Impact Investment for Mainstream Business and Development: A Conceptual Model

Abstract

Development needs of a country like India are extremely disparate, and therefore a unifocus of financial and government agencies on investment considering economic returns shall fail to achieve overall development of the country. The gradual trickle of impact investing in India should begin to look beyond the traditional sectors like manufacturing and agriculture towards nontraditional sectors like culture and heritage which involves the affective and cognitive attributes of the community while being a part of its daily chores. If funds are judiciously channelized towards this sector, then a holistic impact on social and environmental growth can be expected along with the economic returns. Tourism and allied industries would be a direct economic beneficiary which would help generate employment, preserve tangible and intangible heritage manifestations and inculcate a sense of pride in the self and social cohesion. The current article presents two conceptual models arguing the higher efficacy of the impact investing model over traditional financing model.

Citation

Pathak, T. and Tewari, R. (2020), "Impact Investment for Mainstream Business and Development: A Conceptual Model", Crowther, D. and Seifi, S. (Ed.) Governance and Sustainability (Developments in Corporate Governance and Responsibility, Vol. 15), Emerald Publishing Limited, Leeds, pp. 61-71. https://doi.org/10.1108/S2043-052320200000015004