India's next big leap needs bold hearts: Why intentional philanthropy is the missing piece

India’s development story is well known: a rapidly growing economy, a thriving startup ecosystem, vibrant diaspora, and an expanding pool of private wealth. But a less visible story is unfolding alongside it—one that philanthropists in India and globally should pay close attention to.

While India has made progress in government spending on social issues, formalising and institutionalising giving, especially through corporate social responsibility (CSR), we are far from matching the scale of philanthropic capital to the scale of social challenges our society faces.

The opportunity—and responsibility—before wealth creators is therefore clear: to expand and strategically elevate philanthropy so it becomes a more effective driving force behind India’s inclusive growth. That will require deeper & longer commitments, new models of collaboration, more innovative investments, and a serious investment in philanthropic infrastructure.

CSR has laid a foundation—but individual giving must rise

For all the criticism at its advent, India’s CSR regulation is beginning to have a serious impact on the social sector. Annual contributions now approach close to ₹30,000 crore (approximately USD 3.6 billion), and we are beginning to see early signs of shifts from purely compliance-driven approaches to more strategic, to more outcome-oriented giving, and the building of institutions.

This has professionalised a segment of funding and brought a level of predictability and scale that NGOs and those desirous of building institutions can rely on. But CSR is not personal giving—even though many see the giving by their companies as an extension of their personal philanthropy.  CSR is a government mandate, perhaps a substitute to tax levy that encourages corporates and senior professions to participate in social change. Therefore, the rise in CSR must not cloud the data on individual giving and to drive long-term change, we truly need India’s wealthy individuals step up with their own capital.

India’s ultra-wealthy are under-participating

India is now home to more than 1,500 individuals with a net worth exceeding ₹1,000 crore. But less than 1 in 6 these individual gives even ₹5 crore ($600,000) annually to social causes, and that’s when we give them proportionate credit in this amount for CSR done by companies they control! While there are notable exceptions, when compared to global norms—where many wealthy individuals commit 1–2.5% of their wealth each year—giving by India’s wealthy, as a group, remains rather modest.

What this tells us is not that philanthropists lack intent, but that our giving culture is still evolving. The ecosystem around large-scale philanthropy—advisory support, family office alignment, issue-focused collaboratives—is still maturing. Clearly the opportunity to make a serious impact exists, as does the capital - the moment calls for inspiring leadership in this group, to set the norm.

The wealth creation of the past decade presents an historic opportunity for India’s ultra-high-net-worth community to help solve its most pressing problems. If even a small fraction of this capital is mobilized more strategically, the impact would be profound.

Globally, we’ve seen this pattern: individual philanthropy becomes a powerful force when wealth-holders see giving not as charity, but as a core responsibility tied to legacy and purpose of solving problems. This shift is just beginning to take shape in India—but it must accelerate.

Retail giving holds promise, but needs support

In contrast, the much broader Indian public has shown an extraordinary capacity for generosity—especially in moments of crisis. During the COVID-19 pandemic, various crowd funding \ online platforms saw a surge in small donations from individuals across the country. This reflected both trust and intent in the ordinary Indian to do whatever they could to alleviate suffering.

However, data suggests that, in normal times, less than 10% of individual \ retail giving reaches organizations that are focused on problem solving. The vast majority goes to religious institutions or informal giving (such as begging). To increase the social impact of this goodwill, we need better infrastructure: platforms that make giving simple, transparent, and informed by data; and organizations to communicate their work to the public in a language they understand, while inspiring trust.

Innovations like India’s Social Stock Exchange, set up recently by the Government of India, may offer part of the solution. If successful, they could integrate giving into everyday financial behaviour—enabling donors to support verified social organizations as seamlessly and at a low cost as they manage their investments.

A new generation of philanthropists is emerging

Encouragingly, a new cohort of bold & intentional philanthropists is emerging in recent years.  They are reimagining what giving can look like in India.  They are to be found especially amongst startup founders, professionals, and occasionally in Next Gen of corporate India. These donors are typically younger, more systems-oriented / strategic, willing to make bold bets, and collaborate including with governments.

Their approach reflects a broader global trend: philanthropy that focuses on catalytic interventions, ecosystem building, and longer-term impact. As mentioned earlier, many are also engaging earlier in their wealth journeys—an encouraging signal that giving can become embedded in identity, not deferred until later.

For global philanthropists looking to partner in India, this cohort presents a valuable opportunity: co-investing with peers who understand local systems and are open to collaboration, innovation, and evidence-based approaches.

On the demand side capacity building is a critical next step

If we want to absorb significantly more philanthropic capital in India, we must invest in the demand side of the equation: non-profit capacity, leadership, and organizational expertise.  For example, India has world-class social entrepreneurs, but the sector is constrained by limited access to professional fundraising talent. In the U.S., philanthropy is supported by a trained workforce of more than 140,000 fundraisers. India has only a miniscule fraction of that.

We need to develop a cadre of professionals who can steward long-term donor relationships, communicate impact credibly, and help philanthropists navigate where and how to give. Without this, capital may remain on the sidelines—not due to lack of will, but lack of clarity.

A call to action

Philanthropy in India stands at a strategic inflection point. Our philanthropists have the never before opportunity to be intentional & bold and make an inedible mark on the country’s development.  The country has blessed them with incredible wealth over the past decade.  Templates are emerging for how they can use a very small fraction of it to drive immense change.  We finally have the opportunity to truly help build the India we want to see.  We must not let it pass.

Views are personal. Amit Chandra is Co-founder, A.T.E. Chandra Foundation and Chairperson, Bain Capital India Office. Anu Prasad is Founder & CEO, India Leaders for Social Sector (ILSS).