India’s CSR law
Just as Corporate Social Responsibility is being recognized as ‘smoke and mirrors’, the Indian government is going to force companies into it. India’s CSR law requiring companies to spend 2% of net profits on CSR makes India an even worse place for business than it already is. India is legendary for being business…
Companies with the most ‘guilt’ and critics, tend to have the most CSR. Tobacco, Oil companies, etc, spend huge amounts of time and money on CSR or what Friedman called, ‘window dressing’. Ironically, CSR can be used (inversely) to measure how ‘bad’ a company is.