Indian Philanthropy Lags Behind Accumulation of Wealth

The Nonprofit Quarterly | @npquarterly | Indian Philanthropy Lags Behind Accumulation of Wealth: While many of us think that the U.S. is very nonprofit-rich, India has a staggering 3.3 million NGOs with 700 new ones opening each day. It has 450 million people who are living in poverty and also has 57 billionaires, according to Forbes, as well as a rapidly increasing group of millionaires. According to Bain and Company, India’s 20 wealthiest individuals have doubled their combined wealth, but this super rich class is only giving between 1.5% and 3% of their yearly income, paling in comparison to the 9 percent donated each year in the U.S. “