Some 83% technology companies reported spending more than 2% of their total spends on corporate social responsibility (CSR) or 1.27 times more than non-technology companies, according to a joint report by Nasscom, Nasscom Foundation and Bod Consulting on Friday.
Technology companies contribute significantly to CSR, accounting for 23% of CSR spending among India’s top 20 contributors, said the study.
According to the study, in FY23, corporate participation in CSR activities saw a significant rise, with the number of companies engaged in CSR growing by 22% compared to FY22. Total CSR spending also witnessed a 13% increase over the previous year, while the proportion of companies allocating more than 2% of their profits to CSR initiatives grew from 64% in FY19 to 74% in FY23, highlighting a steady shift toward higher corporate contributions to social impact.
In FY23, 75 leading tech companies spearheaded over 2,610 CSR projects, driving large-scale impact across key areas such as education, healthcare, environmental sustainability, skilling, and climate change, found the study. With a majority adopting foundation-based models, 83% of tech companies reported spending more than 2% of their profits on CSR—1.27 times higher than non-tech companies.
The findings are based on an analysis of over 270 companies across tech and non-tech domains and interactions with top CSR leaders.
Published – March 07, 2025 08:41 pm IST
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