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Corporate India through their Corporate Social Responsibility initiatives can play an enormous role in unleashing the economic potential of India's North East Region, Union Minister of State for External Affairs and Education Rajkumar Ranjan Singh said on Monday.
He urged the corporate sector to participate in the overall growth of the relatively less developed northeast region. "Northeast is witnessing a dawn of new hopes and opportunities. Industry must be part of the growth story by exploring ways and means to join hands with the state governments. Corporate India through their CSR (corporate social responsibility) can play as a facilitator in this," Singh said addressing FICCI CSR Summit and Exhibition. The minister, who belongs to Manipur, said that corporate social spending has increased substantially in the last few years. "Corporate India has been generous and around 28 per cent of India's total expenditure on philanthropy comes from the corporate sector which roughly translated to Rs 17,000 crores in 2020. The CSR spending of business community, if married well with the national development priorities will positively impact our society, and people play a supplementary role in all government's efforts," Singh said, according to a FICCI release. The minister said that CSR can make a more effective contribution in all the sectors of the economy as corporate India has immense exposure to the grassroots and understands well what is needed for the country to keep growing. (ANI)
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