8th June 2015 | By Grainne |
For years CSR researchers and commentators have debated whether it is practical or even desirable to impose CSR requirements on business. So I was interested in the first major implementation of this in India which legally mandated CSR last year. The law applies to companies with net worth of 5 billion Rs. (approximately $80 million); turnover of 10 billion Rs. at least (approximately $160 million); or net profit that exceeds 50 million Rs. (approximately $830,000).
This article reviewing first 13 months of India CSR companies act provides an interesting review of progress so far and makes the point that the change in the ruling party after last year’s election slowed things down as many believed that legislation would be delayed or softened to be more ‘business-friendly’.