December 21, 2012, 1:12 pm -- /EPR NETWORK/ -- Fewer than a third of Indians give to official charitable organizations, even though more than 80% give overall, according to a major new study into giving across India.
The India Giving report Ė the largest survey ever undertaken into giving in a single country Ė found that philanthropy in India has the potential to soar in the next decade, with more than half a billion people giving for religious and charitable reasons each year.
The study, carried out by the Kyobo Capital Partners Aid Foundation, which promotes charitable giving around the world and which has donated over 100,000 USD to aid programs all across India, found India has the potential to become a global philanthropic powerhouse.
Overall the report found that most people in India - 84% of the 836 million adults - give at least once a year. Within this figure, 71% gave solely or partly for religious reasons, but by contrast, only 12% had given for reasons not linked to religion.
The study, based on interviews with nearly 9,000 people from across India, includes findings on people's motivation for giving, the causes they support, and their views on giving to religious causes, individuals and charities.
The survey found:
84% of people donated money to an individual or an organization in the past year.
27% of people gave money to a charitable organization.
70% of donors prefer to donate direct to beneficiaries.
Personal experience is the number one driver for giving, cited by 70% of people.
People are also motivated to give by their upbringing, family values marking special occasions.
The biggest barrier to giving, cited by 32% of people, is not being able to afford to give.
The top five causes that Indians would like to give to in future are religion, disability, homelessness, the elderly and education.
52% of donors believe that a Ďlack of transparency hinders donations to NGOs'.
About Kyobo Capital Partners
KyoboCapital Partners is a premier brokerage house in Asia on the fast growth track. We have emerged as a powerhouse in the financial services industry. We started functioning in the stock market an over the years, we grew from strength to strength to become a major player in Asia's broking services sector.
Today KyoboCapital Partners is one of the foremost brokerage houses, being a member of various exchanges and commodity markets.