Over the past decade, the Indian consumer story has been transformed by digitalization and disruption. Over 700 million internet users are opening new frontiers for India’s new age catalytic entrepreneurs. While India’s consumer economy has grown by leaps and bounds, India’s inclusive story still leaves a lot to be desired.
The country occupies a modest 131st place on the United Nations Human Development Index. Poor quality health care, substandard education, unmet credit needs, a disempowered rural population and a glaring gender gap. These are critical areas that have been discussed and debated ad nauseam, and are now beginning to get the attention and disruption they deserve.
As innovators and entrepreneurs now work to tackle the challenges of poverty, disease, climate change and inequality. For these high-impact innovations to move from incubation labs to commercial markets, the flow of venture capital is not only necessary, but imperative. To be clear – usual risk-return investing cannot be the benchmark here, impact first must be the approach.
That said, the pandemic’s call for action has turned the tide. More than 300 impact companies raised nearly $7 billion last year, according to the Impact Investors Council report. Technology brings changes, but to have a large-scale impact, it takes more investment and a lot more patience.
As India celebrates 75 years of independence, CNBC-TV18 spoke with Sushma Kaushik, Partner at Aavishkaar Capital; Neelam Chhiber, Founder of Industree and Manoj Kumar, Founder of Social Alpha to review the inclusion playbook and discuss what the road ahead looks like.
Watch the video to learn more.