Study Finds Wealthy Indians Are Giving More

India’s richest people boosted their philanthropy by more than third in 2011, and many say they plan to donate more this year, Indian dailies Business Standard and The Economic Times report, citing a new study on giving in the country.

Wealthy Indians gave 3.1 percent of their income to charity in 2011, compared to 2.3 percent the previous year, according to third annual India Philanthropy Report from Bain & Company, which surveyed 400 Indians with a high net worth. Giving by rich Americans, used a benchmark in the study, stands at 9.1 percent of income.

More than half of respondents said they planned to increase their giving in 2012. As was the case in past years, education was the leading cause for Indian donors, but the proportion of philanthropy devoted to providing provide food and clothing for the needy more than doubled from 2010 to 2011.

Most of those surveyed were under 40 years old. “We are encouraged by the emergence of the next generation of donors, who are even more committed to supporting this charitable culture as their wealth grows,” said Arpan Sheth, a Bain partner in Mumbai and the report’s author.