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IT czars Shiv Nadar and Azim Premji topped the philanthropy list with a donation of ₹1,161 crore and ₹484 crore last fiscal even as the cumulative donations by the top-10 givers plunged to ₹3,378 crore against the ₹12,785 crore logged last year.
Mukesh Ambani and Kumar Mangalam Birla followed with donations of ₹411 crore and ₹242 crore, according to the EdelGive Hurun India Philanthropy List 2022. However, India’s richest business man, Gautam Adani, who gave away ₹190 crore, was ranked seven in the pegging order.
AM Naik of L&T was the only professional to enter the top-10 with a donation of ₹142 crore. The overall donation by the movers and shakers of India Inc plunged to ₹5,666 crore against the ₹14,755 crore registered last fiscal and ₹11,984 crore logged in FY21.
Contributions fell last fiscal due to the huge base effect of pandemic spending and an exceptional contribution of ₹7,807 crore last year by Azim Premji to his two philanthropic trusts. The 19 new entrants cumulatively donated ₹832 crore, with payment of ₹213 crore each by Midtree promoters Susmita-Subroto Bagchi and Radha-NS Parthasarathy of Mindtree featuring among the top-10 donors.
Interestingly, the number of individuals who had donated over ₹5 crore increased marginally to 108 last fiscal from 105 recorded in previous fiscal, while the size of IIFL Hurun Rich List jumped 10 per cent to 1,103 against 1,007.
This is despite the cut-off to enter the Hurun Rich List is ₹1,000 crore and the same for philanthropy is kept at ₹5 crore to widen the reach. Interestingly, the list includes the CSR spend to the promoters proportionate to their holding. In the long-run, Hurun India plans to focus only on private philanthropy.
While Nadar and Premji topped the personal philanthrophy list with donation of ₹1,043 crore and ₹344 crore, Ambani and Birla failed to make it to the top-10. Rohini Nilekani contributed ₹120 crore in her personal capacity.
Anas Rahman Junaid, Managing Director, Hurun India, said cumulative personal donations grew 50 per cent to ₹3,097 crore, and this constitutes 55 per cent of donations in the list.
Considering wealth creation potential of India and assuming that the billionaires keep up with philanthropy, the number of donors to at least double over the next five years, he added.
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