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Business News/ Companies / News/  Shiv Nadar most generous Indian, Azim Premji at No. 2
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Shiv Nadar most generous Indian, Azim Premji at No. 2

While Nadar’s donations to philanthropic causes totalled ₹1,161 cr, or ₹3 cr a day, Premji clocked ₹484 cr

A file photo of Shiv Nadar. Photo: MintPremium
A file photo of Shiv Nadar. Photo: Mint

MUMBAI:Shiv Nadar, the founder of HCL Technologies, has reclaimed the title of India’s most generous philanthropist, while Wipro’s Azim Premji slipped to the second spot, according to the latest EdelGive Hurun India Philanthropy List released on Thursday. While Nadar’s donations to philanthropic causes totalled 1,161 crore, or 3 crore a day, Premji clocked 484 crore.

Asia’s richest man, Gautam Adani, came in seventh with a donation of 190 crore, while Mukesh Ambani took the third spot with 411 crore donations.

The number of individuals donating more than 100 crore in a year has grown to 15, from just two in 2017-18. The number of individuals who have donated over 50 crore has grown four-fold, from five to 20, the research by Hurun India and EdelGive Foundation showed.

“Considering the wealth creation potential of India and assuming that the billionaires keep up with philanthropy, I expect these numbers to at least double over the next five years," said Anas Rahman Junaid, MD and chief researcher, Hurun India.

Donations were measured by the value of their cash or cash equivalents from 1 April 2021 to 31 March 2022. The list, now in its ninth year, featured 108 individuals who have donated 5 crore or more during the period under review. Premji is the only living Indian to feature in Edelgive Hurun philanthropists of the century. His philanthropic contribution dropped sharply, by 95%, this year, because of his exceptional contribution of 7,807 crore last year to his two philanthropic trusts. Education remains the most favoured philanthropic cause, followed by health care. Among the other favoured causes, environment & sustainability saw a growth of 46% in donations and skill development witnessed a 103% change over the last year.

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Meanwhile, philanthropic contributions have fallen in 2021-22 due to the huge base effect of pandemic spending and Premji’s exceptional contribution in the preceding year. Combined donations of all individuals listed by the report have declined to 5,666 crore in 2021-22 from 11,984 crore in 2019-20 and 14,755 crore in 2020-21. However, it has doubled since the 2017-18 list.

Among the top 10 philanthropists, five saw a decline in their donations from last year, including Nadar and Premji.

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ABOUT THE AUTHOR
Niti Kiran
Niti Kiran is a Senior Assistant Editor at Mint with over 10 years of experience in corporate and market research. She has an eye for detail and enjoys digging deep into data to cull interesting trends. Data research is Niti's forte and constantly fascinates her.
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Published: 21 Oct 2022, 12:15 AM IST
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