As the new financial year begins, we look back at some of the remarkable acts of philanthropy by corporate leaders of India in the last year. Even as the Gates & Buffet found their way to India at the fag end of the year, many corporate leaders engaged in substantial acts of philanthropy. Ramachandra Guha, a respected Indian historian, has called this the "third big wave of public philanthropy" in recent Indian history.
With this we begin a 4-part series on 8 individuals who have in total given close to Rs. 10,000 cr, last year in philanthropy. These range from Rs. 50 lacs by Navin Jindal to Rs. 8,850 cr. by Azim Premji. We start off with Anand Mahindra, Vice-Chairman and Managing Director of Mahindra & Mahindra and A. M. Naik, Chairman, L&T.
Anand Mahindra
Vice-Chairman and Managing Director of Mahindra and Mahindra
Giving : Rs. 44 crore ( USD 10 million )
Area : Education
Organization : Humanities Centre, Harvard University
Anand Mahindra ,Vice-Chairman and Managing Director, Mahindra and Mahindra has given USD 10 million (rupees 44 crore) to Harvard's Humanities Centre for the University's humanities program. This is the one of the "largest gifts" given to the Havard Humanities Centre. The money has been given in honour of his mother Indira Mahindra. Mr Mahindra had graduated from Harvard in 1977 and earned an MBA degree in 1981.
The money will be used to promote interdisciplinary exchanges though scholarships, panel discussions, conferences and workshops at Harvard. The subjects of seminars from the center this year range from "Modernism" and "Italian Studies" to "Music, Sensory Ecologies and the Body" and "Cross-Cultural Poetics and Rhetoric." The department will be named the Mahindra Humanities Centre.
Few Indians have funds for the study of humanities or social sciences. Most give to the study of engineering or sciences. Anand Mahindra studied films and architecture before joining the Harvard Business School.
Anand Mahindra says, “I am convinced of the need for incorporating social and humanistic concerns into the core values that inform the world of business and have sought to do so with tremendous support from my peers and colleagues at work and beyond.”
Anil. M. Naik
Chairman, L & T
Giving : Rs. 20 crore
Area : Education
Larsen & Toubro’s managing director A.M. Naik has given away Rs 20 crore for a cancer hospital and schools. 25% of his stock options worth 337 cr. at Tuesdays prices for rural development. Naik,CEO and Chairman of L&T,still remembers the day his father asked him to contribute some money for the expansion of a hospital in their hometown of Kharel, in Surat district of Gujarat.
The satisfaction of being able to make a difference has stayed with Naik. When he had the wealth, Naik, 68, started a vocational training institute in Surat for school dropouts with a seed capital of Rs 11 crore. He is also given money for a cancer hospital in Surat and a multi-crore corpus to subsidise education and healthcare for the poor.
“My father gave Rs 25,000,which was his entire lifes savings”, says Naik. “I gave Rs 4 lakh. At that point, it was Naiks entire savings.But it was worth every bit. “
With this we begin a 4-part series on 8 individuals who have in total given close to Rs. 10,000 cr, last year in philanthropy. These range from Rs. 50 lacs by Navin Jindal to Rs. 8,850 cr. by Azim Premji. We start off with Anand Mahindra, Vice-Chairman and Managing Director of Mahindra & Mahindra and A. M. Naik, Chairman, L&T.
Vice-Chairman and Managing Director of Mahindra and Mahindra
Giving : Rs. 44 crore ( USD 10 million )
Area : Education
Organization : Humanities Centre, Harvard University
Anand Mahindra ,Vice-Chairman and Managing Director, Mahindra and Mahindra has given USD 10 million (rupees 44 crore) to Harvard's Humanities Centre for the University's humanities program. This is the one of the "largest gifts" given to the Havard Humanities Centre. The money has been given in honour of his mother Indira Mahindra. Mr Mahindra had graduated from Harvard in 1977 and earned an MBA degree in 1981.
The money will be used to promote interdisciplinary exchanges though scholarships, panel discussions, conferences and workshops at Harvard. The subjects of seminars from the center this year range from "Modernism" and "Italian Studies" to "Music, Sensory Ecologies and the Body" and "Cross-Cultural Poetics and Rhetoric." The department will be named the Mahindra Humanities Centre.
Few Indians have funds for the study of humanities or social sciences. Most give to the study of engineering or sciences. Anand Mahindra studied films and architecture before joining the Harvard Business School.
Anand Mahindra says, “I am convinced of the need for incorporating social and humanistic concerns into the core values that inform the world of business and have sought to do so with tremendous support from my peers and colleagues at work and beyond.”
Anil. M. NaikChairman, L & T
Giving : Rs. 20 crore
Area : Education
Larsen & Toubro’s managing director A.M. Naik has given away Rs 20 crore for a cancer hospital and schools. 25% of his stock options worth 337 cr. at Tuesdays prices for rural development. Naik,CEO and Chairman of L&T,still remembers the day his father asked him to contribute some money for the expansion of a hospital in their hometown of Kharel, in Surat district of Gujarat.
The satisfaction of being able to make a difference has stayed with Naik. When he had the wealth, Naik, 68, started a vocational training institute in Surat for school dropouts with a seed capital of Rs 11 crore. He is also given money for a cancer hospital in Surat and a multi-crore corpus to subsidise education and healthcare for the poor.
“My father gave Rs 25,000,which was his entire lifes savings”, says Naik. “I gave Rs 4 lakh. At that point, it was Naiks entire savings.But it was worth every bit. “
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