Technology industry titans were the most generous Indians, according to the Hurun India Philanthropy List 2015, with Wipro chairman Azim Premji topping the chart followed by Infosys founders Nandan Nilekani and N R Narayana Murthy.
The Hurun India Philanthropy List listed Premji as the “Most Generous Indian” for the third year running for donating Rs 27,514 crore as charity. Nandan Nilekani and Rohini Nilekani followed with a contribution of Rs 2,404 crore. Murthy came in third with a donation of Rs 1,322 crore. While Premji’s philanthropy was focused on the education sector, Nilekani looked at urban governance and Murthy on social development.
The Hurun Research Institute measured the donations by the value of their cash or cash equivalent from November 1, 2014, to October 31, 2015. The new entrant into the top five at the number four spot is Infosys founder K Dinesh, with a total contribution of Rs 1,238 crore.
Hurun Research picked 36 individuals, down from 50 last year, with 12 new entrants and 26 names dropping off the list. Education remained the most favoured philanthropic cause, accounting for 84% of donations. The average donation increased from Rs 300 crore last year to Rs 900 crore this year, mainly on the back of Premji’s donation. With 10 individuals, Mumbai is home to most of the Hurun philanthropists, followed by Bengaluru and New Delhi.
The total contribution of the top three in the Hurun India Philanthropy List 2015 shot up by 53% (Rs 16,491 crore) more than previous year. The philanthropists made their money mainly from the tech sector, also one of the biggest wealth creators on the Hurun India Rich List. With six individuals, Infosys had the highest number of philanthropists on the list.
“Despite weak corporate earnings in 2015 compared to last year, the increasing speed of wealth creation seems to promise a bright future for Indian philanthropy,” said Anas Rahman Junaid, business head, Hurun Report India.