Page 42 - Education World November 2022

Cover Story

and leftist intelligentsia, have built BITS-Pilani
substantial fortunes. They should be IISc
encouraged and provided stimulating
ground conditions to practice serious
philanthropy.
In this connection, it’s pertinent to
recall that ancient India’s inclusive gu-
ruk uls, in which children of rich and
poor learned together, were funded as
much by merchants and businessmen
as by rajahs and princes. This tradition Amity University OP Jindal Global University
was maintained by successful native
business and industry leaders — who
Left intellectuals dominating the acad-
emy conveniently forget — funded the
freedom movement despite every dis-
couragement by the British Raj.
T of Science, Bangalore
HE INDIAN INSTITUTE
(estb.1904), Birla Institute
of Technology & Science Privately promoted universities: inherited philanthropic culture testimony
(BITS), Pilani (1964) and a spate of ating much-needed change around dia. Clearly with a fast-rising number
latter day universities including Am- the world. Over time and across ge- of Indians entering the millionaires, if
ity, Ashoka, Jindal Global, Munjal, ographies, the world has witnessed a not billionaires, club every day, there
Shiv Nadar and Krea among others near-universal charitable instinct to is considerable scope for multiply-
are testimony to the inherited philan- help others. Recent years, however, ing the number of foundations and
thropic culture of Indian business and have seen a marked and promising accelerating philanthropy and chari-
industry. Nor is this giving culture of change in charitable giving — wealthy table giving to promote education and
India Inc restricted to higher educa- individuals, families, and corpora- eliminate child malnutrition.
tion. A large number of primary-sec- tions are looking to give more, to give The auguries for substantial inflow
ondary schools countrywide have also more strategically, and to increase the of philanthropy funding into Indian
been established by business tycoons impact of their social investments.” education are good. According to GPR
and philanthropists. GPR 2021 reports that there are 2021, the education sector is specially
In the recent (September-October) 156,894 identified philanthropic favoured by philanthropic founda-
EducationWorld India School Rank- foundations in 23 countries world- tions with 35 percent of total funding
ings 2022-23 — the largest schools wide who have donated “irrevocable worldwide flowing into education.
rankings survey worldwide — league endowments that are committed in In North America (US and Canada),
tables, a large number of schools pro- perpetuity to charitable pursuits” ag- 93.6 percent of philanthropic funding
moted by business and industry hous- gregating $1.5 trillion (Rs.124 lakh accrues to education institutions and
es including Ambani, Birla, Jaipuria crore). Eighty-five percent of these causes, and 47 percent in Asia. “Edu-
figure prominently. foundations are sited in the US and cation is seen as the key to individual
Nevertheless, as detailed in Ox- Europe with American foundations opportunity and the engine of national
fam’s CRII 2022, given India’s mas- heading the owned-assets list with prosperity,” write the authors of the
sive 1.4 billion population and geo- $890 billion followed by Netherlands data-rich GPR 2021.
graphical spread, the scale of Indian ($108 billion), Germany (92.9 billion), However, the mere existence of a
philanthropy is glaringly inadequate. Italy (86.9 billion) and the UK (84.2 small even if growing minority of HNI
Comments the G lob al Philanthropy billion). (high networth) and wealthy individu-
R eport: Perspectives on lob al F oun- Inevitably, the aggregate asset value als in any society doesn’t per se guar-
G
dations (GPR) 2021, published by the of philanthropic foundations in India antee philanthropy and fund flows
Kennedy School of Public Policy of is relatively minuscule ($0.83 billion into education institutions. Charita-
Harvard University (USA): “Global or Rs.6,869 crore). Surprisingly, the bly inclined HNIs are inevitably con-
philanthropy holds immense promise assets of philanthropic foundations in fronted with the dilemma of having
in the 21st century. Global giving is China aggregate $14.2 billion (Rs.1.1 to choose between an array of chari-
growing, gaining visibility, and cre- lakh crore) — way greater than in In- ties and causes. American universi-

42 EDUCATIONWORLD NOVEMBER 2022