What happens when firms have to stump up for good causes
An Indian experiment in corporate social responsibility
KITEX GARMENTS is one of the largest private companies in Kerala, a communist-led state in southern India. Its embrace of corporate social responsibility (CSR) is enthusiastic. In the fiscal year ending in March 2020 it allocated 5.3% of its average profit over the past three years to public roads, schools, housing and safe drinking water. That makes it a poster-child for an Indian law passed in 2013, in the aftermath of a corporate fraud scandal, that requires Indian companies to divert at least 2% of annual profits to CSR projects.
This article appeared in the Business section of the print edition under the headline “Giving and taking”
Business January 9th 2021
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