent policy reforms that simplify CSR registration for eligible non-profits and permit companies to invest up to 10% of their CSR expenditure in SEBI-regulated Zero Coupon Zero Principal (ZCZP) instruments listed on the Social Stock Exchange.

During the session, Grace Cancer Foundation announced plans to seek listing on the Social Stock Exchange and unveiled a roadmap that includes a Centre of Excellence for Preventive Oncology, AI-enabled mobile cancer screening units, digital rural health platforms and nationwide cancer and NCD screening programmes. More than 100 representatives from corporates, NGOs, philanthropy, academia and development organizations attended the programme, which also featured EQUIPPP Founder Lakshmi Narayana, Grace Cancer Foundation Founder Dr. Chinnababu Sunkavalli, Prof. Arun Tiwari and Sai Kiran of EQUIPPP.