Hugo Swire, FCO Minister of State welcomes contribution of UK companies to Indian CSR
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Newly opened British Business Centre will support UK exporters in working with Indian business.
The Rt Hon Hugo Swire MP hosted a roundtable with some of the UK’s top businesses in India at the British Business Centre in Gurgaon to discuss their work on and contributions to Corporate Social Responsibility (CSR) initiatives in India.
The Minister toured the newly opened British Business Centre – established to provide facilities to support UK companies interested in entering the Indian market, and also heard from more than a dozen of the UK’s top businesses about how the Companies Act 2013 is helping promote Corporate Social Responsibility (CSR) in business and how UK companies are helping to contribute to India’s prosperity agenda.
Hugo Swire said:
The Companies Act will have a profound impact on the CSR landscape, and I am delighted that British companies are working closely with Indian business and developing partnerships to help share UK expertise in this area.
British companies are expected to contribute around £100 mn per annum to CSR work in India under The Companies Act. The wide range of work and initiatives already being undertaken emphasises that we are here as a long-term partner with India, working in support of India’s goals and objectives.
Richard McCallum, Managing Director, UK India Business Council India said:
We are pleased to host the Minister at the UK India Business Centre and a roundtable on CSR, which is a topical and important issue in India today. We are also delighted to sign a MoU with the British Business Group (BBG) in Delhi, which will enhance our ability to jointly support British companies looking to enter or expand into the Indian market. I am excited by the prospect of working much more closely with BBG Delhi.
Research conducted by NextGen has indicated that UK companies will contribute around £100m per annum to CSR work in India under the Companies Act 2013. NextGen is India’s largest Sustainability and CSR Management company working with Fortune 500 clients across 16 sectors, helping them maximize the SEROI (Socio-Enviro Return on Investment). Previously incubated at IIM-Bangalore and BITS-Pilani, NextGen has developed India’s first CSR and Sustainability IT Tool on the cloud. NextGen works closely with policy makers including the Ministry for Corporate Affairs on developing an enabling ecosystem for implementation of Section-135 (CSR Norms) of the Companies Act, 2013.
The UK India Business Council (UKIBC) is the premier business-led organisation promoting bilateral trade and investment between the two countries. Its mission is to facilitate an increase in trade between the UK and India through business to business dialogue. UKIBC plays an influential role in creating and sustaining an environment in which free-trade and investment flourishes. Through the facilitation of partnerships, and with an extensive network of influential corporate and individual members, UKIBC provides the resource, knowledge and infrastructure support vital for UK companies to make the most of emerging opportunities in India.
British Business Group (BBG) is a forum for British and Indian companies and individuals to meet, exchange ideas and network in friendly and informal surroundings.
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