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India’s CSR reporting survey 2018

KPMG India

Foreword: The combination of a forward-thinking corporate sector and the propulsion generated by Section 135 of the Companies Act, 2013 (Act), companies in India are at the forefront of deploying financial and technical expertise to improve the lives of millions throughout the country.

Now, with the fourth edition of the India Corporate Social Responsibility (CSR) report titled, “India’s CSR reporting survey 2018,” KPMG in India has once again provided crucial and detailed evidence that the visionary strategy of India’s Companies Act is gaining extraordinary traction and creating meaningful impact.

In the four short years since the implementation of this groundbreaking legislation, Indian companies have moved swiftly up the learning curve. This report shows that compliance has become near universal with 99 percent of the N100 companies putting their CSR policy up in action from 55 percent during 2014-15, an increase of over 73 percent.

While these reporting statistics are impressive, the real story lies in the governance, programmatic, and financial commitments made. More than 90 percent of companies have standalone CSR committees, elevating the prominence of these efforts to the highest rungs of the company. Independent directors are serving on these committees, and 64 percent include at least one woman.

Education and health continue to receive great attention with 65 percent of the projects and 61 percent of the expenditure. As expertise evolves, there is clear evidence of companies making more strategic and impactful CSR decisions increasingly aligned with the SDGs (Sustainable Development Goals).

The report shows that during this past year, companies have spent INR7536.3 crore which is 47 percent higher as compared to 2014-15, a highly laudatory increase.

KPMG’s important contribution through this report does more than inform that CSR activities in India are going from strength to strength, it showcases for the rest of the world the potential and reality of the constructive role companies can play in addressing our shared societal challenges. With India’s example and the realization of the need for partnerships and hybrid solutions, governments and companies throughout Asia and indeed globally are looking to emulate India’s leadership.

Ruth A. Shapiro, Ph.D.
Founder and Chief Executive
Centre for Asian Philanthropy and Society

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