Azim Premji is top Indian philanthropist with Rs8,000 cr donation in 2013
14 November 2013
IT tycoon Azim Hashim Premji, the chairman of Wipro Ltd, has emerged as the most generous Indian with a donation of Rs8,000 crore in the past year, according to the Hurun India Philanthropy List 2013.
China-based Hurun Report Inc launched the inaugural Hurun India Philanthropy List 2013 close on the heels of releasing the second edition of Hurun India Rich List.
HCL group chairman Shiv Nadar takes the second spot in the list with a donation of Rs3,000 crore, the report said.
Hurun India Philanthropy List ranks 31 Indians who donated over Rs10 crore, or around $1.6 million, in cash or cash equivalent between 1 April 2012 and 31 March 2013.
Donations by individuals who hold significant share in contributing companies are accounted on the basis of the percentage share of the company by the individual.
Education, which garnered Rs12,200 crore, ranked as the most important area for the Indian philanthropists, to be followed by social development (Rs1,210 crore), healthcare (Rs1,065 crore), rural development (Rs565 crore), environmental cause (Rs170 crore) and agriculture (Rs40 crore).
According to Hurun Report chairman and chief researcher Rupert Hoogewerf, the list demonstrated the responsibility taken by entrepreneurs.
The Shiv Nadar Foundation, which completed 20 years in philanthropy this year, is known for its educational initiatives, which directly benefit 15,000 students across India.
G M Rao, with a donation of Rs740 crore, through GMR Varalakshmi, emerged as the third biggest philanthropist in India's corporate world.
Nandan and Rohini Nilekani who came in fourth in the list contributed Rs530 crore.
Ronnie Screwvala, through Swadesh Foundation, contributed Rs470 crore towards rural empowerment through the best practices and modern technology values.
Kiran Mazumdar Shaw, chairperson and managing director of leading biotech firm Biocon, donated Rs330 crore, while Tata Sons chairman emeritus Ratan Tata donated Rs310 crore to various charitable organisations for the underprivileged through the JRD Tata Trust and Sir Ratan Tata Trust.
London-based mining major Vedanta Resources chairman Anil Agarwal donated Rs290 crore towards healthcare.
Contributions from PNC Menon of Sobha Developers and DLF chairman Kushal Pal Singh stood at Rs270 crore and Rs200 crore, respectively for various programmes, including adoption of villages and skills training of the youth.
The average age of the philanthropists in the list was 62 years while that of the top 10 donors was 64 years.
The Companies Bill, 2013 mandates companies, with net worth in excess of Rs500 crore or revenue of over Rs1,000 crore or net profit of over Rs5 crore, to earmark at least 2 per cent of their average net profits of the preceding three years for CSR activities.