India, July 16 -- As India pursues the vision of Viksit Bharat 2047, corporate social responsibility (CSR) is being viewed through a different lens. More than a decade after CSR spending became mandatory under the Companies Act 2013, the debate has shifted; the question is not whether companies should contribute to social development but whether those contributions are producing measurable and lasting impact. As India seeks to become a developed economy by the year 2047, the quality of corporate participation in social development will matter as much as the scale of corporate investments.

This calls for a broader rethinking of how businesses define their role in society. CSR is no longer viewed solely as a statutory obligation; increasin...