Azim Premji Charity – Rs.1.45 lakh crore.

Azim Premji Charity – Rs.1.45 lakh crore.

Azim Premji – hikes allocation to charity to Rs.1.45 L Crore.  He is the founder of IT giant WIPRO in India.

His foundation works directly in education and supports over 150 other non-profits serving under-privileged and marginalized Indians through multi-year financial grants.

The shares held by entities controlled by Azim Premji have been irrevocably renounced and earmarked to the Azim Premji Foundation

Highlights of Azimji’s philanthropy :

  1. Wipro Chairman Azim Premji announced an increase in the philanthropic contribution by Rs.52750 crore.
  2. This contribution to philanthropy by Azim Premji takes his commitment to Rs.145000 crore ($ 21 billion)
  3. This commitment of his take shim close to the Bill And Melinda Gates Foundation.  This foundation has investment assets of about $40 billion and the Ford Foundation about $ 12 billion.

Azim premji :

Azim Hashim Premji (born 24 July 1945) is an Indian businessman, investor and philanthropist, who is the chairman of Wipro Limited.. He is informally known as the Czar of the Indian IT Industry.

He was responsible for guiding Wipro through four decades of diversification and growth to finally emerge as one of the global leaders in the software industry.  In 2010, he was voted among the 20 most powerful men in the world by Asiaweek.

He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011.  Premji owns 73% percent of Wipro and also owns a private equity fund. Premji Invest manages his $2 billion worth of personal portfolio.

He is currently the second richest person in India.   In 2013, he agreed to give away at least half of his wealth by signing The Giving Pledge.  Premji started with a $2.2 billion donation to the Azim Premji Foundation, focused on education in India.

Philanthropy :

Azim Premji, the billionaire chairman of Indian conglomerate Wipro Ltd., will give a further 34 percent of shares in the company worth $7.5 billion to support philanthropic activities, the most generous donation in Indian history.

Azim Premji, the billionaire chairman of Indian conglomerate Wipro Ltd., will give a further 34 percent of shares in the company worth $7.5 billion to support philanthropic activities, the most generous donation in Indian history.

Generosity of Azim Hashim Premji :

The philanthropic commitment makes Azimji foundation one of the biggest foundations in the world.  His announcement came at a time when the ultra rich in the country is contributing very less towards social causes.

Azim Premji is the first Indian to sign “the Giving Pledge” initiative which was started by Bill Gates and Warren Buffet.  Under this pledge the billionaires commit atleast 50% of their wealth to philanthropy.

Azim Premji Foundation :

Azim Premji Foundation is a not-for profit organisation that has been working since 2000 with the elementary education system in rural government schools in India.

The Foundation began by implementing various programs to improve educational quality across the country. By 2010 however it became clear that working on a “project” mode was inadequate and it takes continuous effort over many decades for any deep-rooted change to happen.

This can only be achieved by establishing “institutions” which are embedded in the local context and can collaborate with local government structures. Thus the idea of setting up District Institutes in field locations came into being.

Today, the Foundation with 1000+ employees has field institutes in 40+ districts across 6 states and 1 union territory (Karnataka, Rajasthan, Uttarakhand, Chhattisgarh, Madhya Pradesh, Telangana and Puducherry) reaching more than 3,50,000 schools across the country.

History of Premji Foundation :

Having successfully built Wipro to be a business leader, Premji felt the need to contribute to a social cause and address the various developmental challenges facing the country.   

Primary education was narrowed down as the Foundation’s focus of work because it was a critical factor that significantly impacted other issues in the country.

Photo azim premji foundation

The Azim Premji Foundation India Private Limited, was registered in February 2000. Later it was re-registered as the ‘Azim Premji Foundation’ on 9th March 2001 under Section 25 of the Indian Companies Act of 1956.

The  Foundation was to be funded solely by Azim Premji by way of transfer of his personal shares to the Foundation. 

The foundation set up the Azim Premji University to develop professionals in education and related human development domains, offer degree and education programs, and conduct research.

Azim Premji University :

Azim Premji University was established in Karnataka by the Azim Premji Univerity Act 2010 as a not-for-profit University and is recognized by The University Grants Commission (UGC) under Section 2F.

The beginnings of the University are in the learning and experience of a decade of work in elementary education by the Azim Premji Foundation.

The University was founded as one of the key responses to the constraints and challenges that the Foundation encountered both within and in the environment, and as part of a larger strategy to contribute to the Education and Development sectors in the country.

The team working in education will scale from the current 1,600 people and grant-making activities will triple. The Bengaluru-based university will expand to 5,000 students with over 400 faculty members.

The idea of the endowment is to support the designated causes for life.  The number of students in the university is increasing every year.  A second University is in planning process. It may be at Madhya Pradesh.

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