Gujarat has emerged as the fastest-growing destination for Corporate Social Responsibility (CSR) investments in India, recording a remarkable 68% year-on-year increase in CSR spending during FY25, according to the Bharat CSR Performance Report 2026 released by Vadodara-based CSR consulting and research firm Fulcrum.
Companies invested ₹4,549 crore in social development initiatives across Gujarat during the financial year, making the state the second-largest recipient of CSR funds in the country after Maharashtra, which attracted ₹8,631 crore in CSR investments. Gujarat’s expenditure accounted for nearly 11% of India’s total CSR spending, significantly outperforming the national CSR growth rate of 17%.
According to the report, Gujarat’s exceptional growth has been driven by the strong financial performance of its manufacturing, petrochemical, pharmaceutical and infrastructure sectors. Higher corporate profitability across these industries resulted in larger mandatory CSR contributions under the provisions of the Companies Act, leading to a substantial increase in social development spending.
The report highlights that 4,425 companies implemented CSR programmes across all 30 districts of Gujarat during FY25, reflecting the state’s expanding role in India’s corporate social responsibility landscape. Among the biggest beneficiaries of CSR funding were Ahmedabad, Jamnagar, Vadodara, Surat and Gandhinagar, which received significant investments across sectors including education, healthcare, skill development, sanitation and environmental sustainability.
Speaking at the report’s launch in Vadodara, Parthesh Vyas, Co-Chief Executive Officer of Fulcrum, described Gujarat as the standout performer in the country’s CSR ecosystem. He noted that while CSR spending across India increased by 17%, Gujarat registered an impressive 68% growth, far surpassing every other state. However, he also observed that CSR investments remain concentrated in a limited number of industrialised states, indicating the need for a more balanced geographical distribution of corporate funding.
The report further revealed that Corporate India’s total CSR spending reached a record ₹40,794 crore in FY25, taking cumulative CSR investments over the past decade to more than ₹2.61 lakh crore. During the year, over 29,500 companies implemented 72,233 CSR projects across the country, reflecting continued expansion in corporate-led social development initiatives.
Commenting on the broader trend, Arun Mathai Marette, Co-Chief Executive Officer of Fulcrum, said CSR spending in India has grown by more than 300% over the past decade, substantially outpacing the country’s economic growth. He noted that while India’s GDP has expanded at an average annual rate of around 7%, CSR expenditure has consistently grown at nearly 15%, underlining the increasing commitment of businesses towards sustainable and inclusive development.
Sector-wise, education remained the largest recipient of CSR funding, attracting ₹13,877 crore, representing 34% of total CSR expenditure. Healthcare followed with ₹8,531 crore, accounting for 21% of total spending. Meanwhile, investments in environmental sustainability rose by 40% to ₹3,397 crore, reflecting growing corporate emphasis on climate action and environmental conservation.
The report also found that 98% of CSR funds were utilised directly for community development projects, while only 2% were transferred to government funds, highlighting the increasing focus on implementing on-ground programmes with measurable social impact.
Among the leading contributors to Gujarat’s CSR growth were Reliance Industries, Reliance Jio Infocomm, ArcelorMittal Nippon Steel India, Adani Power and HDFC Bank, whose investments supported a wide range of development initiatives across the state.
The findings reinforce Gujarat’s position as one of India’s leading destinations for corporate-led social development while underscoring the growing role of CSR in driving inclusive growth, community welfare and sustainable nation-building.
Disclaimer: This report has been editorially prepared using publicly available information and data from the Bharat CSR Performance Report 2026 released by Fulcrum. Readers are advised to refer to the original report for detailed state-wise analysis.
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