Philanthropy in India 2010 lists personal gifts made by individuals or through their corporation. Recent major donors include many corporate leaders and a majority of them gave to education causes. Here’s a brief overview:
1. Anand Mahindra, Vice-Chairman and Managing Director of Mahindra and Mahindra. Anad gave (Rs. 44 crore) USD 10 million to Harvard’s Humanities Centre for the University’s humanities program. The funds will be used to promote interdisciplinary exchanges through scholarships, panel discussions, conferences and workshops at Harvard.
2. Ajay Piramal, Chairman of Piramal Healthcare. The firm will spend Rs. 200 for socio-economic development. This is the largest gift from a pharmaceutical corporation in India.
3. Azim Premji, Chairman of Wipro Technologies. Azim Premji transferred about 8.6% stake of his shares (Rs. 8846 or USD 2 billion) to a private trust – Azim Premji Trustee Co Pvt Ltd. The trust will use the fund to take up educational initiatives presently being carried out under the aegis of the Azim Premji Foundation. The money will also be spent on setting up the Azim Premji University in Bangalore.
4. Kalpana Morparia, CEO of JP Morgan India. Ms Kalpana Morparia personally donated Rs 1.5 crore to the Bharti Foundation after a field trip to see their work.
5. Naveen Jindal, Member of Parliament and EVC & MD of Jindal Steel and Power Ltd. Naveen Jindal donated the accumulation of five years salary (Rs. 40 lakh) and an additional Rs. 10 lakh for students to buy notebooks for classes. The students are in his district and it is a small step to make Haryana the number one state in terms of education in India.
6. Ratan Tata, Group Chairman of Tata Group. Ratan Tata donated $50 million (Rs. 220 crores) to Harvard Business School from two philanthropic entities of Tata Group. The funds will be used to build a new academic and residential building.
7. Shiv Nadar, Founder and Chairman of HCL Technologies. Sold 2.5% stake in the company and donated the proceeds (Rs. 580 crores) to Shiv Nadar Foundation. Shiv now spends 40% of his time on social ventures. He has established several education institutions, including a proposed Shiv Nadar University and a museum of art named after his wife.
8. Vineet Nayyar, Managing Director of Tech Mahindra. Donated a third of his shares (Rs. 30 crores) in the companies to a Essel Social Welfare Foundation, a Delhi-based charitable organization run by his wife. The Foundation supports education of underprivileged children, including the visually handicapped.
9. Vineet Nayar, CEO & Vice Chairman of HCL Technologies. Vineet sold a million shares of HCL Technologies worth Rs. 43 crore to raise money for SAMPARK, a non-profit he started in 2004 to support various educational projects in India.
Photo courtesy of businesstoday.intoday.in