CSR Spending By India’s Top 100 Firms Rises 29% To Rs 12,897 Crore

Corporate Social Responsibility (CSR) spending by India’s leading companies has seen significant growth, with the top 100 listed firms spending Rs 12,897 crore in FY24, a 29% rise over FY22, as per ICRA ESG’s report “Beyond Compliance: CSR Leadership Among India’s Top 100 Companies”.

The report highlights that 73% of companies fully utilised their CSR budgets, while 48% spent beyond the mandated 2%. Education and healthcare were the largest focus areas, receiving Rs 12,134 crore and Rs 7,151 crore, respectively. CSR allocations to aspirational districts also expanded, covering more than 100 of the 112 identified regions. Sectorally, oil and gas companies, private banks, and iron and steel firms led CSR contributions. At the company level, HDFC Bank, Reliance Industries, TCS, and ONGC emerged as top spenders. The findings indicate a strategic shift towards aligning CSR with sustainable development and national priorities.