How CSR activities can become the catalyst of change for modern businesses

Green revolution and Modi’s much-hyped demonetisation have amazed the global business fraternity and maintained India's dominance in the global economy, which is a massive challenge for China and a potential lifeline for several western markets, including the US. Experts believe that through this drastic pro market decision Indian government has always proved that it has the ability to walk the talk.

Companies Act 2013, directed companies and business entities to give away 2 percent of their net profit to charity. This is a state of the art law which was first used in India and no other country has mandated corporate social responsibility (CSR) for business.

Within seven years the charitable funding of the Indian companies surged manifold to Rs 25,000 and this act gave a new platform for several social projects and brought them in front of the business fraternity of the country. The entire world today is following this trend and they slowly realised that doing business is much more than just measuring profit and loss. A survey conducted by a renowned market research agency revealed that most of the millennials believe that business should be measured by more than just its financial performance. 

Experts believe that CSR will be an integral part of the modern business ecosystem and leading businesses can use CSR to create their separate identity in the society and to enhance their brand outreach.