Can money alloted for CSR activities in India help the MSME sector? A report released by Avian Media,in association with PHD Chamber of Commerce, titled" Bolstering MSMEs For Make In India: WIth Special Focus on CSR"; makes a strong pitch for using CSR funds to buld the MSME sector to India. As per the Companies Act 2013, any firm with a minimum net profit of 5 crore rupees has to invest 2% of its net profit on CSR. According to the report, this means the CSR rules can be interpreted to include skill building opportunities for MSMEs which are now in the CSR fold.
Nitin Mantri, CEO, Avian Media spoke to PRmoment India about how CSR can play a role in MSME activities and of the importance of PR firms investing in India specific research Take a look at the video:
India is the only country in the world where CSR contributions are mandatory. As companies look for ways to meet their legal requirements on CSR, they will look to various experts including CSR practices within PR firms for suggestions on not only what activities to take up, but to actually implement them.