Giving Compass' Take:

•Inequality is becoming more and more prevalent in some countries.  This network of wealthy Indians are pledging their commitment to philanthropy in an effort to help address poverty and provide funds for social impact.

• Is this becoming an international trend for the very wealthy to turn to philanthropy and social entrepreneurship like it has in the U.S?

• Read about billionaire philanthropy in the United States and how Americans are turning to the ultra-wealthy to fund comprehensive healthcare plans. 

“We see that inequality is increasing sharply in most countries. We see the young and the restless in this interconnected globe, unsure of their future, wanting more but anticipating less. We see a growing politics of polarization, of divisions, of brinkmanship. It is as if the world holds its breath.

Wealth comes with huge responsibility and is best deployed for the larger public interest. So what must the super-wealthy do?”

With this, the Nilekanis joined three other Indian billionaires — Azim Premji, Ajay Harinath Singh, and Kiran Majumdar Shaw — to bring the total number of members in this elite network to 171 from 21 countries. Here’s a look at the Indian signatories of the Giving Pledge.

1. Azim Premji- Tech magnate and Wipro founder Azim Premji, often referred to as India’s Bill Gates for his tech wealth, is Asia’s most generous philanthropist. In 2001, he earmarked an initial $125 million worth of shares in Wipro to establish the education-focused Azim Premji Foundation. He followed this up with several hefty donations to the same foundation that helped him join the ranks of the world’s top five givers

2. Ajay Harinath Singh-In 2016, Ajay Harinath Sing, the founder of Darwin Platform Group, is amongst Newsweek’s list of the most influential Indian businessmen today. The young entrepreneur has been active in Indian philanthropic circles even prior to this, especially when in using his wealth to fund research to treat cancer.

3. PNC Menon- The real estate tycoon has undertaken a multitude of social initiatives at human development through education, health, employment, water, sanitation, housing and social empowerment. For instance, Sobha Academy works to provide education, clothing, food and shelter to the disadvantaged children while Sobha Vocational Training Centres provide skill training in vocational occupations to underprivileged youth

Read the full article about addressing inequality by Ajay Harinath Singh at Medium.