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

Beyond Politics: PM Modi's Gurdwara visit signals his deep respect for Sikh culture, values

Beyond Politics: PM Modi's Gurdwara visit signals his deep respect for Sikh culture, values
Prime Minister Narendra Modi’s visit to Takhat Shri Harimandir Ji Patna Sahib, while on a campaign trail in Patna on Monday, stands as a testament to his multifaceted engagement with the Sikh community and his profound respect for Sikh culture and traditions. The significance of this visit goes beyond mere symbolism; it reflects a deeper connection between PM Modi and the Sikh ethos.

Beyond Politics: PM Modi's Gurdwara visit signals his deep respect for Sikh culture, values

Mumbai dust-storm tragedy: 8 killed, 63 hurt as hoarding, vertical steel parking lot crash

Mumbai dust-storm tragedy: 8 killed, 63 hurt as hoarding, vertical steel parking lot crash
Eight persons were killed and 63 others injured in two separate incidents -- a gigantic hoarding in Ghatkopar and a vertical steel parking lot in Wadala -- crashing in Mumbai, in the aftermath of a massive dust-storm that shrouded the city for over two hours, following by unseasonal rains, the BMC Disaster Control said here on Monday. 

Mumbai dust-storm tragedy: 8 killed, 63 hurt as hoarding, vertical steel parking lot crash

Over Rs 79 lakh cash seized from govt employee's residence in Guwahati

Over Rs 79 lakh cash seized from govt employee's residence in Guwahati
The vigilance and anti-corruption wing of the Assam government has seized cash amounting to more than Rs 79 lakh from the residence of a government employee after he was caught red-handed while accepting a bribe. The cash was seized from the residence of Jayanta Goswami, an executive engineer with the Public Health and Engineering (PHE) department in the North Lakhimpur Circle, who has been arrested.

Over Rs 79 lakh cash seized from govt employee's residence in Guwahati

Will not allow anyone to harm Constitution: Rahul Gandhi

Will not allow anyone to harm Constitution: Rahul Gandhi
Alleging that the BJP wants to finish off the Constitution, Congress leader Rahul Gandhi on Thursday vowed to protect it.

Will not allow anyone to harm Constitution: Rahul Gandhi

Odisha: BJD releases election manifesto with focus on youth & farmers

Odisha: BJD releases election manifesto with focus on youth & farmers
The ruling Biju Janata Dal (BJD) in Odisha on Thursday released its poll manifesto for the upcoming elections in Odisha.

Odisha: BJD releases election manifesto with focus on youth & farmers

India cannot depend on other countries for its security: Defence Secretary

India cannot depend on other countries for its security: Defence Secretary
India cannot depend on other countries for its security and safeguarding national interests, Defence Secretary Giridhar Aramane said on Thursday.  

India cannot depend on other countries for its security: Defence Secretary