India Inc must look beyond traditional CSR at more sophisticated forms of philanthropy: Ratan Tata

He advocates leaving the traditional course of philanthropy, and focussing on a few causes.

Industry ace, Ratan Tata has a fresh approach to the art of giving.
It is hardly uncommon to hear about the philanthropic initiatives of the Tata Group. But it is quite rare to hear the former Tata Sons chairman, Ratan Tata, speak about the subject. In an interview, Tata recently spoke about his approach.

He said, “If I put it into one sentence, I think, you really want to do things that make a difference.” He gave the example of Dr Jonas Salk, who invented the polio vaccine and the feeling of satisfaction he may have experienced after. Similarly, Tata said he liked supporting causes where he could make a difference, rather than just scratch the surface.

Making a case for strategic philanthropy, he said, “A lot of money is less effectively used than it could be because an organisation has not done enough research. Today, a large amount of philanthropy in India is deployed in traditional forms like building a temple or a hospital. India has to move into a more sophisticated form of philanthropy that is designed to make a difference rather than building edifices.”

Corporates and CSR

“I think many CEOs would say that they are doing it [CSR] because it is required,” he said. “But if we can get even a small number committed to make a difference, I think we will get projects that will be showcases of what one can do with such funds.”

He also warned of CSR funds being abused, and stressed on the need for government regulations. His suggestion, “It would not be a bad thing if the government designated causes to which companies could give funds. Even large public works projects could be funded this way.”.
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.




More from our Partners

Loading next story
Text Size:AAA
This article has been saved