Shiv Nadar top philanthropist in India, Premji replaces Mukesh Ambani at second spot
Mukesh Ambani, Asia's richest man is the third most philanthropic individual in India. One place lower than last year, according to the Edelgive Hurun India Philanthropy List 2019. Ambani was replaced by Azim Premji of Wipro in the second spot.
According to the report, Shiv Nadar from HCL is the most philanthropic private individual. Anas Rahman Junaid, Managing Director and Chief Researcher of Hurun Report India said, "The cut-off rate to reach top 100 in the philanthropic list has increased by 130 per cent." The total contribution of all the individuals in the top 100 list is around Rs.4, 300 crore, a 90 per cent increase from last year.
Most philanthropic spending is focused in the areas of education and health. Vidya Shah, CEO of Edelgive foundation said," There are two barriers that corporates usually face while CSR spending, the first is they don't know where to give their money and second is in terms of measurability." While speaking to BusinessLine, she added that a lot of important causes don't receive funding because of the lack of measurability.
© Renalysis Consultants Pvt Ltd