Philanthropy in India is growing: Fact or fiction

India has no shortage of billionaires. We added 17 new ones in 2017 alone, taking the count up to 101. During the same year, the wealth of this elite group increased by Rs. 20,91,300 crore an amount equal to total budget of Central Government in 2017-18.f There is another list that tracks how the rich have fared in India year after year—the Hurun India Rich List which looks at people with a wealth of over Rs. 1,000 crore. In 2018, 831 individuals made it to this list (1)—a 35% increase from last year and a jump of 100% since 2016. The average wealth on the 2018 list was around Rs. 5,900 crores. When it came to philanthropy though, only 38 men and one woman made it to their annual Hurun Indian Philanthropy List 2018 (2), which looks at Indians who have donated Rs. 10 crore or more in a 12-month period. “The amount donated by Mr Ambani equals 0.1% of his wealth.” Mukesh Ambani who topped the India Rich List with a net worth of Rs. 3,71,000 crore was ranked number one on the Philanthropy List as well, having donated Rs. 437 crore towards education, healthcare, and rural development; the amount donated equals 0.1% of his wealth.