Revealing Indian Philanthropy

Over the last two decades, as India embarked on its path of economic liberalization, we have seen a growing abundance of wealth as new industrial houses and families have benefited from this liberalization. However, the benefits have not been equally felt and a large part of India is still lacking the basic amenities and infrastructure that people in developed societies take for granted. The new breed of wealthy realizes that, if they are to continue to succeed, they must ensure that basic amenities and infrastructure are available to all. The government in India, given its fiscal and budgetary issues, has also realized that it alone cannot fund all the basic amenities and has mandated corporations over a certain net worth to spend 2 per cent of their last three years’ average profits on corporate social responsibility (CSR). With an increasingly vocal middle class and under intense media scrutiny, expectations surrounding CSR and greater transparency in how non-governmental organizations spend money are also very high.

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