The market opportunity for social enterprises in India is projected to reach US$ 8 billion (€ 7 billion) by next year, according to Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas as per a PIB release. Speaking at an event on September 10, 2024, the Minister highlighted the growing investor interest in India’s social enterprises. He noted that the average deal size for social impact investments has increased significantly, from US$ 7.6 million (€ 6.7 million) to US$ 17.6 million (€ 15.4 million) between 2010 and 2016.
Social Stock Exchange (SSE)
A key focus of the event was the Social Stock Exchange (SSE), a pioneering initiative by the 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. Shri Puri noted that over 20 social enterprises have already listed on the exchange.
Advancements in Disability Rights
Shri Puri also underscored the significant progress made in disability rights under the current Government. He recalled the landmark Rights of Persons with Disabilities Act, enacted in 2016, which expanded the recognized 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 upcoming Census is expected to provide a more accurate picture of the number of persons living with disabilities in the country.
Key Initiatives for Persons with Disabilities
Several key initiatives aimed at enhancing support for persons with disabilities were highlighted:
- Sugamya Bharat Campaign (Accessible India): Launched in 2015, this campaign seeks to improve accessibility across the nation.
- e-UDID Cards: Over 43 lakh Unique Disability ID cards have been issued, streamlining the identification and support of persons with disabilities.
- Skill Development Initiatives: Nearly 150,000 individuals have benefited from these initiatives.
- Harmonised Guidelines for Universal Design Space Standards: Introduced in 2019, these guidelines promote universally designed spaces, moving beyond merely barrier-free environments to greater inclusivity.
Shri Puri’s reflections on these initiatives underscore the Government’s commitment to fostering an inclusive and supportive environment for all citizens, particularly those involved in social enterprises and persons with disabilities.
