The spirit of giving

Rich Indians still don't give as much as they can — what would it take to light the philanthropic fire in our modern-day Scrooges?

- SHUTAPA PAUL

is the season of giving — festivals are a time for celebration and also helping the less fortunate. No better time than now to spread some cheer and a reality check! India has been adding to its billionaire cohort. We rank third in the world boasting 185 billion billionaires; the US tops the list with 835 and China has 427 billionaires as per UBS' recent Billionaire Ambitions Report. Our most minted moolah-makers have increased by 21 per cent as against the previous year and 123 per cent since 2015. And while we are ruled by cash-rich dreams and governed by a hustle culture, surrounded by unicorns and decacorns, with monetary worth of thousands of crores, India ranks despondently low when it comes to giving.

As per the Charities Aid Foundation's World Giving Index 2019, India ranked 82nd among 128 countries; the lowest in South Asia. India's position marginally improved to 48 as per the World Giving Index 2024. (FYI, the most charitable country in the world is Indonesia). I have long believed that while at the individual level, Indians can be charitable, as a community, we aren't really an altruistic lot. The surveys note that religious donations instead of structured cause-related ones form a thrust of the generosity in Indians. Frankly, gods don't need any more capital, but people do. And at some level, the stinginess is understandable.