Private sector philanthropy in India is projected to have touched Rs 1.43 lakh crore in FY25. Led by ultra-high and high net-worth families, private giving is expected to grow at 9%-11% in the next few years. Though families contribute approximately 42% of overall private philanthropy (through a combination of personal giving from UHNI, HNI, and affluent households, and CSR activities by family-owned/run businesses), a 9%-10% growth per annum in private giving is rather tepid for a country like which is continuously seeing more and more individuals making it to the billionaire list.    

The recent edition of the Dasra-Bain & Company India Philanthropy Report brings to the fore newer trends in private philanthropy capital. The upcoming category of private givers is actually not from within the country but the diaspora - The diaspora population has expanded to roughly 34 million with remittances growing at 14% CAGR between FY21-25. Diaspora giving also scaled rapidly. For example, Indian- American philanthropy increased from $1–$2 billion in 2018 to $4–$5 billion in 2024. Further, diaspora philanthropy is evolving beyond check-book giving, shifting toward trust-based models that combine financial contributions with time, expertise and networks.

“Earlier diaspora engagements were focused on specific states, but as they are being exposed to the context within India, they are expanding their focus,” explains Ami Misra, associate director, Dasra. A few years ago, bulk of the diaspora engagements were focused on specific states, primarily Maharashtra and Gujarat (which are also states which receive maximum CSR expenditure) but today 53% of diaspora support pan-India causes.

Unlike earlier when the diaspora’s role was more around fund-raising through galas and hosting meetings for non-profits, diaspora giving today is increasingly becoming more systematic. “We have also seen the emergence of platforms such as Indiaspora, where they hold a global conference and they bring the diaspora together. We also have various multi-stakeholder convenings that take place like the London Climate Week, the Skoll World Forum, where the Indian diaspora is actively engaging in setting the narrative on philanthropy.”

Indian NGOs have also started setting up their base in markets outside of India. “Pratham, a premier education NGO for instance, has a US base where a lot of the diaspora members have helped it scale by talking about Pratham at galas, helping its secure funds and actually ensuring that it has the infrastructure to be able to service many more Indians. When diaspora capital plays a role there is also a sense of internationalism which comes with it. They don’t just lend themselves to resources or capital but lend themselves as board members and advisors and people who can help NGOs dream bigger and better,” she further explains.

The Action Shifts

Until recently the bulk of philanthropy capital came from the US. However, the last few years has seen Asian countries such as Singapore, UAE, Hong Kong and Korea emerging as critical enablers of philanthropy. As global aid declines, Asia is gaining prominence as a centre for philanthropic action. The report talks about these countries demonstrating how concentrated wealth, institutional readiness and ecosystem coordination can catalyse impact.

As India is going to grow in terms of number of billionaires, as cumulative CSR spends grow, there is a very good opportunity for India to draw some lessons from these global hubs and become a conversation shaper in the context of philanthropy, says Misra. Sustained investment in philanthropic infrastructure could unlock Rs 1.25-1.35 crore ($14–$15 billion) of philanthropic capital by FY30—and advance India’s Viksit Bharat initiative.

One of the barriers for Indian private philanthropy is lack of an advisory ecosystem in the Indian context, says Misra. “In our report we have written about how important it is to talk about philanthropy when you are talking about wealth stewardship or succession planning in the context of your inter-generational wealth transfer.”

More Women Givers

While the likes of Rohini Nilekani or Sudha Murthy are the poster women of Indian philanthropy, the India Philanthropy Report also talks about the emergence of more women givers. Women are playing a critical role as decision makers within family units. They are shaping the narrative by taking up niche and underfunded causes like animal welfare, climate, women’s skilling and so on,” Misra points out.

Demand Outpaces Supply

India’s social sector funding, according to the Dasra-Bain Capital report, is scaling quickly but continues to lag estimated demand. Total funding grew at a 13% CAGR between FY20-25 to around Rs 27 lakh crore ($310 billion) and is projected to reach Rs 50 lakh crore ($570 billion) by FY30.

Public spending is at the heart of this expansion, accounting for about 95% of total funding and continuing to rise across healthcare and education in line with national policy priorities. Even with this momentum, demand outpaces supply. Based on NITI Aayog norms, the funding gap stood close to Rs 16 lakh crore ($180 billion) in FY25 and may widen to INR 18 lakh crore ($210 billion) by FY30. Private philanthropy, projected to reach Rs 1.43 lakh crore ($16 billion) in FY25 with a 9% to 11% projected CAGR between FY25-30, can’t close this gap without faster expansion. Sustained growth above 25% would prevent the funding deficit from widening further, says the report.   

“India is witnessing unprecedented wealth creation and rapid institutionalisation through family offices and formal structures. The opportunity now is to embed philanthropy within these evolving frameworks so that giving becomes an integral part of stewardship rather than an afterthought. When philanthropy is aligned with succession planning, governance mechanisms, and professional management, it can move beyond episodic contributions toward sustained, multi-generational impact. The next chapter of Indian philanthropy will be shaped not just by generosity, but by institutional depth and strategic intent.” says Bhavini Malhotra, partner, Bain & Company.