Indian philanthropists adopt more of a "charity" than "social change" mindset when it comes to their giving activities, a recent study shows. 

In the report "Catalytic Philanthropy In India" by the India School of Business and consulting firm FSG Social Impact Consultants, Indian philanthropists were found to prefer setting up their own foundations and programmes rather than investing in existing non-governmental organisations that target social issues. 

Catalytic Philanthropy refers to innovative practices that have the potential to effect social change in a way that goes beyond the financial resources allocated. 

Most Indian philanthropists are very private about their donations, the report said, with 45 per cent setting aside financial help for education, followed by community development, 18 per cent, healthcare, 13 per cent, disaster relief, 9 per cent, livelihood, 4 per cent and others, 14 per cent. 

"Philanthropy in India is still at a nascent stage. Philanthropists are more oriented towards charity mindset rather than one where they can play a role in engineering large-scale social change," the study said.

The survey was conducted on around 200 high net worth individuals, including in-depth interviews with 45 of the country's wealthiest, or those with at least $20 million in investible assets. The objective of the report was to "generate discussion and serve as a platform for philanthropists and NGOs to work together and catalyse voluntary action."