Donations by wealthy individuals has significantly increased private giving by at least 50 percent since 2006 as a percentage of GDP to approximately $5 billion to $6 billion in India in 2010, says a study.
"The future of giving is poised to rise further, as the rich population in India grows and as the philanthropic system becomes more advanced," the study, "India Philanthropy Report 2011," by Bain & Co. said. The report also finds that 40 percent of wealthy individuals in India plan to increase philanthropic donations over the next five years.
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