Two of the world's richest people Bill Gates and Warren Buffett on Thursday said the rich business fraternity whom they met in India are very enthusiastic about donating their wealth for philanthropic activities.
Gates and his wife Melinda, along with Buffett, held a dinner meeting here with 70 business people, including Wipro Chairman Azim Premji and discussed a wide range of issues related to philanthropy.
The Gates couple and Buffett are in India as part of their philanthropy initiative.
"There is enthusiasm among the people we spoke with for doing, giving in the best possible way. This forum allowed us to learn a lot about what''s going on in India and share our own reasons about giving," Buffett said about the meeting while addressing the media.
Bill Gates said that people participated with enthusiasm in the discussion. "There were 70 people. We will see how it (philanthropy) fits into Indian tradition in the days ahead", he said.
Gates added, "India has historically produced some of the most important philanthropists the world has known. I am certain it will continue to do so again."
He also noted that first generation wealth creators are more generous than people who inherit dynastic wealth.
Regarding the response from rich people in India and China towards philanthropy, Gates said, "overwhelming majority (of people they met) actually chose to come... there was positive spirit and energy.
"We have not passed around with tin coffers or a sign up list... everything that people do will be their choice".
According to him, neither in India nor in China, they have asked people to make any kind of commitment.
"There will be more philanthropy. We don''t ask people to sign up. Anything that we wish to do will be exactly their choice", Bill Gates noted.
On a query about concerns that dirty money flows into philanthropy, Gates said that he is not "police in India". If somebody is doing something wrong in India then they (police) should take notice of that. "It is not our responsibility," he added.
"... that child that receives a vaccine that saves a life, is not going to be questioning the source of the money or the vaccine," Buffett said.
The nearly 90-minute discussion with the Indian industry and those into philanthropy was moderated by Rohini Nilekani.
Meanwhile, Premji voiced concerns against idea of formulating laws on mandatory spending by industry on corporate social responsibility (CSR).
Source: www.moneycontrol.com
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