Twenty years into promoting the welfare of the lesser developed sections of society through their philanthropic initiative — the Shiv Nadar Foundation (SNF) — founder and chairman of HCL and SNF Shiv Nadar feels that Indian industrialists need to do more for this cause while Roshni Nadar Malhotra, trustee of the foundation, says that the project is very young and needs to build on the existing initiatives. In an interview with FE’s Kirtika Suneja, the father-daughter duo share their plans for the foundation going ahead and the kind of impact they want to create. Excerpts:
What is SNF doing differently compared with the philanthropic ventures of other companies?
Shiv Nadar: I firmly believe that philanthropy is most effective and outcome-oriented when you ensure that your pledge actually gets spent. Disclosures further help build an environment of trust and transparency. Good governance is therefore not an added bonus; it is at the heart of what makes philanthropy successful. In its journey of two decades, we have operated on our core values of transparency and robust governance systems.
Roshni Nadar Malhotra: Our strong conviction in creating institutions that become citadels of leadership development has led the foundation to adopt the creative philanthropic approach. In the last 20 years of its journey, the foundation has directly impacted 15,000 students and has created 2,000 first generation learners. We believe that these students would become true role models of the country inspiring not just their families and communities but the society at large. We are committing R3,000 crore for the next five years towards all new foundations and expansion of existing activities.
The foundation is already supporting the cause related to education and arts. Will it diversify into other disciplines?
Shiv Nadar: Today the foundation has achieved significant size and scale and we believe that it is time to formalise our internal systems and processes, to enhance both beneficiary and stakeholders’ impact. There will be no diversification in the next 20 years.
Roshni Nadar Malhotra: SSN is the only institution to have reached some maturity as we started the other initiatives after 2009. So all the other initiatives are in