Wealthy have a social responsibility amid rising inequality: Rohini Nilekani
economictimes.indiatimes.comRohini Nilekani Philanthropies, said here on Tuesday.
“You cannot have societies where wealth is only used to benefit the wealthy. Otherwise, why would societies want to create that wealth?” she said, adding that Indian philanthropists must challenge old ideas and innovate.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Professional Certificate in Digital MarketingVisitIndian School of BusinessISB Applied Business AnalyticsVisitIndian School of BusinessISB Digital TransformationVisit“I think philanthropists need to take on more risky philanthropy,” Nilekani said, highlighting the role of philanthropists in creating a fairer society.
“There is growing inequality in the world,” she said. Economic value is narrowly concentrated. “You have to let that value flow all the way down.”
If wealth remains concentrated in the hands of a few, the government may have reason to look to other means such as higher taxation to distribute wealth more fairly, Nilekani said.
The masses are not yet resentful of the wealthy, but if they will remain that way depends on how the wealthy behave, she said.
In 2022, Rohini and her husband and Infosys cofounder Nandan Nilekani took the ‘Giving pledge’, following Bill and Melinda Gates, promising to give away at least half their wealth towards charitable causes in their lifetime.
New technology has a role to play in philanthropy, she said. “There are new technologies, which can help everyone do their own part and do it with much less friction,” she said.
Nilekani cited Ekstep Foundation, which she cofounded in 2015 with her husband, and how it cooperated with the
