The word `philanthropy', according to JRD Tata, means much more than mere charity. The distinctive characteristic of the Tata Trusts is that they have always borne the human aspect in mind. The smallest grant made by the Trusts, one year, was Rs 125 for a pair of spectacles for a poor man who could not otherwise afford it. For that man it meant the difference between light and darkness.
Professor K Ramachandran, Thomas Schmidheiny Chair Professor of Family business and Wealth management at ISB and Rachna Jha, Research Assistant, encapsulate the growth of philanthropy in India