CSR Policy


  • Finestar is deeply passionate about giving back to society by uplifting the community. The end goal of each of our initiatives is to create social impact and to change lives.
  • As a responsible corporate citizen of the country, Finestar understands it has a role to play in sustainable and inclusive growth of the nation and considers this role as an important responsibility. Despite being one of the largest growing economies globally, India faces substantial problems of income inequality, food insecurity, gender discrimination and environmental degradation along with uneven access to energy, healthcare, sanitation, water and education.
  • We are committed to further environmental sustainability, socio-economic empowerment of underprivileged communities, social development and equity through gender empowerment. Our CSR policy framework is developed to assist the Company in undertaking well-planned initiatives that are participatory, outcome oriented and measurable, with the overall objective of creating sustainable impact.

AREAS OF FOCUS

  • Finestar has identified certain areas of focus for its CSR Projects/ programs in India based on its involvement with the community and their social issues.
  • Our Primary areas of concern are Education & Women Empowerment. Promoting education- both primary & secondary, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects. Finestar’s new Icchapore factory [Gujarat, India] will have a division dedicated to Diamond Industry Education & Training with courses on Manufacturing, Marketing & IT. Scholarships will be given and the students will be absorbed by Finestar Diamonds.
  • Education can act as a stepping stone for women's empowerment in India. We have ongoing initiatives such as education of the girl child, skills training & employment opportunities within our organization to reduce the gender divide.
  • At our Factories at Botswana & Namibia, we are making a conscious effort to hire, train and transfer skill sets to the local communities, especially women, to encourage the development of these countries as well.

Other areas of Focus include:

Healthcare & Sanitation

  • Poverty, hunger and malnutrition remain the biggest challenges globally and in India. Finestar Diamonds is involved in food programs that provides meals to children in remote rural areas. We are also working towards promoting health care including preventive health care and sanitation and making safe drinking water available to all.

Environmental Sustainability

  • As a step towards ensuring environmental sustainability, Finestar’s new Icchapore factory [Gujarat,India] will have a 1 MW solar plant capacity, covering all available roof space, a Rainwater Harvesting System and Electric Charging Stations to encourage the use of Electric Vehicles [EVs].

Others

  • From time to time, the Finestar Diamonds identifies Focus Areas depending on the need of the hour, in so far as such activities are as defined in Schedule VII of the Companies Act, 2013, as amended, from time to time. For instance, Relief Efforts during COVID-19 involved distribution of freshly cooked meals on a daily basis for the Daily Wage Workers and Migrant Labours who were left jobless overnight due to the Nationwide Lockdown imposed in India in March 2020.

Ongoing CSR Project as approved by the Board

  • Santok Tara Jain Charitable Trust have initiated the construction of an educational institution for the skill development in the field of gems and Jewelery industry for promoting education, including special education and employment enhancing vocation skills.
  • Education & Training shall be provided in the following fields
    • 1) Rough Diamond grading and planning
    • 2) Diamond manufacturing process
    • 3) Polish Diamond Grading

  • Timeline to complete the project: 3 years.
    • Fee & Cost – Santok Tara Jain Charitable Trust shall provide education free of cost to anyone.
    • Course Duration – 6 months to 1 year depending upon course type.
    • Eligibility – Anyone from any section of the society, male / females everyone would be eligible.

  • Accreditation – Santok Tara Jain Charitable Trust have registered the institute with the central Government by filing the Form CSR-1 with the Registrar of Companies. Further, the institute has been registered under 12AA and 80G of the Income Tax Act 1961. Gem and Jewelery Export promotion council and Gems and Jewelery skill development council of India (GJSCI). Finestar shall tie up with the reputed diamond laboratories such as GIA, IGI, and HRD for diamond grading training and shall hire competent faculty and also arrange for visiting faculties for providing training, education and skill development to the students.


CSR COMMITTEE COMPOSTION

The CSR Committee of the Board of Directors comprises the following Members:
SR.NO Name of Members Designation
1 Vinod Kumar Jain Chairman
2 Ashok Kumar Bora Member
3 Kapil Jain Member

The Board shall reconstitute the CSR Committee as and when required inter alia, to comply with the provisions of the Companies Act, 2013 and applicable statutory requirements.

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