Pvt philanthropic funding to grow 12% annually in next 5 yrs: Report

New Delhi: Total private philanthropic funding in India is estimated to grow at approximately 12 per cent annually in the next five years, riding on a robust growth in the three main segments - corporate social responsibility, family philanthropy (ultra-high-net-worth individuals and high-net individuals), and retail, according to a India Philanthropy Report 2022 (IPR), co-created by Bain & Company and Dasra.

With Covid-19 pandemic pushing more than 200 million Indians into poverty coupled with State finances negatively affected because of the pandemic and government debt increasing, the private philanthropy will play a crucial role in bridging the funding gap. India's total social sector funding has seen a 12 per cent annual growth over the past five years. In fact, FY21 witnessed a sharp increase of 20 per cent year-on-year. CSR, family philanthropy and retail giving cumulatively contribute about 84 per cent of the total private philanthropic capital in India.