Report: Indian companies pumped in Rs. 1,600 Cr as CSR on combat COVID 2nd wave

Hyderabad: India Inc. spent over Rs. 1,600 crore on combatting the second wave of COVID-19 during the financial year 2020-21. A study of over 350 public listed companies conducted by CSR knowledge and impact intelligence portal CSRBOX revealed that Indian companies launched over 750 corporate social responsibility initiatives in response to the second wave and 35% of these interventions were implemented in Maharashtra, Gujarat, Karnataka, and Uttar Pradesh.

Around 57% of the CSR initiatives to combat the second wave of COVID-19 were targeted at direct beneficiaries – COVID-infected people. More than 400 of the corporate CSR initiatives to combat the second wave of infections were aimed at procuring medical supplies, ventilators, and safety gear like PPE kits.

According to the report titled CSR Response to COVID 2.0, corporate India supported by providing over 200 oxygen plants, setting up more than 75 makeshift hospitals and COVID-19 wards with over 10,000 beds, 3,500 ventilators and 1,40,000 oxygen concentrators. Importantly, 33 companies contributed more than Rs. 150 crore to conduct community awareness activities across 17 states.

Bhomik Shah, the founder and CEO of CSRBOX, said, "Corporates have responded to COVID-19 with great urgency and remarkable flexibility, fast-tracking CSR project approvals for the timely procurement of essential medical supplies, working in tandem with Central and state governments and local agencies. We have witnessed unprecedented involvement by corporate India in responding to the situation on the ground."

The report covers the response of 350 large companies to the second wave of COVID-19 and is an attempt to map and record the work done by CSR foundations to fight the pandemic.