The Business Leaders Behind the Foundations: Understanding India’s Emerging Philanthropists

This research builds our understanding of emerging corporate and private Indian foundations through the lens of their founders—India’s new generation of high-net-worth business leaders. Based on over 45 interviews and drawing on existing literature, it explores the background of these individuals, their unique position as “hyperagents,” and the Indian context that shapes their foundations. Findings suggest that these philanthropists prefer operational foundation models, politically and socially “safe” sectors, carry over business tendencies, pursue social change through a driver or catalyst role, and hold preference for control at the cost of coordination between actors. These approaches are logical given the context but are not the ideal end-goal, rather a step toward advancing HNWI philanthropy in the country. This work will be of interest to those looking to engage with Indian philanthropists and foundations, and given the limited existing scholarship on Indian philanthropy, it contributes to the development of India-specific theories.