India’s Social Enterprises to Reach $8 Billion Market by 2025, Says Minister Hardeep Singh Puri

India’s social enterprises are growing rapidly and are expected to reach a market value of $8 billion by next year, said Shri Hardeep Singh Puri, the Minister of Petroleum and Natural Gas. He spoke about how more investors are now interested in supporting businesses that make a positive social impact.

Speaking at the 15th Social Entrepreneur of the Year Award ceremony, held by the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation, Minister Puri highlighted the increasing investment in social enterprises. He noted that the average deal size for social impact investments in India grew from $7.6 million in 2010 to $17.6 million by 2016. This shows how much people believe in the power of social businesses to improve lives.

Recognizing Social Entrepreneurs

The Social Entrepreneur of the Year Award celebrates the hard work and creativity of people who are making a difference in the lives of vulnerable and marginalized groups. Minister Puri praised the award finalists for their use of technology to help these communities, which fits well with Prime Minister Narendra Modi’s goal to deliver services more efficiently.

Social enterprises in India are playing a big role in key sectors like agriculture, healthcare, and education. These businesses are helping millions of people by creating jobs and providing services that improve their quality of life. The Minister explained that social enterprises have always been important to India’s economy, and they will continue to drive progress in the future.

Social Stock Exchange: A New Way for Social Enterprises to Grow

Minister Puri also spoke about the Social Stock Exchange (SSE), a new initiative from the Indian Government. The SSE helps social enterprises get more attention and funding by connecting them with investors who want to support positive change. It’s a platform where these businesses can showcase their work and attract the resources they need to grow.

He shared that more than 20 social enterprises are already listed on the exchange, which helps them raise funds and show their impact on society. This is a big step forward for social enterprises in India, as it gives them the tools to expand and do even more good.

Support for Persons with Disabilities

Minister Puri also highlighted the significant progress made in improving the lives of persons with disabilities. He spoke about the Rights of Persons with Disabilities Act, which was passed in 2016. This law increased the number of recognized disabilities from 7 to 21, making it easier for people with disabilities to get the help they need.

He also mentioned the Sugamya Bharat Campaign, or Accessible India, which started in 2015. This program aims to make public places and services more accessible to people with disabilities. The government has issued over 43 lakh e-UDID cards (Unique Disability ID cards) to make it easier to identify and support persons with disabilities.

Inclusive Design for a Better Future

Another important initiative Minister Puri discussed was the Harmonized Guidelines for Universal Design Space Standards, created in 2019. These guidelines ensure that public spaces are designed in a way that everyone can use them, including people with disabilities. This approach goes beyond simply removing barriers—it focuses on making places truly accessible for everyone.

Minister Puri also mentioned the government’s efforts in skill development for persons with disabilities, benefiting nearly 150,000 people. These initiatives aim to empower people with disabilities by providing them with the skills and opportunities they need to succeed.

Conclusion

India’s social enterprises are making a big impact, and the future looks bright. With the support of the Social Stock Exchange and continued government backing, these businesses are set to grow and help even more people. Minister Puri’s speech at the Social Entrepreneur of the Year Award ceremony highlighted the government’s commitment to social progress and inclusivity, showing that India is on the path to a better future for all.