This is the Indian wealth mgmt century: Ajay Bagga

This is the Indian wealth mgmt century: Ajay Bagga: The perception is wealthy Indians do not spend much on philanthropic causes as compared to their global peers. Is this trend changing?

We feel this is not true. Indians have traditionally been very charitable, but in a private and unorganised manner. In developed markets, with estate duties and succession taxes, a lot of so called philanthropic trusts are actually tax planning avenues to avoid 50% and more estate duties on inter-generational wealth transfers.