Wealth With Purpose
On July 18, TCF hosted an event in Mumbai, in collaboration with Accelerate Indian Philanthropy (AIP), Boston Consulting Group (BCG), A.T.E. Chandra Foundation, India Impact Sherpas, and Motilal Oswal Financial Services Ltd. This event marked the launch of AIP and BCG’s collaborative report on private Indian philanthropy and featured discussions on TCF's report, 'Systemic Impact Exemplars'. The gathering brought together philanthropists, CSR leaders, and thought leaders to explore how private Indian philanthropy can be harnessed to drive systemic change.
Ashish Dhawan, Founder-CEO of The Convergence Foundation, opened the event by underscoring the transformative power of philanthropy. He highlighted that supporting systems change offers philanthropists the highest RoI in terms of scale and sustainable impact, and expressed his hope that the event’s discussions would inspire new ideas and compel attendees to consider sustainable, population-level impact as an essential lens guiding their decisions on what and whom to support.
Rohini Nilekani, the Chairperson of Rohini Nilekani Philanthropies, and Ajay Piramal, Chairman and Executive Director of Piramal Group, delivered the keynote address. Nilekani urged philanthropists to support initiatives designed for scale from the get go to achieve systemic impact. Piramal highlighted the need for collaboration with the government, noting that philanthropic capital is much smaller than government spending in the social sector.
A panel discussion on ‘Unlocking Funding for Systemic Impact’ emphasised the catalytic potential of flexible philanthropic capital for System Support Organisations (SSOs), and how it allows them the freedom to explore, learn, and adapt within their systems. Dr. Rukmini Banerji, CEO of Pratham Education Foundation, highlighted that patient and flexible capital enabled the development of ASER from village report cards. She emphasised that unrestricted financial support from the Indian diaspora, though modest, was crucial for this progress. Rizwan Koita, Co-Founder of Koita Foundation and CitiusTech, described their positive experience collaborating with government bodies like NHA and NABH to support India's digital health transformation. By building internal teams within these organisations, they have successfully strengthened institutions over the past 2.5 years. The discussion was moderated by Ashish Dhawan.