From CSR to responsible business
The crux of business responsibility is not only a totality-of-business approach, but also the need to go beyond the legally mandated
“Giving back" continues to be the flavour of the day, particularly among returning NRIs and domestic billionaires. The latter have been egged on by the likes of Bill Gates (through his personal example) to committing substantial parts of their wealth to charity. While yet limited, any such philanthropic action by individuals is welcome, all the more so in a country where—as a recent report by Oxfam International highlights—1% of the population owns 58% of the wealth.
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