As per Section 135 of the Companies Act 2013
Vision is one of the most empowering senses of human body that not only enables a person to work to his or her fullest potential but is absolutely crucial to living a normal life.
Out of the world population of more than 7 Billion, nearly 2.5 Billion people suffer from uncorrected refractive errors. It is also found that correction of this error would lead to increase in productivity of working men and women by 34% and workers' income by 20%. World Health Organization estimated that India loses about USD 37 Billion annually because of uncorrected refractive errors.
In fact, 80 per cent of all visual impairment can be avoided or cured. India being a largely populated country certainly requires attention in this regard. About 495 million Indians require vision correction.
GKB Hi-tech envisages bridging this gap through CSR contributions.
- Creating Awareness on eye care;
- Support in getting access to eye care services for the rural population;
- Support in getting affordable Spectacles to the needy;
- Address the needs of people requiring correction of refractive errors;
- Reach over the children, workmen, elderly people and drivers requiring vision correction;
- Promoting education, training and up-skilling the ophthalmic fraternity;
- Create an effective, cost effective and scalable model for addressing eye health including Diabetic Retinopathy in slum population;
- To improve the eye health awareness among the urban slum population; and
- To strengthen the availability of eye care services for the low income group, reducing the occurrence of blindness.
In the Board Meeting of GKB Hi-tech Lenses Private Limited held on 27th May 2014 a CSR Committee was formed comprising of following members:
1. Mr. Shobit Gupta - Member
2. Mr. Neeraj Gupta - Member
3. Mr. Rakesh Suryanarayan - Member
Responsibilities of CSR committee:
- To formulate and recommend a CSR policy to the Board;
- To take all required actions for realizing the objectives detailed under the CSR policy;
- To recommend amount of expenditure to be incurred on CSR activities;
- To monitor the execution of CSR policy of the company;
- To meet either physically or using telephone/video conferencing facility at least once in every six months and review the progress in implementing the CSR activities and take appropriate actions for moving forward.
The funds to be allocated for CSR activities shall not be less than 2 percent of average net profits of last three financial years of the Company.
The Company's engagement in this domain will be disseminated on its annual reports.