Private philanthropy in India is expected to grow at a compound annual rate of 11% over the next five years, according to a new report from Bain Company and Dasra, the philanthropic arm of India's Times of India.
The country has some of the highest per-capita wealth in the world, and the report finds that India's wealthy are giving more than they did five years ago$1.2 billion in 2017 to be exactbut that's not enough to meet the country's needs.
"The weight of social sector commitments is being carried largely by the government," says Jishnu Batabyal, a partner at Bain.
"Therefore, the imperative is on private philanthropy to realize its full potential and bridge the funding gap in India."
The country's government spends 95% of its annual social sector spending on things like education and health, but funding is expected to rise only slowly over the next few years.
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