Although India has a centuries-old tradition of philanthropy by way of charitable donations, organised philanthropy at scale is fairly recent. In the few decades before and post-independence, large-scale philanthropy was mainly undertaken by a few business houses as a way to contribute to nation-building. Think the likes of Tata, Birla, and Bajaj.
Where philanthropy stands today
This is no longer the case. Economic growth has contributed to a rising middle class and people becoming wealthier at younger ages. Consequently, many more families, professionals and self-employed are looking to “give back” with their wealth and time. Regulations around corporate social responsibility
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
