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“India, home to 4 per cent of the world’s billionaires, and with approximately 400 million people living below the poverty line, has both the need and the resources for private philanthropic actors to make a dramatic contribution to its socio-economic development.

Two decades of economic liberalisation, which has pulled the country into middle income status and opened the doors to growing domestic inequality, have resulted in more pressure on both national politics and domestic sources of redistribution.

Questions are now emerging around what can spur Indian high-net-worth-individuals (HNWIs) to spend less on their own lavish lifestyles and more on social development.”

Read more: www.thehindubusinessline.com/opinion/philanthropy-in-its-infancy-in-india/article4214008.ece.

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