To combat COVID-19's second wave, India Inc spent over Rs 16 billion

In an effort to combat the second wave of COVID-19 in the financial year 2020-21, India Inc has spent a huge sum of over Rs 16 billion, said a study conducted by CSR knowledge and impact intelligence portal CSRBOX.

In the study, over 350 public listed companies were included. It has revealed that over 750 corporate social responsibility initiatives were launched in response to the second wave.

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Almost 35% of these projects were implemented in Maharashtra, Gujarat, Karnataka and Uttar Pradesh.

The report, which has been titled CSR Response to COVID 2.0, says corporate India supported by providing over 200 oxygen plants, setting up more than 75 makeshift hospitals and covid wards with over 10,000 beds, 3,500 ventilators and 140,000 oxygen concentrators.

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Around 33 companies contributed over Rs 1.5 billion to conduct community awareness activities in 17 states.

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

(With inputs from agencies)