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Corporate India can play big role in unleashing the economic potential of NE region: MoS for External Affairs and Education, GoI

Dec 12, 2022

NEW DELHI, 12 December 2022: Dr Rajkumar Ranjan Singh, Minister of State for External Affairs and Education, Govt of India today said that the CSR spent by the corporate sector has increased in the last few years. "Corporate India has been generous and around 28 per cent of India's total expenditure on philanthropy comes from the corporate sector which roughly translated to Rs 17,000 crores in the year 2020. The CSR spending of the business community, if married well with the national development priorities will positively impact our society and people play a supplementary role in all government's effort," Dr Singh added and stated that together we can do much more and be effective in triggering betterment.

Addressing the 'FICCI CSR Summit & Exhibition', Dr Singh while highlighting the importance of the corporate sector said that the CSR sector of India can make more effective contribution in all the sectors of the economy. "Corporate India has immense exposure to the Indian grassroot levels and understands well on what is needed for India to keep growing," he added.

Speaking on the development of the North-eastern region, Dr Singh urged the corporate sector to plan and participate in the overall growth of the region. "Northeast is witnessing a dawn of new hopes and opportunities. Industry must be part of the growth story by exploring ways and means to join hands with the state government. Corporate India through their CSR can play as a facilitator in this," he added.

He further stated that corporate India, through CSR can play an important role in unleashing the economic potential of the Northeast. The corporate sector can use their CSR fund to support our agriculture sector along with artisans and service providers to get market access. "Mutual benefit will be immense, and I urge all to take CSR beyond charity. We must use CSR as a supplementary tool to empower our youth," emphasized the Minister.

Ms Amanda Strohan, Deputy High Commissioner for Canada to India said that fostering equality through access to equal opportunities and economic empowerment, as well as environmental sustainability, are goals which we all share. "As both global leaders and global citizens, companies have a critical role to play in sustainable and inclusive growth - externally and internally. The Government of Canada works with businesses, civil society organizations, foreign governments and communities to foster and promote responsible business practices, and thus support sustainable economic growth and shared values," she added.

Ms Strohan further stated that Canadian companies operating in India make CSR a key component in their activities.

Ms Rajashree Birla, Chairperson, FICCI CSR & Community Development Committee while emphasizing on the theme 'The World We Want', said, "That there is a need to innovate, connect, collaborate and achieve an amazing impact. This is the need of the hour."

Ms Birla further said that learning from the pandemic is resilience and reaching out, harnessing the energy and the collaborative spirit which has become everyday traits. "We need to take the spirit of bonding to the next level, and create an environment that is equitable, and all inclusive," she added.

Mr Amit Chandra, Jury Chair, FICCI CSR Awards, Co-Chair, FICCI CSR & Community Development Committee and MD, Bain Capital India Ltd said that it is important for us to collaborate not just among ourselves between various NGOs but between companies as well along with collaborating with the government. "This is an opportunity for us to not just change society and people who need assistance but use CSR to change ourselves," he added.

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