India’s changemakers

When billionaire businessman Azim Premji set a new global-scale gold standard in philanthropy last week, he was also, in effect, nudging India Inc to alter its perspectives — setting aside funds and working in tandem with the country’s social sector innovators. After forking out a total of $21 billion for his Azim Premji Foundation, Premji has catapulted into the very top ranks of global philanthropists with only Bill Gates and Warren Buffett ahead of him. He’s even overtaken billionaire financier George Soros who has bestowed $18 billion on a range of his favourite charitable causes. Premji has focused mainly on the education sector by setting up schools and field institutes to aid government schools in half a dozen States and has also spent heavily on establishing the Azim Premji University on Bengaluru’s outskirts. But Premji does not represent the trend in India Inc. For decades, Indian businessmen have been looked upon as famously stingy, only focusing their charitable efforts in areas of religion and temple-building.

The latest India Philanthropy Report by consulting firm Bain notes that barring a few exceptions, individual philanthropists are contributing two-to-three times below their giving-ability. The Bain report found that CSR budget outlays of domestic corporations and corporate charitable trusts contributions grew by 12 per cent annually between FY2014 and FY2018 while annual funding by individual philanthropists climbed by 21 per cent. The Tatas and the Godrej group have been carrying out good work for decades. A newer entrant into the large-scale giving game is the Shiv Nadar Foundation set up by the HCL Chairman. The Nadar foundation has also been focussing mainly on education. However, the Indian corporate sector is only just waking up when it comes to serious philanthropy. The government hoped to ease this tightfistedness when in 2014 India became a trailblazer with an amendment to the Companies Act, making Corporate Social Responsibility (CSR) mandatory. Since then, many companies have taken up the cudgel, albeit some more reluctantly than others. It’s now reckoned Indian corporations have spent over ₹50,000 crore on their CSR obligations with a large chunk going into education, healthcare and sanitation. It’s clearly time now for individuals and companies to step up to the plate.

That said, there is a new vibrancy in the social entrepeneurship space. The BusinessLine’s Changemaker awards, also held last week, marked a modest attempt to recognise such social entrepreneurs, who have achieved against immense odds. This year’s winners have brought about a lasting shift in areas such as gay rights, women’s empowerment through education, sports, the rights of sanitation workers and education of tribals in Naxal-dominated areas. Institutional achievements such the creation of the e-NAM network and the GST Council have also been rewarded. A synergy between socially inclined achievers is what this country needs. Subalterns are breaking out of their mould to carve out a life on their terms. Corporate India needs to tune in here.

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