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India’s garbage turns out to be Goldmine for Foreign Investors: Here is How!

Microfinance provides women from low-income groups funding for which they get comparatively quick results

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widespread garbage on the streets~pixabay
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  • Severe problem of garbage disposal and widespread scrap on the streets
  • ScrapApp,a startup aims at recycling the garbage trash from other waste
  • Startups get most of their funding from overseas  investors,the concept of social entrepreneurship still unknown to Indian population

MUMBAI, 24 SEPTEMBER, 2016: ScrapApp founded in 2015 is an app which helps the customer find out what their scrap is worth. It’s an initiative to make Indian streets clean  and bearable to walk on by recycling the garbage. Masked workers from ScrapApp daily separate the recyclable debris from the trash at DLF Mall, the largest mall in India giving the startup a kick in their business.

Vidhur Bakshi, 27, CEO of ScrapApp said that they get most of their funding from foreign investors because social entrepreneurship isn’t  yet popular in India.Other startups have mutual opinions on this matter.The reason behind this is that even if Indians do invest, they expect breakneck returns, mentioned HuffPost report.

The Scrap App. Twitter
The Scrap App. Twitter

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The Global Social Entrepreneurship Network (GSEN) and UnLtd, foundations for social entrepreneurs when carried out a poll found out that the lack of awareness of the public about social entrepreneurship and funds made it challenging for them to make the move and grow their profit,non-profit business.

Though a difficult task, but some startups which have helped people have access to water,sanitation etc have helped in easing the task of finding investors and thus more and more businesses are ready to fund this sector,a sector that which targets at bringing renaissance in the society and mindset of people,a society where recycling garbage is not included as a part of formal sector

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India comes under one of the countries(other than Canada,Singapore,The United States) where it is easiest to access investment.Experts claim that India can play a significant role in developing the domestic lives as well as use similar business ideas in bettering the social conditions in Africa.

Anurag Agrawal, CEO of Intellecap  told the Thomas Reuter’s Foundation that if an enterprise invests in a startup which is backed by a professional team and focused funds there are no chances of the investors suffering a loss. On reviewing many Indian startup Ceo’s, their views on this topic was that nations like the USA and Singapore are eager to  provide financial help to Indian startups focusing on societal development.

Experts say that there is one sector where the Indian enterprises are keen on investing- microfinance. Microfinance provides women from low-income groups funding for which they get comparatively quick results. Some of the top microfinance institutions are-Annapurna Microfinance Pvt Ltd, Arohan Financial Services Pvt Ltd etc.

Since the masses are adopting a change with growing awareness of the new generation so is the perspective of the investors who are gradually wishing to help the Indian startups who are trying their best to light a candle  for a better society.

–  prepared by Ashwati Menon of NewsGram. Twitter: @Ashu_phoebe

 

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Japan International Cooperation Agency (JICA) to Fund Himachal For Biodiversity Conservation

Himachal Pradesh will manage and improve its forest ecosystems under a Rs 800-crore project funded by the Japan International Cooperation Agency (JICA), official sources said on Sunday.

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The 10-year project on 'Improvement of Himachal Pradesh Forest Ecosystems Management and Livelihoods', which began this fiscal, will be implemented in 61 ranges. Wikimedia Commons

Himachal Pradesh will manage and improve its forest ecosystems under a Rs 800-crore project funded by the Japan International Cooperation Agency (JICA), official sources said on Sunday.

JICA-India official Katsuo Matsumoto will visit the state capital on Monday for the launch workshop of the project, where Chief Minister Jai Ram Thakur will also be present.

The 10-year project on ‘Improvement of Himachal Pradesh Forest Ecosystems Management and Livelihoods’, which began this fiscal, will be implemented in 61 ranges in seven forest circles in Kinnaur, Shimla, Bilaspur, Mandi, Kullu and Lahaul-Spiti districts, an official spokesperson told IANS.

He said a loan agreement for the project was signed in Tokyo, Japan, on March 29 in the presence of External Affairs Minister Sushma Swaraj.

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JICA headquarters, Osaka,Japan. Wikimedia Commons

The project provides for 80 per cent loan and the remaining amount will be state equity. Of the loan component, 90 per cent will be a grant from the Centre.

Also Read-Conserving Pandas can Enrich Biodiversity along with Fighting Climate Changes: Study

The project aims at sustainable management of forest ecosystems, biodiversity conservation, livelihood improvement support and strengthening institutional capacity.

The JICA is already providing a Rs 321 crore assistance to the state under a crop diversification project since 2011 for bettering the socio economic condition of farmers in Mandi, Kangra, Hamirpur, Bilaspur and Una districts. (IANS)