Sattva State of CSR in India Report 2024

The State of
CSR in India
Data Guide 2024
01 The State of CSR in India
About the CSR Data Guide
With more than INR 1.84 Lakh Crore Rupees spent in nine years, today, CSR is seen as a credible source
of development finance. Where are these funds being deployed? Who are the funders?
This comprehensive data guide helps you understand trends across sectors, industries and regions
covering :
INR 1.84 Lakh Crore Rupees of CSR funding
In depth analysis of regional spend (six regions)
In depth analysis of spend in top development sectors (Education, Healthcare, Livelihood, Rural
Development Projects and more)
In depth analysis of investments by top industries (BFSI, Oil, IT/ITES, Energy and more)
Nine years of CSR (2014-23)
This detailed CSR landscape study is designed to provide actionable insights on:
Under-funded regions
Industry and CSR spending trends
Under-funded sectors
Modes of implementation
Peer trends by industry and company size
This data guide is an essential tool if you are a:
CSR practitioner working on creating effective programmes
Non-profit organisation looking to understand the funding landscape
Policy maker/ researcher studying CSR trends
Sattva Consulting is a global impact consulting firm from India. Since 2009 we have been engaging with
communities, business and government to achieve societal impact at scale.
We believe that Civil society, Business and Government all have a critical role to play in building an equitable
and sustainable world, and we actively partner with all stakeholders to enable impact through our advisory &
orchestration services, knowledge and data platforms which we have built as public goods for the ecosystem
and collaborative solutions and partnerships.
Our teams are based in India, Singapore, Denmark and UK, but as a global organisation our work has spanned
25 countries and 5 continents. For more information, please visit: www.sattva.co.in
India Data Insights (IDI), a Sattva Consulting initiative, is an open data platform that serves as your guide to
actionable, ready-to-use data insights. IDI provides quick and easy access to data-driven insights on India's
progress towards Sustainable Development Goals (SDGs) and the deployment of development capital,
enabling sharper decisions and greater impact in India's development sector.

The State of CSR in India 02
Corporate Social Responsibility

In 2014, India became the first country in the world to mandate CSR spend through legislative action. The
legal mandate on CSR applies to companies that have :
a. Net worth of INR 500 Crore or more, OR
b. Annual turnover of INR 1000 Crore or more, OR
c. Net profit of INR 5 Crore or more.

Companies coming under the CSR mandate, have to spend at least 2% of their average net profits of the
preceding three years on social impact programmes in the following financial year.
In the nine years of implementation of the CSR law, more than INR 1.84 Lakh Crore Rupees has been
cumulatively spent by over 30000+ companies.
In this report, we have analysed the CSR spend in the last nine years by the entire set of companies using
data made available by the Ministry of Corporate Affairs as of August 2024.
Data sources and methodology

Sources:
Ministry of Corporate Affairs (MCA Portal)
Census 2011
NITI Aayog
IDI analysis
Definitions:
Pan-India – Project implementation is in more than one state
Sector – Development sectors/thematic areas defined by MCA
Zero Spend Companies – Companies that have their prescribed CSR amount as zero or they have spent
zero amount with positive prescribed CSR
PAN SDGs – Development sector of the project can be mapped to more than one SDG
PSU – Public Sector Undertaking (Central or State government)
Notes:
Data is as made available by the Ministry of Corporate Affairs as of Aug 2024.

An updated report will be available annually on sattva.co.in and IndiaDataInsights.com.
The industry mapping as codified in the CIN is not fully accurate in many cases and hence we have re-
classified the top CSR spenders into categories as analysed in this report. The re-mapping of industry type
ensures that about 80%-90% of the total CSR spend is mapped to the right industry. For remaining 10% of
companies, we have retained the mapping as per their CIN, and hence that may lead to a small margin of
error in industry-wise CSR spend calculation. However the error is small and is unlikely to impact the overall
picture of industry-wise CSR spending trends portrayed here. In case you notice any big anomaly, please do
write to us at [email protected] and we will investigate it. We thank you in advance!
Each unique CIN is treated as a separate company in this report. Hence group CSR is not available as a
single figure. This is in line with the data available on MCA CSR portal.
Table of Contents
Section Page
Introduction 04
Summary 10
Analysis by Company Type 24
Analysis by Region 29
Analysis by State 49
Analysis by Sector 56
Analysis by Industry 69
CSR Analysis by Company 79

CSR: A Catalyst for
Systemic Change
05 The State of CSR in India | Introduction
Corporate Social Responsibility (CSR) in India has made significant strides, evolving from a
compliance-driven obligation to a strategic instrument that serves as a catalyst for long-term, systemic
change. With the passing of the Companies Act in 2014, India became the first country to mandate CSR,
which has since reshaped how businesses engage with the development sector. Today, CSR has become
an integral part of corporate strategy, aligning business goals with societal needs and contributing
significantly to critical areas such as healthcare, education, environmental sustainability, and rural
development.
As we reflect on a decade since the CSR mandate came into effect, it's clear that the role of CSR has
expanded significantly. Corporates are increasingly adopting a problem-first approach, going beyond the
transactional nature of funding programmes to create a more enduring impact. CSR is now seen as a vehicle
for innovation, often employing mechanisms such as innovative finance to attract further investment and
enhance the scale and sustainability of solutions. Corporates are not only deploying funds but are also
playing a catalytic role by engaging in collaborative partnerships with other corporates, government,
academic institutions, incubators, NGOs, and other stakeholders to unlock resources and drive systemic
transformation.
In today’s landscape, CSR functions as a bridge between business and social value, with companies aligning
their strategies to achieve long-term goals while maintaining responsiveness to evolving ground realities. By
prioritising initiatives that foster innovation and build ecosystems around development challenges, CSR has
become an indispensable lever in driving sustainable change. Sattva’s engagements across various sectors
have highlighted this catalytic shift, and the trends we’ve observed reflect the deepening impact of CSR in
India's development journey. These insights are elaborated in the following sections.
State of CSR report 2024

In this year’s edition of the State of CSR in India report, Sattva provides an in-depth analysis of the progress
made over the past decade. The report highlights key trends, including sector-wise and region-wise CSR
investments, a detailed analysis of top funders' spending by geography, and expenditures on aspirational
districts. It also offers a comprehensive review of CSR’s role in advancing India’s Sustainable Development
Goals (SDGs) and explores emerging areas such as climate action and livelihood enhancement projects. The
insights presented are designed to equip stakeholders with the critical information needed to navigate the
evolving CSR landscape and make informed, sustainable decisions that drive measurable impact.
CSR’s shift to a problem-first approach

To maximise the impact of CSR, companies are increasingly shifting from project-based funding to a
problem-driven approach. Identifying key societal challenges that align with the material needs of the
industry they operate in, enables businesses to contribute more meaningfully to addressing systemic issues.
However, companies have realised that targeting these challenges isn’t enough; CSR agendas must be
designed to pinpoint where in the problem's lifecycle CSR capital can be most catalytic and transformative.
This requires a strategic, well-structured approach where interventions are carefully tailored to create long-
term solutions.
By focusing on a problem-driven agenda, companies ensure that their CSR initiatives go beyond compliance
to deliver high-impact, sustainable change. For example, once a company identifies a relevant issue—such as
digital literacy for tech firms or healthcare access for pharmaceutical companies—it must strategically
determine where in the pipeline its CSR capital can generate the most significant results. This could involve
early-stage investments in research, capacity-building efforts, or scaling proven models to broader
communities. The goal is to address the root causes, not merely alleviate symptoms.
E ach intervention must be tailored to the specific stage of the problem. While one initiative might focus on
capacity building, another might aim at systemic reform or direct community engagement. By ensuring these
interventions are well-structured and aligned with Schedule VII, companies can also seamlessly integrate
CSR efforts with broader societal development goals, achieving both compliance and lasting impact.
The State of CSR in India | Introduction 06
Aligning CSR focus with core business areas

Companies are increasingly aligning their CSR initiatives with core business goals and strategies, creating
synergies that drive both societal impact and long-term business growth. This approach embeds social
responsibility into their operations, allowing businesses to leverage their expertise, resources, and strengths
to address societal challenges directly linked to their industries. For instance, pharmaceutical companies
focus on improving healthcare access, preventive care, and medical innovations, aligning their CSR efforts
with their mission to enhance public health. Similarly, tech companies concentrate on digital literacy,
cybersecurity, and innovation-driven education, using their capabilities to close digital gaps and foster
technological growth.
By integrating CSR into their business models, companies create shared value that enhances both social
impact and competitive advantage. This strategy allows them to not only address critical societal needs but
also strengthen relationships with stakeholders and build a positive brand reputation. Furthermore, this
alignment fosters innovation and sustainability while positioning companies as leaders in tackling global
challenges like climate change and social inequality. In doing so, businesses can contribute meaningfully to
broader societal and environmental goals while ensuring their initiatives resonate with their brand’s core
purpose.
While education and healthcare remain top CSR

priorities, there’s a shift in emerging sub-areas
Between FY 2014-23, education maintained its position as the largest and most favoured recipient of CSR
funds, receiving 29.07% of the total allocation, while healthcare followed with 21.83%. However, there is a
noticeable shift in corporate interest toward funding emerging sub-focus areas within these sectors.
Increasingly, CSR initiatives are targeting contemporary issues such as digital literacy, STEM education,
cybersecurity, and vocational training to equip the youth with skills for a technology-driven future. In
healthcare, attention is expanding beyond traditional infrastructure support, with growing investments in
mental health, preventive healthcare, digital health and innovations in telemedicine and digitised healthcare,
reflecting the evolving needs of society and aligning with national priorities.
CSR funding doubles for livelihood projects and natural

resource conservation
CSR spending on livelihood enhancement has surged nearly twofold in FY 2022-23 compared to the previous
year, driven by India's young demographic, with over 50% of its population under 25. CSR now plays a key role
in bridging the skills gap by supporting upskilling and training programs to enhance employability. These
efforts align with national policies, including the Union Budget proposal to provide internships for 1 crore
youth, with corporates able to use CSR funds to cover 10% of the program's costs.
Simultaneously, CSR activities in the conservation of natural resources have seen a signi ficant increase,
driven by mounting concerns over climate risk and environmental sustainability. India faces significant
challenges from climate change, with projections indicating annual losses equivalent to 2.8% of its GDP due
to climate impacts¹. Recognising the escalating climate risks and the imperative of integrating
Environmental, Social, and Governance (ESG) principles, companies are increasingly embedding these
factors into their strategic frameworks and investment decisions. This ethos of sustainability has permeated
into CSR policies, influencing the expansion of initiatives aimed at natural resource conservation.
¹The Economic Times, Navigating climate risks: India’s financial sector gears up for transparency with RBI’s draft
guidelines. (2024, July 13)
Growing trend of CSR-to-CSR collaboration, in addition

to other partnerships
Companies are increasingly coming together to jointly invest and pool resources, expertise, and networks to
maximise the impact of their social responsibility initiatives. This growing trend of CSR-to-CSR collaboration
is built on leveraging individual expertise, resource pooling, and the sharing of knowledge and best practices.
This has been especially visible in sectors such as education, healthcare, and environmental sustainability,
where technology-driven solutions have emerged as transformative tools. For instance, several major tech
companies have collaborated to advance "tech for good" initiatives, working together to solve socio-
economic challenges by promoting digital literacy, access to healthcare through telemedicine, and
advancements in the circular economy.
Innovation and research-centric interventions are

gaining traction
India, despite its burgeoning innovation ecosystem and being home to the third-largest startup environment
globally, has traditionally lagged in public sector funding for R&D. Official data reveals that India invests less
than 1% of its GDP in research and development, a stark contrast to its global counterparts.
In response, CSR initiatives have emerged to fill this funding gap by channelling corporate resources into
fostering social innovation and R&D. Companies are increasingly directing their CSR investments toward
incubators, research centres, and university partnerships that focus on developing new solutions to pressing
societal problems. This not only bridges the funding deficit but also accelerates India's transition to a
knowledge-based economy. Through targeted investments in innovation, companies are supporting
advancements in areas like clean energy, healthcare innovation, and agricultural sustainability, ensuring that
India remains competitive on the global stage.
This trend is poised to gain further momentum, as the government also places a strategic focus on
innovation and research & development, as highlighted in the recent Union Budget. With a ₹1 lakh crore
allocation toward private sector-driven research and initiatives like the operationalisation of the Anusandhan
National Research Fund, the government is echoing the corporate sector’s push toward a more knowledge-
driven economy. State governments and Global Capability Centers (GCCs) are further complementing these
efforts by creating supportive environments for research-driven CSR interventions, thus strengthening the
ecosystem.
However, underserved regions continue to face funding

imbalance
In the nine years since the CSR mandate (2014-2023), over one-third (35%) of CSR funds have been
directed towards pan-India projects, covering multiple states. However, spending on these broad initiatives
has steadily declined since FY 2021-22. The remaining two-thirds were distributed among specific regions,
yet this broad allocation often overlooks the critical needs of India’s Aspirational Districts and other
underserved areas. Despite a 30% increase in spending in Aspirational Districts¹ compared to the previous
year, their overall share remains disproportionately low, receiving only 2.5% of total CSR funds. In FY
2022-23, INR 1,355 crore (4.5%) was allocated to these districts, which, though an improvement, still pales
in comparison to their pressing needs.
¹CSR spend in Aspirational District pertains to the amount that has been mapped to specific districts. ~80% of
the CSR amount is not mapped to any district.
The State of CSR in India | Introduction 08
According to the CSR law, companies are mandated to prioritise spending in local areas, typically
surrounding their operational bases. However, with many corporate headquarters concentrated in Tier 1
cities, CSR investments often fail to flow into regions most in need, such as Eastern, Central, and North-
Eastern India. These areas continue to face a persistent funding imbalance, limiting the potential for
equitable development across the country
Rise in unspent funds: Navigating the path between
financial growth and compliance obligations
India’s corporate sector has experienced an unprecedented surge in profitability over the past few years, with
over 33,000 companies witnessing nearly a fourfold increase in profit before taxes between FY20 and FY23¹.
This financial growth has been mirrored by a significant rise in CSR expenditures, with more than ₹29,000
crore allocated in FY 2022-23 alone—a 13% increase over the previous fiscal year.
A significant number of companies have failed to meet the mandated 2% CSR expenditure for FY 2022-23,
with 4.86K (~20%) companies underperforming—an increase of 1.5K from the previous year. This shortfall is
particularly concerning given that India's social sector is facing a projected funding deficit that could reach
INR 15 lakh crore by FY 2028². This regression could plausibly be attributed to a confluence of factors—a
ripple effect from the dampening global economic outlook, geopolitical tensions, and lingering supply chain
disruptions. Additionally, shifting corporate priorities in a post-pandemic environment may have diverted
attention away from CSR plans that were previously well-structured. A lack of accountability in some
organisations may further exacerbate this issue, with certain companies struggling to identify and implement
impactful CSR projects, resulting in unspent funds. This disparity is particularly striking given the stringent
penalties for non-compliance outlined in the Companies Act 2013, which imposes substantial fines on both
companies and defaulting officers under Section 434.
On a more optimistic note, the trend towards unspent CSR funds may signal a significant evolution in the
CSR landscape. Recent regulatory amendments allowing the transfer of unspent CSR amounts to "ongoing"
projects and permitting the carryover of funds for up to three years appear to have prompted a strategic
shift. Corporates are increasingly focusing on flagship programmes that align with longer-term impact goals,
moving away from traditional one-time donations and short-term projects with immediate but limited
results.
Expanding CSR horizons through portfolio
diversification
As the corporate landscape evolves, so must the strategies that underpin CSR. CSR policies should not exist
in a silo but should be aligned with the broader corporate strategy, where companies view their CSR efforts
as a powerful tool for executing their vision and addressing complex societal issues. Traditionally, CSR has
often focused on fragmented, singular initiatives driven by immediate regulatory compliance or short-term
social impact goals. However, to create sustainable, long-lasting change, CSR policies must move beyond
isolated projects toward a portfolio-based approach, viewing CSR efforts as a diverse, interlinked set of
initiatives designed to maximise both social returns and corporate value over the long term. CSR should also
be viewed through the lens of strategic vision, where companies identify and focus on key areas where they
can make the most significant impact.
¹Ministry of Finance, Government of India, 2024. "Economic Survey 2023-24"(https://www.indiabudget.gov.in/

economicsurvey/doc/echapter.pdf)
² India Philanthropy Report 2024. (2024, August 20). Bain. https://www.bain.com/insights/india-philanthropy-

report-2024/
In adopting this perspective, companies must also consider a more deliberate and nuanced framework for
determining the scope and focus of their CSR engagement. Rather than spreading resources thinly across
multiple sectors, a focused and intentional strategy that targets specific, high-priority issues can generate
outsized social returns. By curating a well-balanced portfolio of initiatives, CSR investments can act as
linchpins for wider social and economic progress, aligning social impact with corporate objectives in a way
that creates shared value.
Conclusion
The regulatory landscape for CSR in India is evolving to create more efficient channels for corporate
contributions. For instance, the Securities and Exchange Board of India (SEBI) has proposed an amendment
to the Companies Act, 2013, allowing donations made through Social Stock Exchanges (SSEs) to qualify as
CSR activities. This is just one example of regulatory shifts aimed at enhancing the effectiveness of CSR
initiatives and ensuring more impactful contributions to social causes.
As India continues to grow as the world's fifth-largest economy, this expanding regulatory framework is
crucial to aligning CSR efforts with the nation's economic and social ambitions. Moving forward, it will be
essential for companies to synchronise their CSR strategies with evolving sustainability compliance and
reporting standards. These changes encourage businesses to channel their resources toward sectors with
significant social gaps—particularly where public capital has been insufficient. The path ahead emphasises a
more targeted and transparent approach, ensuring that corporate resources are directed to where they can
make the most measurable impact.
The State of
CSR in India
An Overview
10 The State of CSR in India | Summary
Key Insights
In FY 2022-23, CSR
~₹1.84 More than 29K spend doubled in
3X 2X
spent on
crores spent in FY Conservation of
Lakh CSR since
its inception
2022-23 – a three Natural Resources
Crore in 2014.
fold increase in
nine years
and Livelihood
Enhancement
Projects sectors
50% of total CSR funding is from the top five industries :

BFS
IT / ITE
Oil, gas, coal and petroleu
Energy
Mining
Overall half of CSR implementation

Central
(93.6K Cr.) is via implementing region
agencies.
Eastern
region
In 2022-23, 56% (13.6K) In FY 2022-23, highest

companies spent more than gain was in the Central
their prescribed amount In FY 2022-23, more than 65% region (71%) followed
(19K Cr.) of CSR spend was by Eastern region at
through implementing agency 42% compared to FY
21-22
Cumulatively Aspirational
PSUs constitute 20% of total Districts received 2.5 % of the
CSR spend – their share in 20% (4.86K) companies spent
total CSR funds. In FY 2022-23,
annual CSR is declining since FY ess than their prescribed
l
INR 1,355 crore (4.5%) was
2020-21. amount in FY 2022-23.
spent in aspirational districts –
a 30% increase from it’s
previous year
The State of CSR in India | Summary 11
India’s CSR (2014-23)
More than More than 29K Annual CSR spend CSR spend across
1.84 Lakh crores spent in FY increased three last five years
Crore rupees 2022-23 – a 13% folds in nine years constitutes to
spent on CSR increase from more than 2/3rd
since its previous financial of total
inception year cumulative spent
since its inception.
India’s CSR Spend (2014-23)
Some constants
over the years:
Top recipient sector: Education
Top geography for CSR projects:

PAN India
Top spender company: Reliance

Industries
Top spender industries: BFSI and

Oil, gas, coal and petroleum
CSR Compliance (2014-23)
In FY 2022-23, 13.6K 4.86K (~20%) companies Number of companies

(~56%) companies spent less than their spending more than their
spent more than their prescribed. A increase of prescribed amount and
prescribed amount. 1.5K companies from the has been increasing
previous year (FY 2021-22). every year.
Companies' spends based on share of

CSR spend in 2014-23 (excluding
companies with zero spend)
Companies with annual Companies with annual More than 80% of the
budget in the range of budget of 500 Cr. companies fall under
100-500 Cr. and 1-10 Cr. contribute to 8-10% of < 1 Cr. annual budget
contribute to half of total annual CSR spend. category and they
annual CSR spend (1/4th contribute to ~13% of
each). annual CSR spend.
Where is India Inc.’s
CSR Money Going?
States highlighted in the box have:
low per capita high scores on multi- low scores on very low annual
GDP (less than dimensional poverty the NITI per capita CSR
INR 1 lakh) index (population Aayog’s SDG investments.
deprived in multiple index
dimension)
State-wise Average Annual
Per Capita CSR Funding (2014-23)
~146 INR is the average Annual per capita CSR Delhi, Goa and
CSR funding per capita funding is highest in Delhi Maharashtra are the
per year. (INR 372) top states with per
capita CSR funding of
more than 250 INR.
Flow of CSR Funds
across Regions (2014-23)
Companies headquartered in West and North CSR spend by companies in

tend to contribute equal or greater share of other regions is predominantly in
CSR spend in PAN India projects. their headquartered regions.
CSR Spend across SDGs (2014-23)
~30% is in SDG 4 -
Quality Education
~ 22% is in SDG 3 – Good

Health and Well-being
CSR Spend Details -
by Mode of Implementation (2014-23)
Cumulative distribution
(2014-23)
In FY 2022-23, more than 19K Cr. (65%) of CSR implementation via

CSR spend was through implementing agency implementing agencies has been
– a 4000 Cr. increase from the previous year. increasing year-on-year
CSR Spend Details -
by Mode of Implementation (2014-23)
In FY 2022-23, more than 19K Cr. (65%) of CSR implementation via

CSR spend was through implementing agency implementing agencies has
– a 4000 Cr. increase from the previous year. been increasing year-on-year
CSR Spend in Aspirational Districts

(2014-23)
419
~2.5% of the total CSR In FY 2022-23, INR 1,355 crore (4.5%)

spend has been in the was spent in aspirational districts – a
aspirational districts* 30% increase from it’s previous year
* ~80% of the CSR amount is not mapped to any district. CSR spend in Aspirational District pertains to the amount that has
been mapped to districts.
Note: The ‘Transformation of Aspirational Districts’ was launched in January 2018, with the aim to improve the
socioeconomic conditions in the 100 most backward districts of India, which would give a big boost to overall development
of the country. 112 districts were identified as aspirational districts.
CSR Spend in Aspirational Districts of

the States (2014-23)
25.20
Half of the total CSR funds to the mapped Note: ~80% of the CSR amount is not mapped
to any district. CSR spend in Aspirational District
aspirational districts has been in these seven
pertains to the amount that has been mapped
states to districts.
Madhya Pradesh (9.8%

The ‘Transformation of Aspirational Districts’
Andhra Pradesh (8.4%
was launched in January 2018, with the aim to
Jharkhand (7.1%
improve the socioeconomic conditions in the
Chhattisgarh (6.5% 100 most backward districts of India, which
Gujarat(6.3% would give a big boost to overall development of

the country. 112 districts were identified as
Odisha (5.4%
aspirational districts.
Uttarakhand (5.3%)
CSR Spend in Aspirational Districts

(2014-23)
In FY 2022-23, Vishakhapatnam Total CSR spend in top five aspirational

(Andhra Pradesh) and Purbi districts constitutes more than 1/3rd of the
Singhbhum (Jharkhand) received cumulative CSR spend in aspirational districts
more than INR 100 Cr. CSR Vishakhapatnam (Andhra Pradesh)- 10
amount. Singrauli (Madhya Pradesh) – 9.6
Haridwar (Uttarakhand) – 5.75
Korba (Chhattisgarh) – 5.18
Dohad (Gujarat) – 4.62%
Note: ~80% of the CSR amount is not mapped to any district. CSR spend in Aspirational District pertains to the amount that
has been mapped to districts.
The ‘Transformation of Aspirational Districts’ was launched in January 2018, with the aim to improve the socioeconomic
conditions in the 100 most backward districts of India, which would give a big boost to overall development of the country.
115 districts were identified from 28 states, at least one from each state
Analysis by
Company Type
The State of CSR in India | CSR analysis by company type 25
Share of CSR Spend - by Company

Type (2014-23)
PSU constitute to ~68% of companies ~26% of companies

~2% of companies are Non-Govt. are Non-Govt. Public
and more than 1/5th Private Limited and Limited and they
of total CSR spend. they constitute more constitute more than
than 22% of total half of total CSR
CSR spend. spend.
26 The State of CSR in India | CSR analysis by company type
CSR Spend Trends - by Company Type

(2014-23)
Even though the number Number of PSUs In FY 2022-23, even though

of Non-Govt. Public participation and number of Non-Govt. Public
Limited Companies the CSR spend has Limited companies
participating in CSR has been on decline participating reduced by 500
been around 4-5K, CSR since FY 2020-21. from the previous financial
spend has been growing year, CSR spend increased by
steadily over the years. 17% (2.5K Cr.). During the
same period number of PSUs
reduced by 18 and CSR spend
reduced by ~280 Cr.
The State of CSR in India | CSR analysis by company type 27
Share of CSR Spend -
by Company Category (2014-23)

28 The State of CSR in India | CSR analysis by company type
Share of CSR Spend - by Company

Listing (2014-23)
Analysis by
Region
29 The State of CSR in India |Analysis by Region
Where is India Inc.’s
CSR Money Going?
More than 1/3rd (35%)

of the CSR funds go to CSR projects with
Pan-India scope (projects spanning more
than one state).
The remaining 2/3rd

goes to specific regions.
How does it affect CSR reach into areas that need development capital the most?
Eastern, Central and North-Eastern regions receive lower CSR investments than others.
According to the CSR law:
“The company needs to give preference to the local area

and areas around where it operates, for spending the
amount earmarked for Corporate Social Responsibility
activities.”
The State of CSR in India |Analysis by Region 30
Region-wise CSR Spend
(2014-23)
Region-wise CSR Spend (2014-23)
More than 1/3rd of the Nearly 1/4th of CSR North-east and central
total CSR spend is for PAN spend is in the regions together
India (projects across western region. receive ~ 5% of total
multiple states). CSR funding
Region-wise CSR Spend Trends

(2014-23)
Share of regional Spend in PAN India In FY 2022-23, the

CSR spend has been projects has been highest gain was in
almost consistent for declining since FY the Central region
the last nine years 2021-22 (71%) followed by the
Eastern region at 42%
Region-wise CSR Spend (2014-23)
Share of spend in For last two years, In FY 2022-23, share

PAN India projects as ~30% of CSR spend of spend in Eastern
been declining is in the Western region increased by 2
region. percentage points
from previous year
(2021-22)
State-wise CSR Details by Region -

West (2014-23)

West (2014-23)
up by Central or State Government or other entities


South (2014-23)

South (2014-23)


North (2014-23)

North (2014-23)


East (2014-23)
State-wise CSR Details by Region - East

(2014-23)


Central (2014-23)

Central (2014-23)


North East (2014-23)

North East (2014-23)


PAN India (2014-23)

PAN India (2014-23)

Analysis by
State
The State of CSR in India | Analysis by State 50
Percentage Share of CSR Funds

Received by States (2014-23)
~16% of CSR is invested in Maharashtra, a state that has the highest

corporate presence among Indian states.
51 The State of CSR in India | Analysis by State
CSR Funds Received by Top States

(2014-23)
CSR funding has seen In FY 2022-23, among the top recipient states, most
an upward trajectory in increase in CSR spend was seen in these states:
all the top states. Rajasthan, Andhra Pradesh and Odisha (55%, 46%,
and 35% respectively).
Share of CSR Funds Received by States

(2014-23)
Small states and UTs receive least

amount of CSR funding
Flow of CSR Funds across States

(2014-23)
Most companies fund CSR projects in Companies HQ in Delhi invest in the

their HQ state or in PAN India projects. neighbouring states such as Punjab,
Haryana and UP.
Share of CSR Spend in States by

Company Type (2014-23)
Share of CSR spending in the northeastern, eastern, and

central regions is higher among PSUs (Government
Companies) compared to the private sector.
Growth of CSR Funds across States

(2018-23)
In FY 2022-23,
CSR funding Highest increase was Flow of funds in top geographies such
across most seen in states of as PAN India, Maharashtra and
states has Manipur, Jharkhand Karnataka has marginally changed
increased. and Chhattisgarh.
Analysis by
Sector
57 The State of CSR in India | Analysis by Sector
Sector-wise CSR trends
Education and Healthcare

are the most popular sectors chosen for CSR
projects, constituting to 50% of the total CSR
funds between 2014-2023.
3/4th of total CSR funding

is across top six sectors.
CSR spend in most sectors is highest across

projects in PAN India and Western region.
In FY 2022-23, Sectors where CSR Sectors where CSR spending has

spending has grown include declined include
Educatio Healthcar
Livelihood project Environment Sustainabilit
Conservation of Natural Resource Poverty Eradication, Hunger and
Training to promote sports Malnutrition
The State of CSR in India | Analysis by Sector 58
CSR Spend in Various Development

Sectors (2014-23)
Three-fourth of total CSR spend is in the top six development

sectors
Education – 53.5K (~29%
Healthcare – 40.2K (~22%
Rural Development projects – 16.1K (~9%
Environment and Sustainability – 12.2K (~7%
Poverty-Eradicating Hunger-Malnutrition - 9.8K (~5%
Livelihood Enhancement Projects - 7.4K (~4%)
Year-on-Year CSR Spend in Top

Development Sectors (2014-23)
Projects in top 5 sectors - Education, Healthcare, Rural Development,

Environmental Sustainability and Poverty-Eradicating Hunger-
Malnutrition have consistently received more than 1000 Cr. in CSR
every year
Share of CSR Spend in Development

Sectors by Company Type (2014-23)
CSR funding by PSUs (Govt. companies) is higher in sectors aligned

to central government projects.
Changing Trends in CSR Spend
in Top Development Sectors (2018-23)
In FY 2022-23, CSR spend almost doubled in Spend in Education sector also

Conservation of Natural Resources and increased by more than 50% after
Livelihood Enhancement Projects sectors. dipping in FY 2021-22.
Share of CSR Spend in Development

Sectors by Geography (2014-23)
CSR spend in most CSR spend in Share of spend in

sectors is highest environment related Sanitation related
across projects in PAN sectors (Environment projects was found high
India and Western Sustainability and in the Eastern region.
region. Conservation of Natural
resources) is highest in
Southern region.
CSR Spend in Education Sector

(2014-23)
CSR spend in Education More than 1/4th of CSR More than half of CSR
projects increased by 50% funding is from top two amount (54%) is
in FY 2022-23 from previous industries - IT/ITES and channeled via
fiscal year. BFSI companies. implementing agencies
CSR Spend in Healthcare Sector

(2014-23)
In FY 2022-23, CSR 1/4th of CSR funding is 50% of spend in

spend in Healthcare from top two industries - Healthcare is in top two
projects dropped by BFSI and Oil, gas, coal and geographies (PAN India
~1000 Cr. (13%) from petroleum companies. and Maharashtra)
previous fiscal year.
CSR Spend in Environmental

Sustainability Sector
(2014-23)
In FY 2022-23, CSR spend in Companies from top five 50% of project spend is
Environmental Sustainability industries constitute to via the implementing
projects dropped by ~500 Cr. 50% of the CSR funds in agencies
(22%) from previous fiscal Environmental
year. Sustainability projects
CSR Spend in Livelihood

Enhancement Projects Sector
(2014-23)
CSR spend in Livelihood 1/3rd of CSR 60% of the spend is

Enhancement projects nearly funding is from channeled via
doubled in FY 2022-23 from BFSI companies. implementing agencies
previous fiscal year.
CSR Spend in Training to

Promote Sports Sector
(2014-23)
CSR spend in Sports related 1/3rd of CSR funding is 58% of the spend
projects increased by 64% in FY from top two companies - is channeled via
2022-23 from previous fiscal Oil, gas,coal and petroleum implementing
year. from previous fiscal year. and BFSI. agencies
CSR Spend in Conservation of

Natural Resources Sector
(2014-23)
CSR spend in Conservation of 1/4th of CSR 76% of the spend

Natural Resources projects more funding is from is channeled via
than doubled in FY 2022-23 from BFSI companies. implementing
previous fiscal year. agencies
Analysis by
Industry
70 The State of CSR in India | Analysis by Industry
CSR trends - Industries
How industries spend their CSR:
The concentration of a particular industry in a region plays a significant role in driving
their CSR spend.
The top recipient of CSR funds from IT/
ITES industry is the southern region;
from mining industry it is the central and
eastern region,
and the Chemicals and Pharma industries
spends most of their CSR funds in the
western region.
Sectoral spread:
Education is the most popular sector overall. But not so for some – Pharmaceutical and
Chemical industries champion the cause of Healthcare, Mining funds Rural Development
Projects, Automotives and IT /ITES funds Environment Sustainability projects and FMCG
funds Gender Equality.
Spend:
In the last five years (2018-23), the few top industries that have increased their CSR spend
significantly - BFSI, Basic Metals and Alloys and Pharma.

Share of Top Industries Contributing

to CSR (2014-23)
Half of total CSR funding is from the top five industrie

BFSI (14.5%
IT / ITES (11.6%
Oil, gas, coal and petroleum (11.6%
Energy (7.8%
Mining (4.8%)
The State of CSR in India | Analysis by Industry 72
Year-on-Year CSR Funding by Top

Industries (2014-23)
In FY 2022-23, among the top industries, significant increase in CSR spend has been i
Basic Metals and Alloys – 135
Construction, Infra and Real Estate – 35
Chemical - 16
BFSI – 13%
Share of CSR Funding by Top

Industries in Top Development Sector
(2018-23)
Pharmaceuticals
More than 30% of BFSI and IT/ITES Rural Development

funding in Livelihood companies are strong projects are championed
projects is from BFSI promoters of by BFSI, Mining and
companies Environment related Energy companies.
projects
CSR Investments by BFSI

Companies (2014-23)
BFSI companies ~15% of CSR funding Primary funding is in PAN

consistently tops the is from BFSI India and Maharashtra.
industry list for CSR companies.
funding.
CSR Investments by IT/ITES

Companies (2014-23)
~12% of CSR funding is 40% of IT/ITES CSR 68% of implementation is

from IT/ITES companies. funding is in via implementing
Education. agencies.
CSR Investments by Oil, Gas,

Coal and Petroleum Companies
(2014-23)
~12% of CSR funding is 50% of their CSR amount 57% of implementation

from Oil, gas, Coal and is equally funding top two is via implementing
Petroleum companies. sector Education and agencies.
Healthcare.
CSR Investments by Mining

Companies (2014-23)
~5% of CSR funding is Apart from Education Preferred mode of

from Mining companies. their top focus sector implementation is
is Rural Development Directly by Company
Projects (19%). (68%)
CSR Investments by
Pharmaceuticals Companies
(2014-23)
~3% of CSR funding is Healthcare is the top 48% of implementation is

from Pharma preferred sector (45%) via implementing
companies. agencies
CSR Analysis
by Company
The State of CSR in India | CSR Analysis by Company 80
Share of CSR spend - by Company

Name (2014-23)
20% of total CSR funding is from the top 10 companies

Reliance Industries (3.8%
ONGC & Tata Consultancy Services (2.4% each
HDFC Bank Limited (2.2%)
81 The State of CSR in India | CSR Analysis by Company
Spending Trends of Top CSR Funding

Companies (2014-23)
Note: Data as updated on MCA portal as of Aug 2024. All amounts are cumulative and in INR Crores. Data for Tata Steel was unavailable for FY 2016-17
Since 2014,
Reliance Among the top Three of the top In FY 2022-23,

Industries companies, CSR ten CSR funding three companies
Limited has spend by HDFC and companies are spent more than
been the top TCS have been PSUs 700 Cr. in CSR.
CSR funder consistently
increasing.
The State of CSR in India | CSR Analysis by Company 82
Sectorial Focus of Top 10 CSR Funding

Companies (2018-23)
Overall, top 10 companies In FY 2022-23, highest Funding reduction was

primarily fund projects in change in funding by top seen in projects focusing
Education, Healthcare and companies was in in Poverty, Eradicating
Rural Development Livelihood Enhancement hunger and Malnutrition
projects. project (~700%). and Environmental
sustainability.
83 The State of CSR in India | CSR Analysis by Company
Geography Focus of
Top 10 CSR Funding Companies

(2018-23)
Overall, top 10 In FY 2022-23, highest Funding flow was

companies primarily funding change was in reduced in
have been funding the state of Jharkhand Maharashtra (-55%)
projects implemented (~300%). and Gujarat (-37%).
PAN India and
Maharashtra.
The State of CSR in India 84
CSR – next frontier
While some of the traditional Indian corporates have been actively involved in philanthropy for decades,
most other companies took their first steps into the social sector after the CSR law came into effect in
2014. In nine years of implementation, companies seem to have achieved a high level of legal
compliance.
The next frontier for companies will be to go beyond legal compliance, towards achieving a strategic and
long-term CSR vision. As analysed in this report
There are regional disparities in CSR spendin
Certain sectors need greater attention and funding
What’s next?
Companies can utilise their strategic competencies to align with impact goals
Social innovation and flagship CSR programmes are emerging areas of interest
Markets, investors, employees, business partners and the society are examining company’s social
responsibility today. CSR is becoming a strategic function for businesses.
If you would like to make informed decisions on your CSR strategy as a company, or fund-raising plan as a
social organisation, talk to us at [email protected] to discuss how we can co-create effective and high
impact CSR programmes with you.

We Partner to deliver societal impact at scale.
Sattva Consulting is a global impact consulting firm

from India. Since 2009 we have been engaging with
communities, business and government to achieve
societal impact at scale.
We believe that Civil society, Business and

Government all have a critical role to play in building
an equitable and sustainable world, and we actively
partner with all stakeholders to enable impact
through our advisory & orchestration services,
knowledge and data platforms which we have built
as public goods for the ecosystem and collaborative
solutions and partnerships.
Our teams are based in India, Singapore, Denmark

and UK, but as a global organisation our work has
spanned 25 countries and 5 continents. For more
information, please visit: www.sattva.co.in
India Data Insights (IDI), a Sattva Consulting

initiative, is an open data platform that serves as
your guide to actionable, ready-to-use data
insights. IDI provides quick and easy access to
data-driven insights on India's progress
towards Sustainable Development Goals (SDGs)
and the deployment of development capital,
enabling sharper decisions and greater impact in
India's development sector.
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The State of

About the CSR Data Guide

INR 1.84 Lakh Crore Rupees of CSR funding

In depth analysis of regional spend (six regions)

Development Projects and more)

Nine years of CSR (2014-23)

Industry and CSR spending trends

Peer trends by industry and company size

This data guide is an essential tool if you are a:

CSR practitioner working on creating effective programmes

Non-profit organisation looking to understand the funding landscape

Policy maker/ researcher studying CSR trends

communities, business and government to achieve societal impact at scale.

and collaborative solutions and partnerships.

25 countries and 5 continents. For more information, please visit: www.sattva.co.in

enabling sharper decisions and greater impact in India's development sector.

Corporate Social Responsibility

b. Annual turnover of INR 1000 Crore or more, OR

c. Net profit of INR 5 Crore or more.

Data sources and methodology

Data is as made available by the Ministry of Corporate Affairs as of Aug 2024.

Analysis by Company Type 24

CSR Analysis by Company 79

State of CSR report 2024

CSR’s shift to a problem-first approach

Aligning CSR focus with core business areas

While education and healthcare remain top CSR

CSR funding doubles for livelihood projects and natural

Growing trend of CSR-to-CSR collaboration, in addition

Innovation and research-centric interventions are

However, underserved regions continue to face funding

equitable development across the country

Rise in unspent funds: Navigating the path between

financial growth and compliance obligations

companies and defaulting officers under Section 434.

Expanding CSR horizons through portfolio

can make the most significant impact.

¹Ministry of Finance, Government of India, 2024. "Economic Survey 2023-24"(https://www.indiabudget.gov.in/

² India Philanthropy Report 2024. (2024, August 20). Bain. https://www.bain.com/insights/india-philanthropy-

~₹1.84 More than 29K spend doubled in

50% of total CSR funding is from the top five industries :

Overall half of CSR implementation

In 2022-23, 56% (13.6K) In FY 2022-23, highest

India’s CSR (2014-23)

India’s CSR Spend (2014-23)

Top recipient sector: Education

Top geography for CSR projects:

Top spender company: Reliance

Top spender industries: BFSI and

CSR Compliance (2014-23)

In FY 2022-23, 13.6K 4.86K (~20%) companies Number of companies

Companies' spends based on share of

Where is India Inc.’s

CSR Money Going?

States highlighted in the box have:

State-wise Average Annual

Per Capita CSR Funding (2014-23)

Flow of CSR Funds

across Regions (2014-23)

Companies headquartered in West and North CSR spend by companies in