Corporate Social Responsibility is good for Business
Delhi. Union Minister of Commerce & Industry Suresh Prabhu said that Corporate Social Responsibility (CSR) has become anexemplary model in the countryfor companies who have realized that their financial success is incomplete without support of the society. Speaking at an event on CSR in New Delhi, the Minister said CSR is a reality and it makes commercial sense for corporates to invest in society.
Suresh Prabhu said that by the time India becomes a 10 trillion economy in 2035, CSR funds will also grow and will to be invested in social issues. He said availability of water is going to be a major issue and it should be ensured that India, the third largest economy by then, is not water stressed. Suresh Prabhu suggested that corporates should provide new technology and managerial expertise to address the crisis in availability of potable water.
The Minister called for joint efforts by the Government of India and corporate houses by pulling all resources: financial, managerial, policy framework and local resources, to address the critical challenges in sectors of water, education and health care.
The Minister gave away CSR awards to winners under different categories: education, healthcare, skill development, women empowerment and livelihoods.