New Delhi, Mar 22 (TIWN): Total private philanthropic funding in India is estimated to grow at approximately 12 per cent annually in the next five years, riding on a robust growth in the three main segments -- corporate social responsibility, family philanthropy (ultra-high-net-worth individuals and high-net individuals), and retail, according to a India Philanthropy Report 2022 (IPR), co-created by Bain & Company and Dasra.

With Covid-19 pandemic pushing more than 200 million Indians into poverty coupled with State finances negatively affected because of the pandemic and government debt increasing, the private philanthropy will play a crucial role in bridging the funding gap.