In Goa where self-sufficiency is based on the logistic networks of Karnataka and Maharashtra, the firms need to invest in the social capital of Goa to bridge the gap between infrastructural deficit and the mandatory need for CSR expenditure of large firms operating in Goa.
Multi National Enterprises (MNEs) companies operate in Goa with unabated financial resources which puts them in a position to amass huge profits from their business operations while exploiting the infrastructural facilities in the form of road networks, proximity to State borders, sea port connectivity, airport connectivity and 24-hour electricity supply in the industrial zones.
Beyond the stipulated corporate taxes and the requisite compliance with the corporate laws, there exists no compelling reason for businesses to contribute towards the enhancement of infrastructural facilities that would benefit Goans.
An example that represents a glaring exploitation of natural resources from large scale business operations is the mining of iron ore from the hills of South Goa. The demographic studies would only reveal that the regional economy prospered by virtue of trickle down effects that the mining promoted in the State. The large scale debt in the transport industry is a phenomenon that was motivated by the overvaluation of the revenue projections generated by transporting ore to the ports.
But thinking back about whether these sporadic business operations ever perceived a long-term plan of attaining sustainability for the communities that depended on the mining operations, the answer would be a big NO.
Primarily because the CSR represents a new paradigm where the State is considered the autonomous sovereign institution delegated with the planning and execution of infrastructural projects that are required for the welfare of its subjects.
The reasoning behind relying on the State as an intuitive organism which has its finger on the pulse of necessary infrastructure development in Goa needs rethinking. Goa represents a conglomerate of diverse business interests that are all tied by the common thread of tourism and deeply rooted in the conservation of the environment as its most precious resource. And this is where businesses can play the role of environmental stewardship which Chapin et. al. (2010) defines as the responsible use and protection of the natural environment through conservation and sustainable practices to enhance ecosystem resilience and human well-being.
Firms and business entities in Goa are highly cognizant of the resources that they exploit to arrive at the final product of their endeavours. Therein lies the exploitation of infrastructure around the immediate environment that remains a significant expense upon sustainability of the resources that Goa possesses. Despite the limitations upon defining activities that constitute CSR investments that Schedule VII of the Companies Act, 2013 dictates, Goa through its various functionaries can drive the impetus in the direction of bettering the infrastructure facilities in the State through strategic investments in the realm of CSR expenditure that would have an impact on normalising the equanimity between the citizens living in the State in an sustainable manner.
