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Indian philanthropy from wealthy families to grow by 10-12% annually, boosting social sectors.
India's social sector funding is expected to grow by 10-12% annually over the next five years, mainly due to increased family philanthropy from wealthy individuals.
Currently, private spending in education, healthcare, and other social areas totals around Rs 1.3 lakh crore ($16 billion).
The report suggests that better support could unlock an additional Rs 50,000-55,000 crore ($6-7 billion) in family donations.
Family businesses, contributing 40% of private philanthropy, and the rise in family offices could further boost charitable giving.
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La filantropía india de las familias adineradas crecerá entre un 10 y un 12% anual, impulsando los sectores sociales.