Bharti family pledges Rs. 7000 cr to philanthrophy

India's leading Telecom czar, Sunil Mittal on Thursday announced that the Bharti family has pledged 10 percent of their personal wealth for philanthropic purposes.

The family's commitment towards the pledge of 10 percent, which is approximately Rs. 7,000 crores, includes three percent of their stake in group flagship Bharti Airtel, towards supporting the activities of Bharti Foundation.

Bharti Foundation, which is the group's philanthropic arm is one of the few professionally managed humanitarian bodies in India. With this commitment, the Bharti family envisions to significantly step up the scope and reach of Bharti Foundation's activities, and further enable the foundation to develop and execute innovative development models to support the aspirations of India's underprivileged including students of Satya Bharti Schools.

"Bharti's DNA has always been about creating a deep positive impact on society through our businesses, and we are proud to have contributed to the India growth story," Sunil Bharti Mittal said in a statement.

"We have always reckoned that ownership of business is a social responsibility, and wealth creation cannot be an end in itself. Even when we were small in size and relatively modest with our business goals, we always aspired to be part of the wider nation building process," he added.

"Bharti Foundation has done some exceptional work for uplifting the underprivileged and it stands out as a shining example of how professionally managed development arms of businesses can build innovative and sustainable models that make real and measurable difference on ground," added Mittal.