60 percent of HNI Donors are Below 30 Years in India

Bangalore: The annual India Philanthropy Report 2012 from Bain & Company, stated that more than a third of HNIs (High Net-worth Individuals), who turned to philanthropy and charity in 2011, were below 30.

According to the report, 76 percent of the Gen-Y members of wealthy Indian families are “particularly interested in increasing their philanthropic involvement”. Moreover 70 percent of philanthropic organizations are headed by next-gens, who are mostly self-made entrepreneurs, senior executives in multinational and India firms.

The survey was done upon 400 HNIs in four cities, Mumbai, Delhi, Pune and Hydrabad, with assets over $1.1 million. This report noticeably suggests that “young Indian philanthropists are playing a key – and outspoken – role in the family’s charitable activities”, as quoted by campdenfb.com.

“India must consider the voice of the youth in its efforts to cultivate giving. We are encouraged by the emergence of the next generation of donors, who are even more committed to supporting this charitable culture as their wealth grows”, said Arpan Sheth, author of the report and partner of Bain & Company, Mumbai, as quoted by TOI.