This has been done as a part of my study of Corporate Social Responsibility in India. (CSR) is mandatory for certain companies under Section 135 of the Companies Act, 2013. These companies, meeting specific financial criteria (net worth, turnover, or net profit), must spend at least 2% of their average net profit from the preceding three years on CSR activities.
I picked up one area of interest as well as concern
✅️India’s approach to corporate social responsibility (CSR) concerning the care of the elderly presents both significant challenges and promising opportunities.
✅️One key challenge is the rapidly aging population, which strains existing healthcare infrastructure and social support systems.
✅️Many elderly individuals face issues such as inadequate healthcare, social isolation, and financial insecurity.
✅️Additionally, there is often a lack of awareness among corporations about the importance of integrating elderly care into their CSR initiatives, resulting in fragmented efforts that do not address the holistic needs of older adults.
✅️However, this scenario also opens up substantial opportunities for Indian corporations to play a transformative role in elderly care.
✅️By channeling resources into healthcare, community engagement, and social support programs, companies can improve the quality of life for seniors while simultaneously fostering social goodwill and brand loyalty.
✅️The best way forward involves adopting a strategic and inclusive approach to CSR that prioritizes sustainable elderly care initiatives.
✅️Corporations should embed elderly care into their core CSR agendas, encouraging long-term projects like healthcare infrastructure development, skill-building programs for caregivers, and social inclusion activities.
✅️Emphasizing partnerships and leveraging technology—such as telemedicine and senior-friendly digital platforms—can also enhance outreach and efficacy.
✅️Overall, a proactive and compassionate approach can help address the challenges faced by the elderly in India, turning CSR efforts into meaningful societal change.
✅️To the powers that be, and the decision makers, from the Corporate CSR corpus being collected, just 5-10 percent needs to be mandatorily allocated to the wellbeing of the generation that helped, over the past four decades, India reach this level of development.
✅️For a country the size of India, only the government may not be able to manage, and the private sector with pure profit objectives may not be giving back in the true sense.
✅️As a nation, we have the collective capability, desire and will to make this happen.
✅️Thanks to Jayant Mundhra and Zerodha one, and some of my silent supporters who have helped in this exercise
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