Indian Companies, Sports Personalities, and CSR
What is Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is a legal requirement in India under the Companies Act, 2013. As per the act, every company with a net worth of at least Rs. 500 crore, or a turnover of at least Rs. 1,000 crore, or a net profit of at least Rs. 5 crore during any financial year, is required to spend at least 2% of its average net profit for the immediately preceding three financial years on CSR activities.
Facts & Figures
According to the Ministry of Corporate Affairs, the total CSR spending by companies in India has increased steadily over the years. As per the latest available data, for the financial year 2019-20, 5,106 companies spent a total of INR 16,879 crore (approximately $2.3 billion) on CSR activities. This is an increase from the previous financial year, where 5,109 companies spent INR 15,010 crore (approximately $2 billion) on CSR activities.
Top Areas
The top areas of CSR spending by companies in India are education, healthcare, sanitation, rural development, and disaster relief. Many companies have also undertaken CSR activities in areas such as environmental sustainability, women empowerment, and skill development.
It is worth noting that the implementation and impact of CSR activities can vary widely depending on the company, sector, and region. Some companies have been criticized for not effectively utilizing their CSR funds, while others have been recognized for their innovative and impactful CSR initiatives.
CSR & Bollywood in India
It is not uncommon for companies in India to collaborate with Bollywood personalities for CSR initiatives, particularly in areas such as education, health, and sanitation.
Many Bollywood celebrities have used their influence and popularity to support various social causes and campaigns in India. For example, actors like Aamir Khan and Akshay Kumar have been associated with campaigns promoting cleanliness and hygiene, while actor Shah Rukh Khan has been involved in initiatives aimed at providing education and healthcare to underprivileged children.
Similarly, many Indian companies have partnered with Bollywood personalities to promote CSR initiatives and campaigns. For example, Coca-Cola India has collaborated with actor Deepika Padukone to launch a campaign aimed at promoting awareness about menstrual hygiene and providing access to sanitary napkins to underprivileged women.
While it is difficult to provide an exact number of companies that have invested in CSR with Bollywood personalities, it is clear that such collaborations can be effective in raising awareness and promoting social causes in India.
CSR & Sports personalities in India
Over the years, many Indian companies have partnered with sports personalities to promote CSR activities in various sectors such as education, health, and rural development. For example, Indian cricketers like Sachin Tendulkar, Virat Kohli, and MS Dhoni have been associated with various CSR initiatives and campaigns, such as Swachh Bharat Abhiyan (Clean India Campaign) and Skill India Mission.
Similarly, many Indian corporates have also collaborated with sports personalities to promote sports development and provide opportunities for underprivileged children. For example, Reliance Foundation, the philanthropic arm of Reliance Industries, has launched several programs in partnership with sports personalities like Sachin Tendulkar, Sania Mirza, and Mary Kom to promote sports education and talent development.
Recently, Magic Pathshala, the CSR arm of Magic Software, approached and collaborated with Khushii, an independent, not-for-profit, childcare NGO, founded by former Indian cricketer, Mr. Kapil Dev. As part of the collaboration, Magic Software will donate towards the education and upliftment of underserved children. Magic EdTech is a technology and content services company focused on delivering digital learning products. Magic brings a deep understanding of serving the education markets – with a mission to deliver digital learning for everyone which it has been pursuing for over two decades with a team of 1300+ experts.
While it is difficult to provide an exact number of corporates that have undertaken CSR activities with sports personalities in India, it is clear that such collaborations have become increasingly common in recent years.
