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videos | IST

The Heart of Business: Experts decode achievements and challenges of philanthropy in India

The International Labour Organisation said recently that about 400 million people working in the informal economy in India were at risk of falling deeper into poverty due to the COVID-19 induced economic crisis.

India is one of the fastest-growing economies in the world and is home to over 100 billionaires and several multi-national companies. But ironically, about 28 percent of Indians are still struggling to make ends meet.
The International Labour Organisation said recently that about 400 million people working in the informal economy in India were at risk of falling deeper into poverty due to the COVID-19 induced economic crisis.
According to the global hunger index 2019, India ranked 102 among 117 countries in terms of the rising number of hungry people. To address these challenges, in 2009, a group of compassionate people came together to start an initiative called "Daan Utsav" or the "Joy of Giving Week."
This week-long event is organised every year from October 2 to October 8, across more than 200 towns. Over 2,000 corporates and NGOs celebrate this festival of giving by donating their time, money, material, and skills to a cause of their choice. This has encouraged many Indians towards philanthropy and the numbers are the proof.
According to the India Philanthropy Report, philanthropic funding has grown from Rs 12,500 crore in 2010 to Rs 55,000 crore in 2018. Similarly, the number of individual contributors has increased from 26 percent in 2010 to 60 percent in 2020.
As we celebrate the 2020 edition of Daan Utsav, to discuss the achievements so far and the aspirations, CNBC-TV18's Shereen Bhan spoke to Pramod Bhasin, chairman of Clix Capital & co-founder of Asha Impact; Luis Miranda, chairman of Manipal Cigna & chairman of Indian School of Public Policy; Ganesh Natarajan, chairman of 5F World & Pune City Connect and Nirmala Peters Mehendale, founder of Kindness Unlimited & president of World Kindness Movement.