CSR Centre of Excellence
CSR Centre of Excellence (CSR – CoE) entailedwith dedicated professionals having versatile experiences inindustry and academics. They are widely acknowledged and are references in the field of CSR. The way India legitimated CSR – first of its kind in the world. This is a history. So far the New Companies Bill, CSR is mandatory.It is now embedded in the DNA of Indian business. To address this new development, for bridging the gap of human resources, CSR – CoE is actively working towards realising its vision of leveraging CSR to enhance and enable enterprise competitiveness in a market-driven environment. Through its activities, CSR –CoE already established institutional framework that has takena lead role for setting-up higher learning in CSR, MDPs, Research and professional facilitation for industry and civil society.
It is now mandated that the business is not just for profit, rather responsible businessensures inclusiveness of public interest, which in turnsafeguards sustained development. That’s where India stands today.
This bill give directionsto Companies forspending minimum 2% of Profit After Tax ( PAT ) in CSR. Displaying the CSR Report in the public domain is must. The bill also aims to have a dedicated ‘department’ supported by an independent director plus two other promoter directors. These directors shall be responsible and accountable for CSR activities and spending. Violating CSRnorms will tantamount to penal actions. This reflects the great importance of CSR in Indian business.
From April 2013, listed 2073 Companies (plus 11,000 Industry) will be under the ambit of CSR; this will create more than INR 270 trillion (Rs. Twenty Seven Thousand crores)yearly. Apart from this, SEBI already enforced mandatory CSR for the 100 top listed Companies. Within next six months, with these unique instruments CSR would emerge as one of the most vibrant departments for the 13,000 companies of India. India alone requires over 50,000 MBAs in CSR and more than 1,50,000 Certified and Trained Professionals inthe coming years. This is literally unique compare to other opportunities of the business in India.
Interestingly, this year onwards organizations required trained human resources in CSR. With this development, to tackle the situation, India doesn’t have any dedicated Institution to cater the huge demand of CSR and its Human Resources. For managing CSR, an individual has to be academically exposed and professionally trained. Also to be intellectually groomed in perspective of CSR. This is purely an emerging academic viz. professional area of the Management in India.