Indians are no strangers to the concept of daan, or charity, whether it is giving alms to street beggars or making donations at temples. (Some of the world's richest houses of worship are located in India.) But large-scale, Western-style philanthropy is yet to catch up with the country's recent runaway wealth creation at the top.

India now has the world's fourth-largest pool of billionaires, with more than 100 three-comma fortunes. In the past five years, a rising stock market has boosted the combined wealth of India's 100 richest by more than 40% to $492 billion.

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