ISR growing in India

The corporate honchos in India have actively started giving from their personal wealth than company coffers. This is what ISR is about. First it was Shiv Nadar, Co-founder of HCL; Azim Premji of Wipro followed the next. And now Vineet Nayar, Vice Chairman of HCL Technologies follows suit by giving from his personal wealth.

But the similarity is that all are putting their millions into family owned non-profits. This makes their contributions debatable. But it is a good start, I am sure some of this wealth would find way into supporting existing non-profits who are already doing the same work.

Click on the links below to read more about their ISR initiatives.

http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/HCL-Techs-Nayar-divests-own-stake-for-charity/articleshow/7063225.cms

http://www.hindustantimes.com/Premji-s-2-bn-gift-to-charity-individual-act-not-CSR-initiative/Article1-634769.aspx

Giving as a percentage of GDP

Last evening there was this panel discussion on NDTV Profit on giving as a corporate culture. The participants, corporate honchos, did not have much to offer but one side view of the voluntary sector. Although, anchor rattled some figures that were interesting enough. He compared charitable giving as a percentage of GDP. According to him US gives 2.5% of its GDP. UK gives 1.75% of its. Amongst BRIC, India gives 0.6% of its GDP while Brazil and China languish at 0.3% and 0.1% respectively.Lots of catching up to do for the formidable BRIC.