The COVID pandemic has forced millions of daily wagers and low-wage gig workers to return to their villages stretching the frail rural livelihoods sector to its limits. This will soon force the workers to eventually return to the urban areas for work or remain in a life of perpetual penury. The rural to urban migration can be mitigated If better skilling opportunities are made accessible and contextualized to the demand in local communities.
In India, the pandemic has pushed the unemployment rate on a steep upward curve which is even more severe in tier III and rural districts, aggravated currently by rural distress and reverse migration. With increased public and private spending on social issues, it is time to change the narrative in the sector from ‘focusing on inputs’ to discussing the outcome achievement. Impact bonds will not only drive the conversation on effective resource deployment and measurements, but also catalyze private capital to solve for social challenges.
Join us to understand and help tackle the issue of rural livelihoods in India. Hear from the veterans who are investing in solutions to generate rural employment and entrepreneurship to drive the local economy in the country’s aspirational districts which have been severely impacted by the pandemic. The reverse migration offers an immense opportunity to not just build the economic and social infrastructure in rural India, but also to solve urban population pressure by balancing access to opportunities, a step towards making local districts ‘Atma-Nirbhar’ (Self Reliant).
With a special focus on empowering women by providing economic opportunities, these models show that investing in women is smart developmental economics.
- Understood the available opportunity to invest and support rural livelihoods, migrant workers, and women entrepreneurs
- Learned from successful examples of how India is leveraging social finance to become outcome-oriented (for adoption/replication)
- Geeta Goel, Country Director-India, Michael & Susan Dell Foundation
- Priyaka Dhingra, Advisor Vision Entrepreneur’s Livelihood Bond, Essilor International
- Dr Manish Kumar, MD and CEO, National Skill Development Corporation
- Sushil Ramola, Founder and Chairman, B-ABLE
- Pramod Bhasin, Co-founder, Asha Impact
- Alkesh Wadhwani, Director-India Country Office, Bill & Melinda Gates Foundation
- Jasjit Singh, Professor-Strategy, and Sustainable Development, INSEAD