Posted On: 2022-01-14 12:28:33
Giving back to the community will always be a part of Indian culture. The values and the teachings that we inherited from our great social leaders such as Mahatma Gandhi, Mother Teresa, Indians have always acknowledged contributing some part of their earnings towards the interest of society, as per their capacity. The tycoons of India are not any different. Indian businessmen, in addition to getting engaged in the decision making of CSR policies and allocation of funds towards it, also perform philanthropic endeavours on a personal level.
Philanthropy involves generous giving to excellent causes on a large scale, but it is much more than just a charitable donation. Philanthropy is an effort an individual or organization undertakes based on an altruistic desire to improve human welfare, and wealthy individuals sometimes establish private foundations to facilitate their philanthropic efforts.
These philanthropists have made significant contributions by donating their wealth, time and energy for social development in the country.
With the work that they do for the betterment of our society, let us look at the top 5 philanthropists of India.
Azim Premji
Azim Premji, 75-year-old has the notable distinction of being listed not once but twice among the 100 most influential people by TIME magazine. The founder-chairman of Wipro Ltd. is known as ‘India’s most generous man. Premji’s endowments are the largest in Asia and among the top five in the world. Despite being a tech capitalist and business tycoon with immense wealth, Azim Premji lives a simple and subtle life. In 2020, he pinnacled the list of philanthropists in India by the EdelGive Hurun India Philanthropy List 2020 with donations worth Rs. 7904 crores. This accounts for about Rs. 22 Crores per day. A firm devotee of Mahatma Gandhi’s principles of trusteeship, Premji has dedicated his entire wealth towards philanthropy.
"I strongly believe that those of us, who are privileged to have wealth, should contribute significantly to try and create a better world for the millions who are far less privileged."
Kumar Mangalam Birla
Chairman of the Indian multinational Aditya Birla Group, Kumar Mangalam Birla is also a strong practitioner of the trusteeship concept of Mahatma Gandhi. Under his leadership, in 2020, the Aditya Birla Group was placed as among the Forbes World’s Best Employers 2020. Kumar Mangalam Birla and Family ranked fourth in the 7th edition of the list of philanthropists in India by the EdelGive Hurun India Philanthropy List 2020 with donations worth Rs. 276 crores. Mr. Birla is deeply engaged with educational institutions. His philanthropic energies are mainly concentrated around education-related causes. His proceeds are through Aditya Birla Foundation which is involved in various education-related initiatives. With his directive, the Group is involved in influential welfare driven actions that distinctively impact the quality of life of weaker sections of society.
“Well, I think the golden rule I can think of is the fact that you must follow your passion and do something that’s close to your heart. And I think that that’s very important, well, to be successful and to be happy.”
Ratan Tata
Ratan Tata, there would hardly be anyone in India, who is not familiar with this name. This Tata Group ex-chairman is a global level businessman and a supporter of education, medicine and rural development. More than 65% of his and his company's earnings is invested in charitable trusts. Tata Education and Development Trust, a philanthropic affiliate of theTata Group, granted Rs. 2075.68 million Tata Scholarship Fund. In 2010, Tata Group companies and Tata charities donated Rs. 3706.57 million for the construction of an executive centre at Harvard Business School. In 2014, the Tata Group gave Rs. 950 million to IIT, Bombay, the largest donation received in its history and formed the Tata Center for Technology and Design to develop design and engineering principles suited to the needs of people and communities with limited resources. He has contributed to many academic institutions so that a proper academic environment can be provided to all the students. Tata group had pledged Rs. 1,500cr in support of the fight against COVID-19. He believes that ups and downs in one's life are essential for the person to move forward and understand the importance of life. 11.7 million lives were positively impacted by the donation of Rs. 1095 crore on CSR in the year 2019.
“Ups and downs in life are very important to keep us going because a straight line, even in an ECG. means we are not alive.”
Shiv Nadar
The 75-year-old Founder and Chief Strategy Officer at HCL Technologies and Founder & Chairman of Shiv Nadar Foundation, Shiv Nadar, is the third richest Indian as of Forbes list of India’s 10 Richest Billionaires 2021. He ranked second in the 7th edition of the list of philanthropists in India by the EdelGive Hurun India Philanthropy List 2020 with donations worth Rs. 795 crores. He topped the list in the 6th edition. He contributes about 40% of his time and wealth to social ventures. The Foundation is dedicated to the invent a more equitable, merit-based society by empowering individuals through transformational education to bridge the socio-economic divide. He has been greatly influenced by the philanthropic commitment made by Bill Gates and Warren Buffett, the world’s richest people, both of whom have pledged their entire wealth for charity. Carrying the inspiration from them and adding his flavour, Nadar has decided to introduce his unique philanthropic model. Shiv Nadar believes that Philanthropy is not only about writing cheques for causes. He believes that confirming that the resources are used well for the objectives that it was designated is what forms true philanthropy.
“Education is and will be the most powerful tool for individual and social change, and we must do all that it takes to facilitate it.”
Mukesh Ambani
The richest man of India, Mukesh Ambani, Chairman, MD and largest shareholder of Reliance Industries Limited(RIL). Ambani ranks third in the list of the 7th edition of the list of philanthropists in India by the EdelGive Hurun India Philanthropy List 2020 with donations worth Rs. 437 crores. Reliance Industries produced over 1000 MT of medical-grade liquid oxygen per day or 11% of India’s total production and supplied over 55,000 MT of medical-grade liquid oxygen across the country free of cost. Mukesh Ambani has guided his philanthropic initiatives by funding in sectors like education, social, rural development, disaster management and healthcare through Reliance Foundation.
"I think that our fundamental belief is that for us growth is a way of life and we have to grow at all times."
Philanthropists give because there is a Giving Tradition around them. This giving tradition is often connected to their family. Many of us feel we have a giving tradition we follow and try to instil in our successors. Giving Tradition is a current and recurring phenomenon. It used to be a personal phenomenon. Anyone can practice philanthropy by making monetary donations to a cause you believe in. Giving back to society will make the community strong and will definitely create a positive impact, especially in the lives of those who need it the most.
Author : Lubdha Dhanopia
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