The report by Accelerate India Philanthropy and Boston Consulting Group highlights the motivations, enablers and challenges for philanthropic giving by ultra-high-net-worth individuals in the country
A small step from the rich can be a giant leap of support to social causes in India.
A new report says that even modest increases of about five percent in annual philanthropic allocations by ultra-high-net-worth individuals (UHNIs) can unlock an estimated Rs 75,000 crore of contributions to the social sector, which is approximately three times the current private philanthropic giving, and five times the total amount spent by India Inc through their corporate social responsibility (CSR) contributions in FY23.