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Gates, Buffett meet Indian billionaires, India Inc against mandatory CSR
The two biggest names in philanthropy - Bill Gates and Warren Buffett are in New Delhi, to try and convince Indian billionaires to join their philanthropic efforts. Buffett and Gates held breakfast and lunch meetings with captains of Indian industry - including Adi Godrej, Naina lal Kidwai and Analjit Singh, to discuss the scope of philanthropy.
The two biggest names in philanthropy - Bill Gates and Warren Buffett are in New Delhi, to try and convince Indian billionaires to join their philanthropic efforts. Buffett and Gates held breakfast and lunch meetings with captains of Indian industry - including Godrej Industries ' Adi Godrej, banker Naina Lal Kidwai and Max Group chairman Analjit Singh to discuss with them the scope of philanthropy.
The message bourne by Buffet, Bill and Melinda Gates was welcomed by India Inc. However, India Inc took this opportunity to take another crack at the government saying the proposal for mandatory corporate social responsibility (CSR) should be scrapped.
Wipro Chairman Azim Premji said," I don think we generate CSR by putting statutory requirements. There's enough consciousness among big companies. There's possible abuse- what is CSR? And what you define as brand building. I would be against it."
"I don't think it needs to be mandatory. But I do think we should encourage people. Most people today are living better lives than what their forefathers did. So, I think we should encourage philanthropy but I don't think it should be mandatory," Piramal Group Chairman Ajay Piramal said.
