Close X
Sunday, November 24, 2024
ADVT 
India

$8 bn market opportunity awaits India’s social enterprises by next year: Hardeep Puri

Darpan News Desk IANS, 11 Sep, 2024 11:59 AM
  • $8 bn market opportunity awaits India’s social enterprises by next year: Hardeep Puri

New Delhi, Sep 11 (IANS) India’s social enterprises are witnessing rapid growth and the market opportunity and potential for them is estimated to be $8 billion by next year, Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, has said.

The minister emphasised that social enterprises have always been a vital part of the Indian life, significantly impacting sectors such as agriculture, health, and education.

Speaking at an event in the national capital, the minister highlighted that these enterprises play a crucial role in improving the lives of millions and driving social progress across the country.

The increase in average deal size for social impact investments grew from $7.6 million to $17.6 million between 2010 and 2016.

During the event, the minister also drew attention towards Social Stock Exchange (SSE), a pioneering initiative of the Prime Minister Narendra Modi’s government aimed at providing social enterprises with enhanced visibility and access to capital.

The SSE offers a platform for these enterprises to attract investment, measure their social impact and demonstrate their effectiveness in addressing societal issues.

“Over 20 Social Enterprises have already listed on the exchange”, the minister noted.

The SSE vision, outlined by Finance Minister Nirmala Sitharaman during her budget speech for the financial year 2019, gives socially-conscious firms the much-needed boost by offering an effective means of raising capital.

Since its inception, the Social Stock Exchange in India has seen encouraging progress with 65 NPOs registered and 8 NPOs listed on the NSE-SSE platform. The NSE has been proactive in ensuring the success of the Social Stock Exchange.

The SSE framework, guided by SEBI, offers a structured mechanism for fundraising, transparency, and impact measurement, thereby enhancing trust and efficiency in the social sector.

Minister Puri also underscored the significant progress made in disability rights, recalling the landmark Rights of Persons with Disabilities Act, which was enacted in 2016, expanding the recognised disabilities from 7 to 21.

“This pivotal legislation represents a crucial step forward in acknowledging and addressing the diverse needs of persons with disabilities. The new Census will give a truer picture of the number of persons living with disabilities in the country,” said Minister Puri.

MORE India ARTICLES

Heavy rainfall lashes Hyderabad, inundates low-lying areas

Heavy rainfall lashes Hyderabad, inundates low-lying areas
Heavy rainfall along with a thunderstorm on Thursday brought Hyderabad to its knees, inundating low-lying areas and causing huge traffic jams. The city witnessed a cloudburst like conditions with heavy downpour lasting for an hour on Thursday evening.  

Heavy rainfall lashes Hyderabad, inundates low-lying areas

Kharge, Thackeray, Pawar & Kejriwal to address INDIA bloc rally in Mumbai on May 17

Kharge, Thackeray, Pawar & Kejriwal to address INDIA bloc rally in Mumbai on May 17
Among the top leaders who will attend and address the public meeting at Bandra Kurla Complex grounds include Congress President Mallikarjun Kharge, Nationalist Congress Party (SP) President Sharad Pawar, Shiv Sena (UBT) President and ex-CM Uddhav Thackeray.

Kharge, Thackeray, Pawar & Kejriwal to address INDIA bloc rally in Mumbai on May 17

Mumbai: 2 trucks among 71 vehicles found under hoarding crash debris

Mumbai: 2 trucks among 71 vehicles found under hoarding crash debris
The civic authorities have recovered a total of 71 vehicles under the debris of the gigantic hoarding crash here in Chheda Nagar near Ghatkopar which crushed several homes and a petrol pump on May 13, killing 16 people, the BMC Disaster Control said here on Thursday. The mangled remains of the vehicles that were found include two trucks, 31 cars or other four-wheelers, 8 autorickshaws and 30 two-wheelers comprising scooters or motorcycles.  

Mumbai: 2 trucks among 71 vehicles found under hoarding crash debris

5 killed in Rajasthan road accident

5 killed in Rajasthan road accident
At least five persons were killed while five others sustained injuries as two SUVs collided head-on at Jamwa Ramgarh in Rajasthan's Jaipur district on Thursday, the police said. While four persons died on the spot, one individual succumbed to wounds at the SMS Hospital in Jaipur later, a police officer said.

5 killed in Rajasthan road accident

Assam: Fake currency notes worth Rs 1.85 lakh seized; 1 arrested

Assam: Fake currency notes worth Rs 1.85 lakh seized; 1 arrested
The police in Assam have seized fake currency notes worth Rs 1,85,000 and also arrested one person in this connection, an official said on Thursday. An official said that the Special Task Force (STF) conducted an operation based on specific input in the Puberun Path area in Guwahati.

Assam: Fake currency notes worth Rs 1.85 lakh seized; 1 arrested

CM Mann allowed use of tear gas against Punjab farmers: Sukhbir Badal

CM Mann allowed use of tear gas against Punjab farmers: Sukhbir Badal
Shiromani Akali Dal (SAD) President Sukhbir Badal on Thursday accused Punjab Chief Minister Bhagwant Mann of allowing the Centre and the Haryana government to use tear gas shells and shoot rubber bullets at farmers of Punjab to evade arrest in the multi-crore liquor scam. 

CM Mann allowed use of tear gas against Punjab farmers: Sukhbir Badal