Can CSR Help Address Farmer Suicides? An Indian Case Study

It is estimated that around 16,000 Indian farmers commit suicide every year. In a world of sustainable development and progress, it remains a black spot for one of the largest economies of the world. Agriculture contributes to 15% of the country’s GDP (PRS, 2020) and is the backbone of the country’s food security. 85% of India’s 96 million farmers are considered small and marginal (LTFS, 2020) and formed a majority of those who took their own lives every year. Farmer suicides in India have attracted attention from policymakers, researchers and the government not just for the sheer tragedy of the events but also their implication for India’s growth and development. While the economy has shown remarkable resilience since the 2008 financial crisis and is staging a recovery in the post pandemic world, there is no evidence that a lot of farmers has improved on the ground. India, through the Companies Act 2013, has been one of the few countries in the world which mandated companies to spend 2% of their average profit on community development projects. Several corporate houses make claims about the impact of their CSR. Based on a report published by a leading Indian financing company, this paper explores if and how CSR helps address farmer suicides. It concludes that mandatory CSR can do little to bring in long term positive change in the lives of Indian farmers.