India has generated unprecedented wealth since the reforms that began in 1991, and has the most millionaires of all developing nations. The IPF capitalizes on this unique opportunity to build a philanthropic sector by providing a forum for a wide range of viewpoints in which members can share knowledge and experience on reducing poverty in India and elsewhere.
At the opening session, Firoz Ladak, Executive Director of the Edmond de Rothschild Foundations, underlined the significant transition currently underway in the philanthropic sector, from a charity-based approach to “strategic philanthropy.” An unprecedented increase in the funds earmarked for philanthropy and the desire of donors to see what their efforts achieve during their lifetime translate into a need to find effective models that best reflect this strategic vision.
The Forum also offered an opportunity for intergenerational exchanges among India’s well-known industrial families, including the Kotharis, the Jindals and the Piramals. In total, over 25 foundation, government and social sector representatives shared their experiences in roundtable discussions held during the event, which brought together over 500 people and attracted wide media coverage. In addition to the challenges still faced by India, the conference highlighted promising trends in the philanthropic sector today and is a coherent component of the Edmond de Rothschild Foundation’s international strategy.