Can Businesses Drive Social Change While Growing Profits?

When business injects purpose into profit, they are not merely achieving CSR compliance—they are creating shared value. Indian and international corporates are employing CSR to generate tangible social value while building brand equity, supply chains, and stakeholder trust.

This blog explores how Indian companies—and multinationals—are redefining CSR not as charity, but as a strategic enabler. We focus on real corporate-led initiatives that create shared value, supported by the latest statistics.

What is shared value, and why is it important?

Shared value refers to business models that address social needs while also generating economic returns. Instead of supporting social issues through one-off donations, companies embed social value into their core operations—making social impact a part of doing business.

 As per The CSR Universe,

• 87 percent of millennials and 94 percent of Generation Z believe that businesses will address social problems.
• 55% of Indian consumers are willing to pay extra for socially responsible products.
•  Firms with formal CSR programs have 72% employee participation, and firms without them have 31%.

 This turns CSR into a business necessity, rather than a compliance.

CSR on the Rise in India: Trends & Statistics

In FY 2023‑24, CSR expenditure by listed Indian companies stood at ₹17,967 crore, compared to ₹15,524 crore in the earlier year.

• Nearly 98% of them were complying, and about half spent above the statutory minimum of 2% profit expenditure.
• Substantial funds are distributed to education (₹1,104 crore), healthcare (₹720 crore), and green initiatives.
• The leading states like Maharashtra and Tamil Nadu received the lion’s share; the rest remain underserved.
• The top 75 tech companies have cumulatively invested ₹5,443 crore in 2,610+ CSR projects, using AI and data for social good in education, upskilling, healthcare and climate.

Examples of Real Shared Value CSR in India

Tata Steel: Livelihoods, Education, and Women’s Empowerment

Tata Steel invested ₹481 crore in CSR in FY 2022–23—impacting 150,000+ children, 1.2 million individuals in healthcare, and 100,000+ women and tribal livelihoods. They work on education, environment, sports, and disaster relief as part of the UN SDG-aligned impact approach.

Mahindra Group: ‘Project Nanhi Kali’ & ‘Hariyali’ Project

Mahindra Group’s flagship initiatives—Project Nanhi Kali and the Hariyali Campaign—demonstrate how deeply integrated CSR can create long-term shared value. Nanhi Kali educates and guides more than 153,000 girls. Hariyali conducts million tree plantation campaigns. All these co-created value actions create market presence while empowering rural communities.

Hindustan Unilever (HUL): Project Shakti & Swachh Bharat Hygiene Campaigns

 Project Shakti has established a robust network of 160,000 rural women micro-entrepreneurs, expanding rural access to the economy and business extent. This initiative not only empowers women with livelihood opportunities but also expands HUL’s rural market reach, creating a win-win model of economic inclusion and business growth.

In parallel, HUL’s Lifebuoy handwashing campaigns, aligned with the Swachh Bharat Mission, have reached over 100 million people across India. It has contributed to improved public health outcomes by reducing disease transmission and lowering healthcare costs.

BPCL: Project Sunrise & Sanitation, Education

BPCL renovated more than 500 govt. schools with infrastructure, labs, and sanitation according to Swachh Bharat mission, reaching 100,000+ students. Through cause‑aligned CSR they improve business reputation as well as public trust.

ITC Limited: e-Choupal Network and Social Forestry

 ITC’s e-Choupal website has reached 4 million farmers in 35,000 villages, providing price transparency and increasing income. In addition to this, its social and farm forestry program has been extended over 295,000 acres in almost 4,900 villages, affecting 109,000 families and creating rural employment.

Birlasoft: Project Shodhan (Crop-Stubble & Air Quality)

Birlasoft’s Project Shodhan solved crop stubble burning on 43,000+ acres in Punjab and Haryana, enhancing air quality and farmers’ revenues. They scaled up to 50 villages and received CSR impact awards for environmental shared value.

Shared Value: Implemented Worldwide by Corporates

• Mastercard’s Strive India Program

Mastercard aimed to reach 500,000 small businesses in India by 2025 and already had 500 million people covered globally through financial inclusion efforts. The initiative aligned financial access with business expansion and brand credibility.

• Body by Patagonia & Nestlé’s Sustainability Ventures

Patagonia’s waste-reduction CSR and Nestlé’s recycling, waste management, and infrastructure activities build sustainability into products—waste reduction, reputation creation, and local livelihood enhancement.

• Cisco, NVIDIA & Hilton (US context)

As per PEOPLE’s 2024 Companies That Care, Hilton, NVIDIA, Cisco, and so forth, advocate for homelessness, clean water, inclusion, and pro-bono community service—showing how CSR generates long-term stakeholder trust and brand loyalty in developed economies.

How Corporations Make Corporate Social Responsibility into Shared Value

1. A. Connect CSR with Core Business Strengths: Companies like ITC (agribusiness), Tata Steel (urban agglomerations) and HUL (consumer hygiene) design CSR to leverage their strengths—making system-level interventions that also strengthen supply chains and brand equity.
2. B. Engage Local Communities as Partners: Shared value initiatives flourish when stakeholders are engaged as co-designers. Mahindra’s Nanhi Kali engages parents and teachers, while Tata Steel’s skill programs have community trainers.
3. C. Measure Impact Transparently: While companies like Mastercard publish annual reports on their support for small businesses, most Indian companies fall short—despite commissioning third-party audits, only 30% make them public. This highlights a significant transparency gap in CSR reporting.
4. D. CSR is no longer a standalone effort: Align it with ESG goals and your company’s core purpose for greater impact. It should be integrated with sustainability, DEI, and governance reporting. Forward-thinking corporates incorporate sustainability into wider ESG frameworks.

Obstacles Along the Way to Shared Value

• Excessive concentration of CSR funds in urbanized states (Gujarat, Maharashtra) leaves northeast and rural areas underserved.
• Short-term, box-ticking initiatives constrain transformative effects.
• Weak M&E: little reporting of results beyond spends. Regulatory inflexibility discourages innovation; e.g., unused money and low flexibility in Schedule VII.
• Coordination between NGOs remains weak, affecting implementation and ownership.

How Chrysalis Services Helps Corporations Build Shared Value

At Chrysalis Services, we assist in transforming CSR into strategic, shared-value initiatives by:

• Purpose-driven CSR strategy: Connecting CSR to business strengths, SDGs, and societal needs.
• Impact architecture: Designing M&E systems, dashboards, and evaluator partnerships.
• Capacity building & local engagement: Capacity building and mobilizing local partners for co-creative implementation.
• Sustainability reporting: Integrating CSR results with ESG disclosures for worldwide conformity.

Key Takeaways:

Strategic Advantage

Modern, business-focused CSR is no longer an afterthought—it’s a strategic tool that builds supply chain resilience, strengthens brand equity, and fosters community co-creation.

Trust and Sustainability

By aligning with real needs on the ground, CSR helps businesses earn long-term community trust and promote sustainable practices that go beyond short-term optics.

Measurable Outcomes

Impact-driven CSR enables transparency, credibility, and continuous learning, making it easier to track success and share results that matter.

ESG Integration

Well-designed CSR facilitates regulatory compliance, supports ESG goals, and boosts investor confidence—especially as stakeholders demand greater accountability.

From Compliance to Strategy

Across India, corporate CSR is transforming—from a box-ticking obligation to a strategic business practice that creates value for both society and the company.

With shared value as the guiding principle, businesses can address societal issues while driving sustainable growth.

Sources:

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Business Standard. (2024). India Inc’s CSR spending trends in FY23-24. Grabbed at https://www.business-standard.com

HCL Foundation. (2024). Annual Impact Report 2023–24. Pulled from https://www.hclfoundation.org

India Development Review. (2023). Why companies must shift from CSR to shared value. Read it at https://idronline.org

Infosys Foundation. (2024). CSR Activities and Initiatives Report. Available at https://www.infosys.com

KPMG India. (2024). India’s CSR Reporting Survey 2024. Peek at https://home.kpmg/in/en/home/insights/2024/01/india-s-csr-reporting-survey.html

Ministry of Corporate Affairs. (2023). Corporate Social Responsibility – Legal Framework and Updates. Government of India. Found at https://www.mca.gov.in

Tata Steel Foundation. (2024). Annual Report 2023–24. See it here: https://www.tatasteelfoundation.org

The Economic Times. (2024). How CSR is evolving in India: Top companies’ role. Right here: https://economictimes.indiatimes.com

World Business Council for Sustainable Development (WBCSD). (2024). Global CSR and ESG Trends Report. Scooped up from https://www.wbcsd.org