India Inc.’s Corporate Social Responsibility (CSR) spending

Consulting and research firm Fulcrum has released the Bharat CSR Performance Report 2026, presenting significant insights into the growth of Corporate Social Responsibility (CSR) spending in India. The report highlights the increasing commitment of corporate India towards education, healthcare, environmental sustainability, and inclusive social development.

India Inc.’s CSR spending reached a record high of Rs. 40,794 crore during FY 2024–25, registering a 17% year-on-year growth as companies expanded their investments across education, healthcare, and sustainability initiatives.

The cumulative CSR investment by Indian companies has now crossed Rs. 2.61 lakh crore over the past decade, demonstrating the growing role of businesses in supporting India’s social and economic development.

More companies came under the ambit of Corporate Social Responsibility during the year, with 1,012 new companies beginning CSR spending. This increased the total number of contributing companies to 29,546, representing a 9% increase compared to the previous year.

CSR implementation also expanded considerably, with the number of projects increasing by 21% to reach 72,233 projects across the country. The average project size stood at approximately Rs. 56.47 lakh.

Education remained the largest beneficiary of CSR spending, attracting Rs. 13,877 crore, accounting for 34% of the total CSR expenditure and recording a 14% increase over the previous financial year.

Healthcare ranked second among the priority sectors, receiving Rs. 8,531 crore, which represented 21% of the overall CSR investments.

One of the most significant developments was the sharp increase in funding towards environmental sustainability. CSR investments in this sector grew by 40% year-on-year to Rs. 3,397 crore, reflecting the increasing corporate focus on climate action, environmental conservation, and sustainable development.

Nearly 98% of the total CSR funds, amounting to Rs. 39,851 crore, were spent directly on social development projects. Only Rs. 943 crore, representing 2% of the total CSR expenditure, was transferred to government funds. This marks a decline compared to previous years and indicates that companies increasingly prefer implementing CSR initiatives directly to maximize social impact.

Among Indian states, Maharashtra emerged as the largest recipient of CSR investments, receiving Rs. 8,631 crore during FY 2024–25. Meanwhile, Gujarat recorded the fastest growth in CSR inflows with an impressive 68% increase over the previous year. Karnataka, Delhi, and Tamil Nadu also remained among the major beneficiaries of CSR investments.

The top ten companies together accounted for approximately 17% of the total CSR expenditure, contributing a combined Rs. 7,123 crore. This reflects a growing concentration of CSR spending among India’s leading corporations.

Reliance Industries Limited emerged as the highest CSR spender with an expenditure of Rs. 1,309 crore, followed by HDFC Bank Limited at Rs. 1,039 crore and Tata Consultancy Services (TCS) at Rs. 949 crore.

Over the past decade, CSR spending in India has expanded by more than 300%, growing at an average annual rate of approximately 15%, considerably faster than the country’s overall economic growth.

The report clearly demonstrates that Corporate Social Responsibility in India is no longer viewed merely as a statutory obligation. Instead, it has evolved into a strategic investment in education, healthcare, environmental sustainability, and inclusive community development. The growing emphasis on direct project implementation and long-term nation-building initiatives reflects the increasing commitment of corporate India towards creating sustainable social impact.