India is a Favorite Destination for Global Corporate Giving

India topped the list of countries where most corporate giving went from international businesses in 2012, according to a recent report by the Committee Encouraging Corporate Philanthropy (CECP). Among 60 large multinational companies that gave a total of $6.8 billion, nearly 70 percent earmarked a share of   their corporate giving to India.

The study, authored by CECP’s Carmen Perez found that most large businesses chose to invest their  funds in geographical neighbors and emerging markets. The study  tracked giving according to three categories, namely direct cash, foundation cash and in-kind contributions.  Total giving per company ranged from $450,000 to about $1.5 billion. The median total giving was $29.25 million.

Below are key points from the study that show trends in global corporate giving :

  1. Global corporate giving remains unevenly distributed. Some companies elected to give large contributions to a select few countries while the others received much less.
  2. A company’s strategic business needs dictate corporate giving, especially among multinationals investing in emerging markets.
  3. Corporate interests govern giving and funds typically flow into neighboring countries or to emerging markets.
  4. Emerging markets namely India, Brazil, China, Colombia, Indonesia, Malaysia and Mexico received larger charitable contributions in 2012, driven largely by robust economic growth.
  5. Businesses gave less in countries like Turkey and Venezuela citing instability and political turmoil.

A currency cannot unite cultures

India celebrates it’s 64th year of independence from the British today, and it’s ironic to say that there are riots in Britain and the European Union is finally realizing that it can’t stay together.

It’s a wonder that India is staying together amid different dialects, languages and cultures. Travel a 100 miles and people’s attitudes, food habits, culture and language change. There are states steeped in poverty and those that have  some of the most literate folks worldwide. Sixty four years after the British left, how is India staying together while the European Union is waiting to split?

A currency cannot unite cultures, nor shared prosperity or the finer aspects of capitalism. What holds countries together is a shared passion for something that they earned together. In Europe, every country in the Union has it’s own culture. The prudent Germans may not be similar to the Italians, the Irish or the Greece. Uniting cultures that wish to stand on their own is difficult unless there is a common thread beyond trade and economic prosperity.

In India, an “Indianness” unites over a billion people-1618 languages, six religions, 6400 castes, 6 ethnic groups, 29 major festivals and one country.