Just 'Charity', not 'Social Change' for Rich Indians

A report by INSEAD has given a border picture of the ability of giving by HNIs of India. India experienced the fastest growth of wealthy individuals in the world and today it is known to have more than 50 billionaires. But donations in India constitute only 0.6 percent of the country's GDP. About 40 business groups in India, 70 percent of them are family run businesses and such groups practice Corporate Social Responsibility which perceives to be a family philanthropy. It is also noted that Indian Philanthropists have always relied on personal foundations rather than giving directly to NGOs, institutions or beneficiaries. No credible people to lead impactful projects have been one of the major drawbacks for not donating NGOs and other social welfare institutions. Going forward, the shift however will be more towards to "solving social problems" than "giving back" and considering a broader set of critical social issues for funding will be . It is also required that the NGO sector gears up to professionalization and building capacity, the survey says