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according to Edelgive Hurun India Philanthropy List 2025Many of the nation’s largest donors represent second-generation wealth creators and first-generation entrepreneurs who are giving through their own foundations and family trusts rather than through corporate entities.
Unspent CSR remains unresolved
While overall philanthropy levels have still not returned to the 2021-22 peak, the growing pool of unspent CSR funds among BSE 200 companies remains a matter of concern. Since FY2015, FY21 has been the only year in which additional CSR spending has outstripped the unspent allocation. According to the report, the trend has since reversed, with unspent CSR rising steadily to ₹1,920 crore in FY25.
Nagma Mulla, CEO, Edelgive Foundation, in a conversation with CNBC-TV18 said, “CSR should be considered and looked at differently, because CSR is not just about a company’s intention to pay, but also to comply with regulatory requirements.” He highlighted how tight deadlines often create friction between intent and implementation.
“There are some things that create a bit of chaos. For example, before March 31, we have to finish all deployments, and the organization that receives it has to spend it in full. But the fact is that, for many rural organizations, the crisis starts in the month of April, because it is summer. I don’t think it means that people are not generous or companies don’t want to give, but there is a gap in the system,” Mulla explained.
The report data also shows that while unspent CSR is increasing, Additional expenses of companies have also increased – 60% from FY23 to FY24 and additional 40% from FY24 to FY25. This shows that even though some companies are lagging behind in their mandatory CSR, other companies are making substantial voluntary contributions.
Overall, total CSR spending has increased by nearly 30% year-on-year, reaching ₹18,963 crore in FY20. The financial services sector, with 51 companies, contributed about 22% of the total CSR spending, while the FMCG sector, with only 22 companies, contributed 18%.
Philanthropy is strengthened in personal capacity
Beyond corporate donations, India’s philanthropic landscape is seeing steady growth individual and personal donationsBusiness leaders like AM Naik, Amit Chandra and venture capitalist Prashant Prakash were among the country’s top 100 donors. Together, these individual philanthropists contributed more than ₹800 crore, moving away from the traditional focus on education and health care to work such as research, water conservation and urban governance.
FY25 also saw a number of entrepreneurs exit successful ventures and increase their donations, reflecting a Silicon Valley-style culture of giving back. According to Anas Rehman Junaid, founder and chief researcher, Hurun India, this trend is expected to increase.
Junaid said, “It is consistent – take the case of Binny Bansal, who exited Flipkart a few years ago. He has been on the philanthropy list consistently for the last four to five years. Every year he donates around ₹15-16 crore. Or be it Ranjan Pai, who donated ₹160 crore this year after his exit from Temasek. And every year, the donations are also increasing. So he is an excellent role model, who gives back to the country. “Demonstrates an understanding of giving.”
Topping the 2025 list, Shiv Nadar and family retained the No. 1 spot with donations worth ₹2,708 crore, while Mukesh Ambani and family were at the second position with ₹626 crore.
Donors affiliated with Infosys also continued to play a visible role in India’s philanthropy landscape, contributing approximately 8% of total contributions in FY2015. Nandan and Rohini Nilekani increased their donations by 19% and 33% respectively, while co-founder K. Dinesh and Chris Gopalakrishnan donated ₹70 crore and ₹124 crore in individual capacity – underscoring an enduring culture of giving embedded in the Infosys network.
missing systems
Despite the increasing pace in indian philanthropyMulla cautioned that the ecosystem supporting long-term giving remains underdeveloped.
“Any industry that needs to work like a well-oiled machine needs to be built on very robust systems. Where is the funding for the systems? Nobody actually funds them,” he said.
Mulla said, “One message I would love to send is that every philanthropist needs to put some money towards boring, repetitive systems, because that will reduce costs, ensure that our money will last longer, and result in more philanthropy in the long run.”