Transforming Business for Good

The concept of Corporate Social Responsibility (CSR) and Sustainability has grown remarkably in India in terms of both speed and development, which is contributed by the socio-economic factors and regulatory systems of this country. The Companies Act of 2013 enacted in India can be said to be the major driving force through the inclusion of CSR mandate that compels companies to spend a percentage of the average annual net profit towards CSR. This legislation has shifted CSR from being just an organizational extra to becoming one of the most significant focuses of business strategy. This dynamic ecosystem is shaped by CSR and Sustainability heads that exist in organizations in India. Their roles do not end at ensuring compliance, but rather, they are engaged in developing solutions that make a difference through sustainable development.

Part of their duties involves innovation that directly addresses India’s dynamism. For example, they may spearhead efforts to promote clean technologies for generation of electricity for remote and impoverished regions or champion environmentally friendly value chains that empower producers at the grassroots level. They are also linked to the United Nations Sustainable Development Goals (UN SDGs) to assist in companies’ global contributions to sustainable development while meeting local needs. Stakeholder management is another of their tasks or activities that are important in their job. This requires establishing intricate partnerships and working with various governmental and non-governmental agencies, local population, and shareholders in the Indian context. Reporting, in particular, is quite crucial since these leaders have to convince stakeholders about the value of their CSR activities.

In the current issue, we introduce you to the top leaders in this segment. In this issue, Industry Outlook has identified the select few leaders that have done particularly well in this industry with a high level of dedication. We have found that these leaders have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.

We welcome your feedbacks and suggestion that you may have concerning this special issue.