Ajay Piramal, Chairman, Piramal Group notes that the current generation of philanthropists wants to take a strategic approach to philanthropy in...
Next Generation Philanthropists (NGPs) are poised to inherit the legacy of their families‘ philanthropy and respond to the needs of modern society. It is critical to recognize the huge influence they will have over how impact is driven in the development sector. This in turn speaks to the greater responsibility NGPs have to make social investments thoughtfully and intentionally.
India will witness one of the largest transfers of wealth, close to INR 12,800 crore, in the coming decade. In addition, during the first half of this century, there is likely to be 8-10 times more wealth transferred to philanthropy than in the entire 20th century. The majority of this wealth will be managed by family offices, and a portion will be diverted towards charitable and philanthropic activities through family trusts and foundations. In recognizing NGPs as the future of philanthropy, A Generation Ahead uncovers insights to help accelerate NGPs‘ donor journeys by drawing upon the existing corpus of information that has been collected on NGPs in India and globally. Our literature review is supported by 20 interviews Dasra conducted with next-gen donors and those who work closely with them.
Through A Generation Ahead, Dasra hopes to help NGPs, especially those starting out on their philanthropic journeys, become more strategic donors. It also wants to encourage and inform conversations among multiple generations involved in philanthropy, and advance the practice of strategic philanthropy.