Give2Asia released a new report that looks at the challenges and trends of diaspora donors giving to India. Here are some of the highlights from the report, Enabling Indian Diaspora Philanthropy:
* Nearly 2.7 million people of Indian origin reside in the US, making it the third largest Asian American population.
* Over $2.3 billion was received by some 12,400 non- governmental organizations in India from overseas sources in 2008-09, an increase of nearly 12% over the previous year. Of this, nearly $740 million came from the United States alone, making it the single largest contributor. Diaspora remittances to India are the highest in the world at an estimated $49.3 billion in 2009.
* The Indian government has also recognized the financial and intellectual power of its diaspora, and has been actively seeking to encourage its business and philanthropic investments.
* There are challenges to giving to India though. They include: (1) lack of information about good organizations; (2) lack of trust in intermediaries and grantees; (3) India has a complicated legal process for non-profits wishing to accept foreign funds; and (4) and many of the funds to India are concentrated in certain parts of the country.
* Give2Asia has seen some recent trends in private giving: (1) public-private partnerships in India are increasing, an example is the creation of the Public Health Foundation of India; (2) donors are focusing on localized high-impact philanthropy; (3) donors are not only giving annually but they are making endowment gifts; and (4) social investments are on the rise.
To read the full report, you can download it here.