Around 13 celebrated names from the Garden City — ranging from Wipro’s Azim Premji to Infosys co-founder Nandan Nilekani, wife Rohini Nilekani, and Zerodha duo Nithin and Nikhil Kamath — have been listed among the country’s top philanthropists, as per the EdelGive Hurun India Philanthropy List 2023.
Topping the list, HCL Technologies founder-chairman Shiv Nadar retained the title of ‘India’s most generous’, with an average donation of Rs 5.6 crore per day or Rs 2,042 crore for the financial year 2022-23. In terms of year-on-year increase in donations, Nadar stood second to fellow IT pioneer Premji, who bagged the second spot with an annual donation of Rs 1,774 crore.
“This year is a record year for big philanthropy. In the past five years, the number of donors contributing over Rs 100 crore has surged from 2 to 14, and those donating over Rs 50 crore has risen from 5 to 24,” Anas Rahman Junaid, managing director and chief researcher of Hurun India, said, adding that he anticipates the figures to double over the next five years.
Mumbai has the highest number of philanthropists, followed by New Delhi, and then Bengaluru, as per the Hurun report.
Author Rohini Nilekani once again emerged as the most generous woman philanthropist with Rs 170 crore in contribution, while Zerodha co-founder Nikhil Kamath stood as the youngest on the list. The Kamath brothers collectively donated Rs 110 crore during the period under review.
Overall, the 2023 list featured 119 philanthropists who cumulatively donated Rs 8,445 crore, 59% higher compared to last year. This list saw 25 new entrants, led by Infosys co-founder K Dinesh with a donation of Rs 47 crore.
India’s richest man, Mukesh Ambani, with his family, donated Rs 376 crore during the year, securing the third position on the list.
Donations by those in personal capacity however saw a slight dip, with 24 individuals donating Rs 5 crore or more, as opposed to 26 last year. Personal capacity donations exclude corporate social responsibility and similar initiatives.
Education remained the most favoured philanthropic cause, followed by healthcare. Remarkably, donations towards environment and sustainability surged by 31 per cent year-on-year touching Rs 143 crore in 2023.
“The advantage of having younger philanthropists join the movement is that they come with a broader perspective, they look to invest in non-traditional areas,” said EdelGive Foundation Chief Executive Naghma Mulla.
The tenth annual ranking of India’s most generous individuals tracked philanthropic donations of Rs 5 crore or more between April 1, 2022 and March 31, 2023. The methodology included corporate social responsibility spending of these millionaires, proportionate to their ownership in respective companies.
Mulla however pointed out that 70 per cent of the overall donations came in personal capacities.