THE number of Indian billionaires grew from 27 in 2009 to 52 this year, according to a report by Bain, a global consulting firm. Half of the top 25 Asian billionaires listed in a recent Forbes magazine survey were Indian.
India has a long tradition of giving, and all major religions here-Hinduism, Islam and Buddhism-see charity as a cornerstone of a noble, happy life. Wealthy families have long built wells and schools in their native villages, and even the poorest Indians leave a rupee coin at a temple or mosque.
Last month, India’s Tata Group donated $50 million to Harvard Business School, the largest gift ever received by the institution from an international donor. The gift came days after another wealthy industrialist-Anand Mahindra, a Harvard alumnus-gave $10 million to the Humanities Center at Harvard.