IslamicFinance.de

India is the first country in the world to enshrine corporate giving into law. Following a change in company law in April 2014, businesses with annual revenues of more than 10bn rupees (£105m) must give away 2% of their net profit to charity. Areas they can invest this money in include education, poverty, gender equality and hunger. Two years on, overall charitable spend by companies has increased. Yet fears that companies would find ways of avoiding shelling out for good causes appear equally well-founded. A survey found that 52 of the country’s largest 100 companies failed to spend the required 2% last year.