ICC Hosts 8th Social Impact Summit, Experts Emphasise Sustainable Development and Social Innovation

Kolkata, March 12, 2026: The Indian Chamber of Commerce (ICC) hosted the 8th Social Impact Summit and Awards on Thursday, bringing together experts from diverse fields who emphasised the need to shift Corporate Social Responsibility (CSR) initiatives from symbolic philanthropy to structured, measurable interventions capable of driving long-term social transformation. Speakers highlighted the importance of evidence-based impact assessment and collaborative development models to ensure inclusive growth.

Mr Keshav Bhajanka, Vice President of the Indian Chamber of Commerce and Executive Director of Century Plyboards (India) Ltd., said social impact initiatives in India must move beyond intent and compliance to focus on measurable, sustainable and scalable change. Addressing the valedictory session of the summit, he said, “Inclusive growth is both an economic and social imperative as India undergoes rapid transformation.” Bhajanka highlighted the importance of collaboration between government, industry and civil society to address social challenges.

He added, “India has lifted around 270 million people out of poverty between 2011 and 2023, while CSR and philanthropic funding—averaging ₹50,000 crore annually—continue to strengthen the country’s social development ecosystem, particularly in education, healthcare and rural development.”

Addressing the event, Prof. SP Gon Chaudhary, President of the National Board for IT Research and Training (NBIRT) and Mission Innovation Champion at Mission Innovation, said achieving sustainable development requires a strong focus on sustainable technologies and innovation across sectors.

“Achieving sustainable development requires strong focus on sustainable technologies and innovation across sectors,” Chaudhary said.

He noted that India has made significant progress in renewable energy, citing more than 140 GW of solar installations and the national target of achieving 500 GW of renewable energy capacity by 2030. According to him, this transition is creating vast opportunities for industries, startups and young entrepreneurs.

Chaudhary added that the expansion of solar and wind energy, the development of large solar parks, green power corridors and hybrid renewable projects will play a crucial role in reducing dependence on coal-based power.

He also highlighted the importance of energy efficiency measures such as LED lighting, star-rated appliances and rainwater harvesting. “The rapid growth of electric vehicles and advances in battery technologies including lithium-ion, lithium iron phosphate and sodium-ion batteries are further accelerating the shift towards cleaner energy systems,” he said.

Pointing to emerging areas, Chaudhary said green buildings, low-carbon construction materials and passive solar architecture are becoming key contributors to sustainability. He stressed that greater focus on research, investment and technological development will be essential to achieve long-term climate goals.

“Collective action from researchers, industry, entrepreneurs and society is essential to achieve net-zero emissions by 2070 and protect the planet for future generations,” Chaudhary said.

Dr Kunal Sarkar, Director and Senior Consultant Cardiac Surgeon at Manipal Hospitals, commended organisations, NGOs and corporates recognised at the summit for their role in creating meaningful social impact in communities that often lack basic amenities and opportunities for improved living standards.

“India’s healthcare sector has historically grown from a strong foundation of social service and continues to benefit from the awareness and support of people beyond the medical community,” Sarkar said.

Reflecting on the country’s progress since independence, he noted that India has come a long way from a time when life expectancy was below 40 years, women’s life expectancy was around 32 years and literacy was under 20%.

Despite these achievements, Sarkar cautioned that challenges remain. “Our literacy rate has stagnated at around 80% for nearly 15 years, and more than 100 districts still record literacy rates of about 50%. This gap calls for collective action,” he said.

Highlighting developments in healthcare, he said India now performs nearly 350,000 heart surgeries annually but stressed that the key issue is not a lack of resources. “The real challenge lies in outreach and ensuring equitable access to healthcare services,” Sarkar said.

He also credited NGOs for driving major public health and education milestones. “Campaigns like polio eradication and community education initiatives led by NGOs have played a crucial role and even inspired national programmes such as Sarva Shiksha Abhiyan,” he added.

Sarkar further pointed out that India has emerged as a global healthcare destination. “India has become a unique country where patients from wealthier nations travel for treatment, which reflects the strength and growing capabilities of our medical sector,” he said.

Urging organisations to look ahead, Sarkar called for greater use of technology. “We must harness technology and artificial intelligence to expand social outreach and deliver services to communities that need them most,” he said.

He added that in recent decades India has doubled life expectancy to around 70 years, reduced maternal mortality by nearly 300%, and cut infant mortality by about 200%.

Mr Rajiva Sinha, Chairman of the Rajiva Foundation, said corporate social responsibility should prioritise long-term structural change over short-term charity. He emphasised that CSR must move beyond symbolic efforts and focus on measurable, sustained social transformation. Impact, he added, should be assessed not only by outputs such as distribution drives but by whether communities experience lasting improvement and generational mobility.

Referring to development initiatives in West Bengal, Sinha said targeted interventions in the handloom sector have helped restore dignity and recognition to traditional artisans, with the number of Muslin weavers increasing over time. He also cited the transformation of Kantha artisanship in Nanur, where improved market linkages have significantly raised women’s earnings.

Mr Saikat Basu, CEO of Consultivo, said, “Effective CSR programmes require structured design, credible baselines, systematic implementation and robust monitoring. CSR in India has become an important mechanism for inclusive development and should be guided by equity, sustainability, innovation and collaboration.”

He also stressed aligning CSR initiatives with the United Nations Sustainable Development Goals and ensuring projects remain viable beyond initial implementation. According to him, meaningful social impact requires partnerships among industry, government and civil society.

Dr Rajeev Singh, Director General of the ICC, delivered the vote of thanks, expressing gratitude to the distinguished speakers, partners and participants for their valuable contributions.

“The discussions at the summit reaffirmed the importance of collaborative action among government, industry, healthcare professionals and civil society to advance inclusive growth, sustainability and innovation in India. I thank all stakeholders for their continued commitment to driving meaningful social impact,” Singh said.