India’s Wealthiest Can Triple Philanthropic Contributions to Rs 75,500 Crore Annually: AIP-BCG Report

A report by Accelerate Indian Philanthropy and Boston Consulting Group suggests that India's ultra-high-net-worth individuals can significantly enhance their philanthropic contributions. The study reveals a potential increase to Rs 75,500 crore annually, driven by strategic and sustainable impact focusing on systemic change and collaboration among philanthropists.

India's ultra-high-net-worth individuals (UHNIs) could potentially boost their philanthropic impact, raising their contributions to Rs 75,500 crore annually, according to a report by Accelerate Indian Philanthropy (AIP) and Boston Consulting Group (BCG). The report, titled 'Wealth with Purpose: A Report on Private Indian Philanthropy', engaged over 100 UHNIs, illustrating a transformative shift in Indian philanthropy motivated by a desire for strategic and sustainable impact.

The study indicates that 90 percent of surveyed UHNIs are keen to increase their philanthropic efforts. Should they allocate just 5 percent of their incremental wealth, annual contributions could more than triple to Rs 75,000 crore. This untapped potential could drive substantial social change in India.

This transition in Indian philanthropy from traditional donations to strategic impact is primarily driven by young, first-generation wealth creators. These emerging philanthropists are focusing on long-term solutions and innovative models for scalable impact, underlined by the TIE model which categorizes philanthropic engagement into Treasure, Involvement, and Evangelization.

(With inputs from agencies.)