NEW DELHI (India CSR): On 2nd November 2023, in Mumbai, a significant event unfolded in the philanthropic world of India. EdelGive and Hurun India released the 10th annual EdelGive Hurun India Philanthropy List 2023, a comprehensive ranking of the most generous individuals in the country. This endeavor aims to shed light on the remarkable givers of India and emphasize the increasing role of individual philanthropists in nation-building. This article delves into the intricacies of this report, its implications, and the patterns it reveals in philanthropic giving.
The Genesis and Purpose of the Report
A Decade of Philanthropic Tracking
The EdelGive Hurun India Philanthropy List 2023 marks a decade of tracking and celebrating generosity in India. It follows the Hurun India Rich List, which lists the wealthiest individuals in the country. EdelGive Foundation and Hurun India have partnered to create this report from a data and evidence perspective.
The aim is to understand the trends in philanthropy, the sectors benefiting from it, and the geographical distribution of these charitable acts.
The Criteria and Significance
The list features individuals who have donated INR 5 crore or more from 1 April 2022 to 31 March 2023. These donations were measured in terms of cash or cash equivalents. The report is crucial in highlighting the strength of India’s social sector and identifying areas that require further attention and resources.
Patterns and Trends in Philanthropic Giving
Record-Breaking Generosity
The year 2023 has been a record-breaking one for philanthropy in India. There has been a significant surge in the number of high-value donations. Individuals contributing over INR 100 crore have increased from 2 to 14 in the past five years. Similarly, those donating over INR 50 crore have risen from 5 to 24.
The Growth of Personal Philanthropy
Personal philanthropy in India is on the rise. Cumulative personal donations have seen a 60% increase, reaching INR 4,958 crore. These donations constitute 70% of the total donations listed. Family philanthropy is also evolving, shifting from providing essentials to focusing on newer and marginalized areas.
Focus on Sustainability
There is a growing momentum towards supporting sustainability causes. Donations towards Environment & Sustainability have increased by 31%, reaching INR 143 crore compared to the previous year. This trend indicates a shift in focus and an acknowledgment of the urgent need to address environmental issues.
The Impact and Future of Philanthropy in India
Building a Legacy
Philanthropy plays a vital role in building a legacy and passing on wealth. As wealth in India continues to expand, the importance of acknowledging and ensuring that philanthropic efforts reach every stratum of society becomes even more crucial.
The Role of CSR
Corporate Social Responsibility (CSR) initiatives are expected to play a pivotal role in India’s journey towards meeting the Sustainable Development Goals (SDG) by 2030 and attaining net zero emissions by 2070. The EdelGive Hurun India Philanthropy List underscores the significance of these initiatives in the broader philanthropic landscape.
Conclusion
The EdelGive Hurun India Philanthropy List 2023 is a testament to India’s growing culture of giving. It serves as a record of the country’s philanthropic endeavors and reflects a positive transformation in society. Through this report, the aim is to document, analyze, and encourage philanthropic giving, ensuring that the impact of these efforts is felt across the nation.
Important Facts: A Summary
| Parameter | Detail |
|---|---|
| Report Release Date | 2 November 2023 |
| Partners | EdelGive and Hurun India |
| Number of Years Tracked | 10 |
| Donation Criteria | INR 5 crore or more |
| Time Period for Donations | 1 April 2022 to 31 March 2023 |
| Focus Area | Philanthropy in India |
| Record-Breaking Year | 2023 (Surge in high-value donations) |
| Increase in Personal Donations | 60% (Total of INR 4,958 crore) |
| Focus on Sustainability | Donations increased by 31% (Total of INR 143 crore) |
| Role of CSR | Crucial for meeting SDGs by 2030 and net zero by 2070 |
This table encapsulates the key facts and figures associated with the EdelGive Hurun India Philanthropy List 2023, providing a quick reference guide to the report’s most important aspects.
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