Even though India’s seen a growth in terms of GDP and other growth indices, this growth has been far from inclusive. With 42 % of India’s population below the international poverty line, there exists a need for sustainable and scalable social innovation that can help us to internalize the externality of disparity. We feel design thinking used to tackle societal problems, along with supporting eco-preneurs, can be a paradigm shift for poverty alleviation in our country, in a way that celebrates inclusive development.
“Corporate Social Innovation” is the latest addition along the continuum of corporate social responsibility. The rise of development finance institutions along with the increasing importance of impact investing in the social development of a country is a step towards a positive future for a developing country like India.
There is a need to create symbiotic relationship between innovation and sustainability to drive growth and contribute positively to society in order to attain a holistic level of growth for a company and for a country.
A few Indian corporate giants have taken on the journey to cultivate a culture of social innovation in India. Given a web of creative social sector organizations offering innovative solutions to grass-root social problems there exists a scope for growth in this social innovation sector. In order to provide a fertile grounding for the same, the Magic 7 CSR Summit 2017, gives industry professionals and developmental experts a perfect opportunity to get insights into the next big paradigm shift that will take place in India in the times to come.