Fin Min Addresses IIT Madras Summit On CSR
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Sitharaman also inaugurated the revamped IIT Madras Heritage Centre and frequented the exhibition on ‘CSR – Developing engineering-led social impact’
Nirmala Sitharaman, Finance and Corporate Affairs Minister, Governing administration of India, took part in a CSR summit held today (18 Dec 2022) at Indian Institute of Technological know-how Madras (IIT Madras). She tackled the company and market leaders stressing on the need to have for collaboration by using CSR in investigate and advancement to foster innovation to travel Indian economic dreams.
Sitharaman participated in a town hall conversation with a cross-section of field leaders and learners on how to make CSR much more meaningful and enable very long-time period study collaboration.
Sector-Academia Panel Conversations were being held on related subject areas which include sustainability, innovation in health care and skilling the workforce of tomorrow to deliberate on suggestions to advertise higher collaboration in investigate by way of CSR.
Sitharaman also released a reserve titled ‘Data Sciences for Engineers,’ authored by Prof Raghunathan Rengaswamy, Dean (Global Engagement), IIT Madras.
She inaugurated a National Centre for Precision Drugs in Cancer, which attracted funding of Rs 29.73 crore with Karkinos Healthcare. The essential objective of this partnership is to boost the investigation perform of IIT Madras in Molecular Biology, Cell Biology, Genomics, Proteomics, Bioinformatics, Data Science and other interdisciplinary analysis to build cost-effective cancer care options
The ‘CAMS IIT-M Fintech Innovation Lab,’ established in partnership with Pc Age Administration Services (CAMS), was also inaugurated on the occasion. The objective is to establish a hub of investigation and utilized technologies in Fintech and linked used technologies. The multi-disciplinary lab will enable promote schooling and analysis in fintech and accelerate innovation in addressing field problems.
Sitharaman also inaugurated the revamped IIT Madras Heritage Centre and frequented the exhibition on ‘CSR – Developing know-how-led social influence.’
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Resource backlink The Indian Institute of Technology Madras (IITM) hosted a summit recently to discuss Corporate Social Responsibility (CSR). The event saw many prominent dignitaries including the Union Minister for Finance, Nirmala Sitharaman, who addressed the gathering on the role of government in tackling the challenges of Corporate Social Responsibility (CSR).
The minister highlighted the importance of CSR and its growing focus in India. She highlighted the fact that CSR is not just the responsibility of companies but the responsibility of civil society at large. She also highlighted the fact that the government had taken initiatives to ensure that there is greater compliance of CSR in India.
The minister further stressed that the government is focusing on creating a conducive environment for CSR activities to happen more effectively. She said that the Companies Act 2013 had included CSR as mandatory expenditure for companies above rupees 500 crores and that the government had also created a corpus of rupees 1000 crores for ‘India Innovation Fund’ to suppor innovative social projects
The minister also highlighted the need for greater private-public collaboration when it comes to CSR. She said that the government was actively looking at ways to facilitate synergy between the private and public sectors to ensure that there are maximum benefits from CSR activities.
The minister also highlighted the importance of ‘social audits’ for CSR activities in India to monitor and evaluate their success rate. She said this will not only help companies assess the impact of their activities but also help develop a comprehensive framework for creating socially responsible organizations.
The minister concluded her address by stressing that the government is committed to making sure that companies in India comply with their CSR responsibilities and that creating a socially responsible India is ultimately the responsibility of everyone.
