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Bombay Chamber CSR Conclave focuses on leveraging Technology for Social Good

With the new CSR mandate, companies in India must look to integrate digitalisation into their CSR journeys. Keeping this in context, Bombay Chamber of Commerce & Industry organised its annual CSR Conclave in Mumbai yesterday. The theme of the Conclave was CSR in the Digital Era.

In her opening remarks, Pinky Mehta, President, Bombay Chamber & Chief Financial Officer, Aditya Birla Capital said, “In today’s world, with technology and digital platforms revolutionising the way we live, work, and connect, CSR strategies need to embrace technology for driving meaningful impact.

With AI and Blockchain, ChatGPT and Data Analytics, digitalisation emerges as a potent instrument for organisations to magnify their CSR endeavours, engage stakeholders, and foster a culture of transparency and good governance. Leveraging technology for Social Good is not just a choice anymore, it is an
imperative.”

This was followed by a presentation by Aloka Majumdar, Chairperson, CSR Committee, Bombay Chamber and Managing Director, Global Head of Philanthropy & Head of Sustainability, India, HSBC. She shared the practical application of CSR integration into a business, and how she effectively facilitates collaboration and knowledge sharing on this very important area in her organisation.

She pointed out that there is increasing expenditure on CSR – as per the latest Economic Survey, CSR spending has increased from ₹17,096 crore in FY 2017-18 to ₹26,278 crore in FY 2021-22. “There is a growing need for enhanced governance for CSR across the grant cycle; increasing compliance (internal and external); greater focus on measuring outcomes, impact assessment, reporting and communication including disclosures; process improvements and building institutional memory,” she stated.

She elaborated on the need for technology in CSR. “We need to bring in technology and governance to increase compliance, BSR, ESG and other reporting. Raise funds for non-profit organisations and capture the right data,” she added.

The first panel discussion on Technology and Social Entrepreneurship Funding was moderated by Hemant Gupta, MD & CEO, EQUIPPP Desi Investments. The panelists included Anuj Sharma, Founder Director, Alsisar Impact; Jignesh Thakkar, Partner & COO, ESG Advisory & Head, Social & CSR Consulting, KPMG India and Vineet Rai, Founder and Chairman, Aavishkaar Group.

The discussion observed that Technology assists us in multiple sectors, hence it is both an enabler and a solution and service to all. In the role that technology should play in social development, localising the solution is very important.

A Fireside Chat on AI for Social Good saw Rakesh Kaul Punjabi, Technology Consulting Partner, EY India and Dr. Sujata Seshadrinathan, Director – IT, Basiz Fund Services, Mumbai in discussion with Hardik Parikh, Senior Consultant, Sattva.

The discussion revolved around three main aspects – the potential of AI for social good, the Indian AI landscape and how to bolster AI and the CSR system.

The second panel discussion focused on Leveraging Digital Platforms to drive CSR. The session was moderated by Ashwath Bharath, Senior Director, Teach For India and the panelists included Abhejit Agarwal, Head – Sustainability & CSR, Axis Bank; Shrutika Jadhav, Head- Catalytic Philanthropy, Dasra; Gopal Kumar, Head, CSR, Aditya Birla Capital and Prerana Langa, CEO, Aga Khan Agency, Habitat India.

The discussion revolved around using technology to reach out to the community effectively and transparently. The panel also called upon the need to invest in non profit building systems that reduce the time spent on compliance issues and reusing data ethically to be able to make decisions at a meta level.

The event was supported by Excel Industries.

A press release issued by the Ministry of Women & Child development stated that The SHe-Box portal is a crucial component in the government’s ongoing efforts to deter sexual harassment of women in workplaces across India. Serving as a centralized repository, the portal will store information about Internal Committees (ICs) and Local Committees (LCs) formed across both government and private sectors.

Copy of Press Release attached

Burden of proof of employer-employee lies with the person claiming such relationship

Copy of judgement attached

Criminal breach of trust is attracted only if the employer deducts the amount from the salary/wages but fails to deposit the amount with the EPFO

Copy of judgement attached

India is world-class cost-effective healthcare destination and global pharma leader: Jitin Prasada

Union Minister of State for Commerce & Industry Shri Jitin Prasada said that India has emerged as a world-class cost-effective healthcare destination and global pharma leader. The Minister stated this while inagurating the three day International Exhibition For Pharma And Healthcare Exhibition (IPHEX 2024) organised by Pharma Export Promotion Council of India (CAPEXIL) and Ministry of Commerce and Industry today at Greater Noida, Uttar Pradesh. He urged the Indian Pharmaceutical industry to work towards becoming the healthcare custodian of the world.

He urged the pharma industry to increase exports and seize emerging opportunities for growth. Shri Prasada said that India is already recognized as the ‘pharmacy of the world’. It’s extremely important that we focus not only on our strengths in the generic sector, but also ensure our backward and forward linkages, the Minister added. He further noted that its important that we try product development and break new grounds.

The Minister urged the industry to focus on innovation, quality and work with the world market. “International competitiveness will be very important. It is important to keep abreast of new developments and good manufacturing practices”, he said. He also noted that the Government has come up with many schemes like the PLI for APIs and for medical devices.

Shri Prasada said, “The three day pharma expo IPHEX will offer the domestic industry majors from India and all across the world a great platform to connect and do business. It will provide you with an opportunity to meet new and existing customers actively looking for new suppliers, or looking to assess the current progress of existing projects.”