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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.
Here's what else you need to know about philanthropy in India: Read the Entire Article
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Private Philanthropic Giving in India to Reach 1.86 Lakh Cr in...
