India is experiencing an unprecedented period of wealth creation as a result of rapid economic growth. It is fast catching up with the US and China in creating wealth, and now ranks third in global billionaire rankings. Many of these newly minted billionaires are self-made, including several who are alumni of elite universities and institutes.
All this wealth, how much giving? Philanthropy in India has evolved in recent decades.
Cumulative donations have grown almost sixfold in five years.
From just under Rs 2,500 crore to more than Rs 14,750 crore, according to research published by Hurun India.
Education is now the most favoured cause, receiving Rs 9,659 crore.
But note that charitable giving in the US reached $485 billion in 2021 according to the 'Giving USA 2022' report.
So, US charitable giving is roughly 263 times the dollar value of the total raised in India.
But US GDP is only 7.2 times Indian GDP, as per World Bank statistics.
Americans are therefore 36 times as generous as Indians when it comes to philanthropy.
And this is despite just 4.4 times the number of billionaires, as per latest Forbes 2022 ranking.
Plus, in India, Azim Premji alone constitutes twothird of the total philanthropy.
Denne historien er fra September 19, 2022-utgaven av The Times of India Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 19, 2022-utgaven av The Times of India Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Tollywood was happy hunting turf for conman
Kept Database Of Mobile Nos. Of Film Celebs
State-funded Metro to chug into RGIA in 3 yrs
Residents’ Plea To KTR To Extend Other Rail Lines
Rajiv Makhni becomes the face of smart tech luggage with proximity indicator
The VIP SmarTech series, a range of smart travel gear, keeps you connected with your luggage via your smartphone
I want to reach out to Samantha and tell her that if I can make it, so can you, says Vikram Bhatt
The filmmaker opens up about his 18-year-long battle with fibromyalgia, a chronic disorder that causes widespread muscle pain
Rain ruins second ODI
The match was reduced to 29-overs-a-side as the first interruption caused a four-hour break. India were 22 for no loss in the fifth over at that time.
Croatia come in hard, show Canada the exit
After their dour opening draw with Morocco had instigated a post-mortem into whether this Croatia side lacked a killer instinct, Kramaric and Marko Livaja found the net before the break to take the wind out of Canada’s sails.
Denmark calls on Euro 2020, Eriksen experience
Denmark has been here before.
Ronaldo targets KO berth
Win Vs Uruguay Will Help Portugal Advance With A Game To Spare
Govt doubles large aircraft wet lease period to 1 yr
Accordingly, IndiGo can now wet lease two twin aisles to operate flights between Delhi/Mumbai and Istanbul for a year.
Deuba's party emerges as single largest party in poll
Elections to the House of Representatives and seven provincial assemblies were held on November 20.
