75 leading tech companies spearheaded over 2,610 CSR projects, investing Rs 5,443 cr: Nasscom Foundation
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Integrating AI, data analytics, and digital solutions can expand access to education, boost workforce upskilling, advance healthcare , and accelerate climate action—setting new benchmarks for tech-driven social good. Nasscom Foundation , along with Nasscom and BOD Consulting, released a CSR report titled ' Tech Industry and CSR: Insights and Impactful Stories,' highlighting the sector's evolving role in impactful CSR. The report states that India's tech industry contributed Rs 5,443 crore in Corporate Social Responsibility (CSR) spending in FY23, with companies going beyond the 2% mandate by leveraging technological expertise, scalability, and structured CSR strategies to drive long-term impact.On the sidelines of the launch, Jyoti Sharma, CEO, Nasscom Foundation, and Achyuta Ghosh, Senior Director and Head of Nasscom Insights, discussed with ET Online how technology is reshaping CSR, emerging trends, challenges, policy implications, and the growing focus on AI, digital skilling, and sustainability. Edited excerpts:I believe that technology is one of the most powerful enablers of inclusive growth. We see it not just as a tool but as a vital ally in addressing socio-economic challenges faced by marginalized communities. The pandemic accelerated digital transformation, expanding the scope of CSR and opening new avenues for tech-driven social impact.Today, tech companies are embedding AI, digital skilling, and sustainability into their CSR strategies. Initiatives include setting up digital infrastructures, integrating AI tools for real-time monitoring, skill-based volunteering and employing AI-based skill assessments. These efforts aim to build smart, scalable systems that support skill development, entrepreneurship, and employability, particularly among rural youth and women. By prioritizing access to technology and innovation, tech companies are bridging gaps in aspirational districts, improving access to essential services like healthcare, education, and agriculture. Failing to leverage technology effectively could hinder scalability and systemic change, as it has become an indispensable catalyst for sustainable, inclusive progress and a cornerstone of India's digital future.I believe that effective CSR hinges on collaboration among tech companies, government bodies, and local NGOs. At Nasscom Foundation, our core philosophy of TechForGood drives us to harness technology for inclusive growth and sustainable development. This shift from isolated efforts to co-created, scalable models enhances outcomes and aligns with goals of inclusive growth and digital empowerment.In FY23, 75 leading tech companies spearheaded over 2,610 CSR projects, investing Rs 5,443 crore—surpassing the mandated 2% of profits. These initiatives focused on education, climate action, and digital skilling, leveraging AI and digital platforms to reach millions and create sustainable pathways. Collaboration with the government aligns CSR with national objectives like digital inclusion and skilling, helping bridge regional disparities. Government-backed platforms like the Aspirational Districts Programme have seen a fivefold increase in CSR investment between FY19 and FY23. However, these districts, housing over 15% of India's population, still receive only about 2.15% of total CSR funds.Local NGOs contribute essential community insights and last-mile connectivity, enhanced by capacity-building initiatives and skill-based volunteering from the tech sector. Such multi-stakeholder collaboration amplifies the impact. Strengthening public-private partnerships, fostering regional collaborations, and creating platforms for knowledge sharing can further align CSR efforts with national development goals. Promoting technology-driven collaboration and structured engagement among companies, NGOs, and government bodies will help scale impact, address region-specific challenges, and ensure efficient, inclusive use of CSR resources.While India's CSR landscape has evolved, key challenges persist—particularly in equitable geographic distribution, prioritising aspirational districts, and fostering stronger NGO partnerships. Our 2024 CSR survey revealed that 21% of companies struggle with limited collaboration, 20% face hurdles in expanding into new sectors, and 15% find it difficult to identify suitable implementation partners. Addressing these gaps is essential to unlocking CSR's full potential and aligning it more closely with national development goals.CSR in India has transformed over the past decade, empowering millions, with the tech industry leading the way. The number of participating companies increased by 22% from 19,888 in FY22 to 24,392 in FY23, while total CSR expenditure grew by 12.6% from Rs 26,400 crores to Rs 29,700 crores. This growth, fueled by stronger policies, reflects a deeper commitment to nation-building and the SDGs. Key trends include education, skill development, livelihoods, and climate change as top focus areas, impacting over 6.5 crore lives in FY23. Notably, CSR spending in aspirational districts has increased fivefold since FY19, though it still accounts for only 4.5% of total CSR expenditure. Encouragingly, 41% of organizations now prioritize alignment with national priorities and the SDGs. Looking ahead, social innovation is projected to increase from 6% to 8% focus in the next 3–5 years.I find it encouraging that CSR investments are becoming more strategic and aligned with national and global development goals. Still, organizations must better assess community needs and identify high-impact areas. In the coming years, skill development and livelihood generation are expected to surpass education as CSR priorities. Tech companies are entering areas like disaster response and WASH , while non-tech firms focus more on climate action. Social innovation is gaining ground, with focus expected to grow from 6% to 8%. Despite progress, companies face barriers in collaboration, sector expansion, and finding the right partners. On-the-ground challenges like tech resistance, fragmented gender efforts, and caste-based discrimination persist. A long-term, partnership-driven, tech-enabled approach is essential for deeper, inclusive impact.The report outlines key recommendations for CSR leaders aiming to replicate successful initiatives. It emphasizes establishing clear key performance indicators (KPIs) and leveraging AI tools for real-time monitoring to enable timely course corrections. Developing adaptive learning solutions tailored to diverse demographics, incorporating gamification and practical simulations, is highlighted to sustain engagement.Collaborating with academic and industry stakeholders to create impactful training programs ensures certifications align with industry standards, attracting participation. Partnering with local NGOs addresses regional talent issues effectively. Providing regional language content and mobile or offline learning resources bridges accessibility gaps.Combining technical and soft skills training, and utilizing case studies, offers clear career pathways for learners. Engaging with local organizations fosters effective outreach, builds trust, and allows for the customization of program goals to address community-specific challenges. Involving local outreach workers and leaders in a community-driven model ensures sustained behavioral change and program adoption. Partnering with organizations that possess local expertise helps bridge gaps in reach, logistics, and program execution.I have observed a significant shift in how we approach social responsibility. CSR is no longer a peripheral activity; it is now a strategic imperative that aligns closely with our business objectives and national development goals. This evolution has enabled us to leverage our technological expertise to address pressing social and environmental challenges effectively.According to the Nasscom and Nasscom Foundation Annual CSR Survey 2024, 90% of tech-integrated projects reported increased impact, scalability, and efficiency. Furthermore, 41% of organizations are now prioritizing CSR goals that align with the United Nations Sustainable Development Goals , reflecting our collective commitment to global societal advancement. It's clear that by embedding technology into our CSR strategies, we are not only driving meaningful change, but also setting a precedent for sustainable and inclusive growth.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
Sambhv sets IPO price range, values company at Rs 2,400 crore
MUMBAI: Sambhv Steel Tubes, a manufacturer of electric resistance welded steel pipes and structural tubes, has priced its initial public offering (IPO) between Rs 77 and Rs 83 a share, allowing the company to raise up to Rs 540 crore. The IPO, which is a combination of fresh issue and offer for sale, will be open for public subscription from June 25 to June 27. The promoters, Brijlal Goyal and his family, will sell Sambhv shares worth Rs 100 crore in the IPO. At the upper price of Rs 83 per share Sambhv's market capitalisation will be just over Rs 2,400 crore. The proceeds from the fresh issue, totaling Rs 440 crore, will be used to repay borrowings and for general corporate purposes. As of March-end 2024, Sambhv had a debt of Rs 347 crore. In FY24, the company, based in Raipur, made a profit of Rs 82 crore on revenue of Rs 1,286 crore. In addition to the steel pipes and structural tubes business, Brijlal Goyal and his family are also involved in the plastic business. However, the steel business under Sambhv is their largest venture. Sambhv is a name created by combining the first letter of the names of six family members. The 'B' in Sambhv stands for Brijlal, while 'S' and 'V' represent Suresh and Vikas, who are Brijlal's two children. Suresh serves as the chairman of Sambhv, while Vikas holds the position of MD. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India.com
35 minutes ago
- India.com
Meet actor who once sold products door to door, one film changed his life, became a star, was called ‘next Shah Rukh Khan', built Rs 1200 core business, he is…
He may have entered Bollywood with Ram Gopal Varma's Company (2002), but Vivek Oberoi's biggest role has unfolded far beyond the silver screen. While many remember him for films like Saathiya and Masti, few know that this actor-turned-entrepreneur built a business empire worth Rs 1200 crore, largely without help, not even from his superstar father, Suresh Oberoi. Despite being born into a film family, Vivek's journey was anything but privileged. In a recent podcast interview, the actor peeled back the layers of his public persona to reveal a sharply honed business mind, one that took root when he was just 10. At an age when most kids were lost in video games, Vivek was busy selling door-to-door and pitching marketing strategies to his father. 'Dad would bring home a product and ask me to make a business plan. Then he'd quiz me — 'How will you sell this?' That's how I learned,' Vivek shared. But there was no silver spoon. In his own words, 'He told me, 'I'm rich. You're not. You'll become rich — but on your own.' The words stuck. By the age of 19, Vivek had already earned $3 million for his first company. He sold it four years later at 23. Today, he claims to have taken nine companies public in the Indian stock market and is preparing to launch four more. On the professional front, Vivek hasn't delivered many hits lately. His last prominent appearance was in PM Narendra Modi (2019), where he played the lead role. In 2024, he appeared in the historical action film Kesari Veer alongside Suniel Shetty and Sooraj Pancholi, though the project didn't make major waves. For now, his film calendar appears empty. But even without a blockbuster, Vivek Oberoi is far from irrelevant. His sharp pivot from screen to stocks has redefined his legacy, one built not on box office numbers but on boardroom deals.
India.com
an hour ago
- India.com
Debts getting erased rapidly, deals closing rapidly...,can Anil Ambani overtake his elder brother Mukesh Ambani?
Anil Ambani was once the sixth richest person in the world, even boasting a wealth of $42 billion by the end of the 2000s. After the division of the Reliance group, he was in control of companies such as Reliance Telecom, Reliance Capital, Reliance New Energy, and Reliance Power – all companies with significant potential. But as a result of bad choices, poor planning, over-dependence on debt, and poor execution, all of his companies started to struggle. Debt obligations mounted, shares fell, and many were lost in the sale of companies to pay down obligations. Today, things seem to be changing. Companies are finding more capital to invest in their future, profits are growing, loan amounts are shrinking, and new projects are coming in. If the trend continues, it would not be surprising to see Anil Ambani regain one of the many positions he has lost over the last decade in the business world. Anil Ambani and Mukesh Ambani are two well-known names in the world of business. Today, Mukesh Ambani is the richest industrialist in India. Moreover, he is one of the richest individuals in Asia. He holds a significant name in the global business community. However, Anil Ambani is also making a comeback. Things are getting better for him, and his companies—Reliance Power, Reliance Industries, and Reliance Home Finance—are regularly reporting profits. Anil Ambani's companies have been providing exceptional returns for investors. Stocks like Reliance Power, Reliance Home Finance Ltd, and Reliance Infrastructure have produced very favorable results. In just one month, Reliance Power shares have increased by more than 40%. In fact, for one full year, the stock has delivered a spectacular return of around 125%, which is more than double the original investment. This means that a Rs 1 lakh investment in Reliance Power one year ago would be worth approximately Rs 2.25 lakh today. Likewise, Reliance Infrastructure Ltd has also given out sizable returns in the previous year. The stock was up 30% in the last month and has given almost a 90% return in a year. As for Reliance Home Finance Ltd, the stock has generated nearly a 55% return in just one month and around 50% in one year. And when you examine Mukesh Ambani's Reliance Industries, it is important to note, although it remains India's most valuable company based on market value, its performance hasn't been too good recently. In the past month, it has remained mostly flat, and over the last year, it has declined by about 6%. In terms of returns, it appears that Anil Ambani's companies have performed better than his older brother's Reliance Industries in the recent past. Good things are happening for Anil Ambani right now. His companies, Reliance Infra and Reliance Power, are becoming transformational forces. Recently, Reliance Infra's subsidiary, Reliance Defence, has secured multiple deals one after another. If it wasn't enough that confidence is growing in Anil Ambani's businesses from domestic investors in India, a great deal of global confidence in his businesses has developed. He recently signed a significant deal with Diehl Defence in Germany. Prior to the deal with Diehl, another German company inked an agreement with his firm to manufacture ammunition. Moreover, Anil Ambani's company signed a major international project agreement in Bhutan, where he signed an agreement to build a 1,270 MW solar power plant—this is a concrete step forward in his comeback. Anil Ambani is now clearly committed to reducing the level of debt for his companies, as he has been continuously working towards getting his companies debt-free, one after the other. Reliance Infrastructure, one of the flagship companies of the Ambanis, cleared Rs 3,300 crore in debt in FY2025 and has become entirely debt-free. Media reports suggest that Reliance Power's Rosa Power Supply Company also paid down its Rs 485 crore in debt, which likewise has been cleared to be entirely debt-free. Previously, Reliance Power itself managed to pay down a substantial loan of Rs 3,872 crore. It is interesting that with these debts being reduced, the companies also seem to be attracting new orders and attracting new investments, signaling that Anil Ambani's businesses are on the verge of a full revival.
