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Philanthropic Causes in India

    Philanthropic Causes

    In India, family philanthropy is not new, and it is still deeply ingrained in the country’s culture and traditions. Through family businesses and entrepreneurial contributions to the Swadeshi movement, which advocates for national independence and the use of locally produced goods, many prominent Indian families have contributed to India’s independence movement and growth. The “Made in India” movement of the 1900s gave birth to a slew of well-known Indian-family-owned businesses. These families continue to create economic opportunities, invest in philanthropic initiatives, and chart a critical path for India’s success.

    Philanthropy has many facets and is influenced by a variety of factors. Individuals or families who self-identify as givers are the primary source of philanthropic capital in this space. They give either directly or through “family foundations” that they set up. They are also more likely to be personally involved and deeply engaged in the operations of their foundations, as well as to integrate their values into their work.

    To maximize the potential contribution of philanthropy to society, we must first understand the implicit risks and potential pitfalls of our charitable impulses and actions. What exactly are these perils and dangers? Philanthropists, for example, may have an implicit assumption that their success in business entitles them to judge and make decisions in almost any other field. This is an incorrect assumption, but it does not appear to be out of the ordinary.

    A philanthropist must decide whether their donation is entirely voluntary or compelled by moral obligation. If it is purely voluntary, the philanthropist is free to choose whatever suits their needs and interests. At a smaller scale of giving, the purely voluntary stance appears to be appropriate as well. On the other hand, philanthropy is viewed as a moral imperative, accountability is introduced, and the philanthropist is held accountable to society.

    In India, philanthropy is on the rise. In the fiscal year 2020, private-sector funding totaled approximately INR 64,000 crore, nearly 23% more than in the fiscal year 2019. (Rs 52,000 crore)

    Foreign, corporate, retail, and high-net-worth individuals (HNIs) or families are the four main sources of private-sector funding. Foreign contributions account for one-quarter of total funding. Domestic corporate donations, also known as Corporate Social Responsibility (CSR) funding, make up 28% of total funding. Another 28% comes from retail investors (donations of INR 5 crore each). The rest (roughly 20%) comes from family philanthropy.

    Many donors have used foundations to professionalize and institutionalize their personal philanthropic causes over the years. Large sums of money, on the other hand, come with their own set of risks, whether financial, social, or personal. As the number of wealthy Indians grows, so does the need for a framework for assessing risks and identifying opportunities.


    Here’s a list of major philanthropic causes that one might donate to.

    Major philanthropic causes list

    1. Save the Children: Save the Children has been a lifeline for families fleeing violence in Syria, Venezuela, Myanmar, and dozens of other crises around the world as the world leader in protecting children from the physical and emotional wounds of war. Furthermore, as Yemen’s largest aid organization, they helped 1.7 million children as well as 88 health facilities and 23 hospitals last year.

    2. CARE: For the past 70 years, CARE has worked in India to alleviate poverty and social injustice. This is accomplished through well-planned and comprehensive programmes in health, education, and livelihoods, as well as disaster preparedness and response. Our overarching goal is to empower women and girls from low-income and marginalized communities, resulting in better lives and livelihoods. CARE India works with community groups, government agencies, and professional organizations to ensure that the most vulnerable people can affect and sustain equitable change.

    3. Indian Red Cross Society: The Indian Red Cross is a non-profit humanitarian organization with over 1100 branches throughout India that provides disaster/emergency relief as well as promotes health and care for vulnerable people and communities. It is one of the founding members of the International Red Cross and Red Crescent Movement, the world’s largest independent humanitarian organization. The International Committee of the Red Cross (ICRC), National Societies, and the International Federation of Red Cross and Red Crescent Societies are the movement’s three main components.


    Top 3 philanthropists in India

    1. Azim Premji: Premji, the founder and chairman of Wipro Ltd., is widely regarded as “India’s most generous man.” Premji has one of the largest endowments in Asia and one of the top five in the world. He topped the EdelGive Hurun India Philanthropy List 2020 list of philanthropists in India in 2020, with donations totalling Rs. 7904 crores. This amounts to approximately Rs. 22 crores per day.

    2. Shiv Nadar and family: Nadar, the tech czar and founder of HCL Technologies was ranked second in the EdelGive Hurun India Philanthropy List 2020’s 7th edition of the list of philanthropists in India, with donations totalling Rs. 795 crores. In the sixth edition, he topped the list.

    3. Mukesh Ambani and family: Mukesh Ambani, the Chairman, Managing Director, and largest shareholder of Reliance Industries Limited (RIL), is widely regarded as India’s wealthiest individual. With donations totalling Rs. 458 crores, Ambani is ranked third on the EdelGive Hurun India Philanthropy List 2020’s 7th edition list of philanthropists in India.


    Conclusion

    Online donations can be an effective way to drive fundraising results for your philanthropic causes if you use the right tools and strategies. Online giving can help you mobilize your supporters to make a difference for a worthy cause while diversifying your revenue streams. It doesn’t have to be difficult to collect online donations. Ketto is an Indian crowdfunding platform that allows people from all over the country to raise funds for a wide range of causes, from medical care to disaster relief. Crowdfunding can be used by individuals, businesses, and non-governmental organizations (NGOs) to achieve personal goals, pay medical bills, make a film, or support their favorite local sports team or gymkhana.


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