India has a growing impact investing industry, but can it scale?
10 Jan 2019 6:52 AM GMT
After the considerable growth of India's impact investing industry, and even as it is aided by shifting norms, it must still overcome challenges and improve its infrastructure to scale, investors tell Devex.
- The growth is making it possible for new groups of people to access information, jobs, education, transportation, financial services, and health care — creating both business and investment opportunities, according to Roopa Kudva , managing director of Omidyar Network  India Advisors.
- Growing access to mobile phones is one of the driving forces behind India’s social impact businesses and is giving rise to the growth of impact investing in the country, said Kudva, who is also a partner at the Omidyar Network.
- Impact investing enables the growth of entrepreneurship, but a strong ecosystem for social entrepreneurs is also critical to the growth of the impact investing industry.
- Shifting culture, growing capital markets, and the rise of mobile phones are all changing the impact investing landscape in India, creating more opportunities as awareness grows.
- With the passage of that law, philanthropists began taking a more strategic approach and began realizing impact investing could be a part of their work, Kudva said.
- Platforms including the Global Steering Group for Impact Investment  and the Impact Investing Council are important to bring different actors together, share lessons, influence policy, and help to spur growth in the industry, Kudva said.
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