Philanthropy in India | Milaap

Philanthropy in India

“Is the rich world aware of how four billion of the six billion live? If we were aware, we would want to help out; we’d want to get involved.” – Bill Gates

India, a country with record number of billionaires on one side and on the other side, a home for over 400 million people below the poverty line (less than $1.25/day),  one-third of the world’s malnourished and stunted children, with nearly 50 percent of children under 5 considered “stunted due to chronic under nutrition”, a situation our Ex-Prime Minister Singh called a national shame shows the lack of governmental ability  to provide essential services such as primary school education and basic healthcare to a large swath of the population as a whole.6This is why there is an increasing need of Indian philanthropists to step out and give back to society by bridging these gaps by contributing to these social services. India’s philanthropic donations though has  increased in the last few years with the young HNI’s (High Net-worth individuals’) under the age of 40 contributing significantly to the rise beside corporate and family philanthropists. There is also an increase in the number of private organizations working toward philanthropy. Recently, Bangalore billionaire contingent attended by top Indian billionaires along with Bill Gates to discuss on the philanthropy suggests the increasing realization among the wealthier ones regarding the role philanthropy and social reforms play for the development of society. Crowdfunding India using Milaap4Still,  the level of philanthropy in India is not proportional to the accumulation of wealth in the country the total figure of philanthropic donations in India still amounts to just 0.6 percent of GDP. While this may surpass other BRICS economies, these efforts are insufficient given the scale of current challenges. It may take decades to reach the current level of giving in developed economies (2.2 percent of GDP in the United States), but if the goal is to decrease chronic poverty, then government incentives for giving must change.5Besides it, most philanthropic activity in India reflects the infancy of the field as it is more focussed on fund development and not on the effective end utilization of those funds, which shows the need for some policy rationalization, particularly inclining more towards “Catalytic philanthropy- innovative practices that have the potential to catalyse social impact at scales that far eclipse a number of financial resources invested.”  Catalytic philanthropic practices can only be undertaken with the help of ground-level organizations working in the field of social reforms.  Bain and Company’s Indian philanthropic report 2012 has focussed on the need for more NGO’s and social enterprises working on education reforms for the development of Indian human resource and henceforth, the economy. Not only education, the need is to focus on sanitation, energy reforms to achieve India’s target of being economic superpower by 2020.milaap logoMilaap has contributed significantly to these social causes by focussing on education, sustainable energy development, improved water supply and sanitation conditions and has transformed lives of thousands of rural poor across India and is continuously increasing its outreach across whole of India with its significant presence in major Indian states (Karnataka, Rajasthan, Maharashtra, West Bengal, Orissa, Bihar and Tamil Nadu) to support the maximum rural poor in the country.