MUMBAI: Indian philanthropists donated a total of Rs 8,783 crore in FY24, just 4% higher than the Rs 8,445 crore given in FY23 and a 55% jump from Rs 5,623 crore in FY22, according to the EdelGive-Hurun India Philanthropy List 2024.
Shiv Nadar retained the ‘India’s Most Generous’ title for 2024, donating Rs 2,153 crore to philanthropic causes. Nadar’s donations account for nearly a quarter of the money donated by 203 businessperson in Hurun’s list. Other notable givers include Mukesh Ambani (Rs 407 crore) and Rohini Nilekani (Rs 154 crore).
Krishna Chivukula, with a Rs 228 crore donation to IIT Madras, is the most generous new entrant. Chivukula has promoted Indo MIM in Bengaluru to produce small metal and ceramic components with complex geometries in high volumes. Most aircraft carry metals produced by Chivukula’s company.
Emerging philanthropists include Zerodha’s Nithin and Nikhil Kamath, who together gave Rs 120 crore, and Susmita and Subroto Bagchi with Rs 179 crore, securing a spot in the top 10.
Nadar’s donations amount to almost 6 crore per day
Shiv Nadar’s donations amounted to almost Rs 6 crore a day. He has committed nearly $1 billion to philanthropy, largely in education, a key focus for six of the top 10 donors.
According to Hurun, Indian philanthropists giving over Rs 100 crore in annual donations have increased from two in 2018 to 18 in 2024.
Nandan Nilekani topped the list for the biggest increase in donation, contributing an additional Rs 118 crore this year. Harish Shah and the family of Signet Excipients made a significant jump in rankings, climbing 53 spots to 22nd, with an annual donation of Rs 78 crore.
“The top 10 list represents a balanced spectrum of Indian philanthropy: we see first-generation entrepreneurs like Shiv Nadar and Adani alongside established family businesses such as Ambani, Bajaj and Birla, continuing their legacy of giving. Additionally, entrepreneurs such like Nandan Nilekani and Subroto Bagchi, who, after building successful businesses, are now deeply committed to philanthropy, are featured,” said Anas Rahman Junaid, founder and chief researcher, Hurun.
To compile the list, Hurun Report undertakes a process of surveying successful entrepreneurs, cross-referencing the findings with media reports, and consulting charitable foundations. They analyse CSR data from the Ministry of Corporate Affairs and calculate donations based on individuals’ shares in companies.