There has been a rise in the number of young philanthropists in India, with particular growth seen in 2022, the CSR Journal in India reports. The country expects this rise in young giving to continue.
New startups and social enterprises established in the last two years are expected to boom, resulting in the increase of rich young individuals that will further contribute to the trend.
Nithin and Nikhil Kamath – the brothers that founded the online stock trading platform Zerodha – have taken the Young India Philanthropic Pledge, pledging a quarter of their wealth to philanthropy, alongside some of their peers.
Younger donors are more inclined to work on inequality, race, gender, disability, economic status, and climate than older philanthropists, signalling that a focus on what receives funding could be on the horizon.
The CSR Journal also expects that there will be a growth in personal philanthropy, as income will stabilise – and increase in many cases – after the last two years.