Give & Tech – The Younger Philanthropies in India

– Prakash.P, Assistant Professor, SIMS.

India’s richest persons have donated less than 1% from their wealth, but the so called younger donors with technological entrepreneurs in India gave a lead, are making thought provoking social investments & trying to build the eco system in a well-balanced way. In India the economic situation/status among citizens becomes bit critical as the rich becomes richer & the poor becomes even worse. But the modern techie philanthropies, wanted to give back something to the society, as the country did a lot to them. The bottom-line is, CSR becoming a trend among youth entrepreneurs that’s highly a welcome note. By seeing the modern youth entrepreneurs, so many people got inspired & as a result, the country is getting the essential monetary supply to the needy one.

The notable donors to our Indian country are, Mr.Abhiraj Singh Bhal, co-founder of Urban company, Mr.Nithin & Mr.Nikhil Kamath, Co-founders of Zerodha & Flipkart co-founder Mr. Binny Bansal who are emerging from technical industry. Among the above, Mr.Nikil Kamath, 35, the co-founder of Zerodha stock brokerage company, has promised to give a one fourth of his wealth, which comes around Rs.750 crore. He planned to give this rs.750 crores, in four years along with his brother Mr.Nithin, Zerodha Co-founder & the CEO. Mr.Kamath told,”We are here to give for the so called effect, change”. Mr.Kamath insists each & every billionaires need to donate something to the society so that the country would respect more the product/service what they produce.

We might be knowing the fact that, the Indian billionaires are becoming super rich than earlier, even then many are not ready to involve in the CSR activity. According to the Indian philanthropy report (IPR) 2022 released recently, the economic disparity becomes more widen between the richest & the opposite. Ms.Neera Nundy, co-founder of Dasra says, the less donor amount indicates, there is a big gap & definitely there is a lot more potential which means there is a potential to receive more from the billionaires. Like Mr.Kamath & Mr.Nithin, the young philanthropies should learn how to collaborate with society so that the country will be grateful to the youngsters. Mr.Kamath insists for government support says, without incentives, the philanthropic contributions have to be accelerated by the innate motivation. To conclude, the government should ensure the philanthropy amount they receives from potential youngsters, should be spent on right way & with correct direction. By doing so, our future India would be free from unemployment.