ARPAN SHETH and MADHUR SINGHAL of Bain & Company claim that the entire philanthropy ecosystem consisting of donors, support networks and grassroots organisations had expanded dramatically over the past five years.
In their report, "India Philanthropy Report 2011", based on interviews with philanthropists and experts on philanthropy in India they state that private charitable giving now represented about 0.3-0.4% of the GDP, a growth of 50% since 2006 backed by a surge in the population of high net-worth individuals, expansion of the scale of support networks and change in attitudes about giving as well as increasing awareness.
They outline four key areas to enhance private philanthropy:
1. Enhanced accountability and transparency throughout the giving chain;
2. Professional NGOs with strong financial planning and operational skills;
3. Continued promotion of a culture of giving;
4. Collaboration with the government on adoption of more philanthropy-friendly policies.
In their report, "India Philanthropy Report 2011", based on interviews with philanthropists and experts on philanthropy in India they state that private charitable giving now represented about 0.3-0.4% of the GDP, a growth of 50% since 2006 backed by a surge in the population of high net-worth individuals, expansion of the scale of support networks and change in attitudes about giving as well as increasing awareness.
They outline four key areas to enhance private philanthropy:
1. Enhanced accountability and transparency throughout the giving chain;
2. Professional NGOs with strong financial planning and operational skills;
3. Continued promotion of a culture of giving;
4. Collaboration with the government on adoption of more philanthropy-friendly policies.
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