MUMBAI: The Premjis, Nilekanis and Godrejs want to part with their money. No, really. The country's ultra-rich families - or the clans behind India's most recognisable multi-billion-dollar businesses or brands - have joined forces with Dasra, a charity focused nonprofit, to give away a portion of their wealth and make a difference in the lives of the less fortunate as part of a philanthropic movement GivingPi.
This family philanthropy network, being launched next month, aims to have 5,000 members by 2030 raising $1 billion or Rs 100 crores annually to fund India's social development. For a sector that relies heavily on public generosity to survive, the initiative comes at a time when non-profits are in need of rescue themselves after the Covid-19 crisis ate away at their resources with donors diverting their funds to pandemic relief.
