India’s Mandated CSR Law: Early Results Are In - The Minute

In 2013, India became the first country to mandate spending on CSR. The Companies Act requires qualifying companies to spend two percent of their average net profit for the past three years on development projects. Over 16,000 companies fall under the law’s standards, of a net worth of $76 million or a turnover of $150 million annually. Initial results are in, and it’s a mixed picture. Companies report CSR spending of almost $14 billion, but early analysis also shows most companies fell short of the two percent target. Under the law, companies are not penalized for underspending, but have to report on why they did.

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