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[1M04] The Role of Private Sector toward Poverty Reduction
- Analysis of Case Study in India -
Keywords:poverty reduction, private sector, India, SDGs
SDGs underscore the role of business not to be just transformational for its own growth, but for addressing a country’s overall development strategies. Although the SDG framework gives an overarching and a large perspective, it is influenced by micro-level action on the ground. It is with this aim of creating the discourse around corporate role for achieving SDGs, as well as for designing policies that would empower the corporate sector’s commitment to delivering, SDGs were planned.
To support the 2030 Agenda and SDGs, the corporate sector with its comparable and multi-pronged approach can address the following issues: (1) Alleviating national and global crisis – the private sector has a greater than ever role to play in eliminating or alleviating the global and national crisis. (2) Creating market opportunities for the private sector – involvement in the process of accomplishing SDGs will bring them long-term and sustainable mileage through doing sustainable business and building markets. (3) Building sustainable business models – private players who get engaged with SDGs will adhere to the new national and international policies. (4) Streamlining corporate governance/Corporate Social Responsibility (CSR) with SDGs – corporates are substantially doing enough to meet their CSR requirements in direct or indirect form by aiding and providing education, sanitation, environment, public health, etc.
This research attempts to analyze how private sectors in India are addressing the above issues.
To support the 2030 Agenda and SDGs, the corporate sector with its comparable and multi-pronged approach can address the following issues: (1) Alleviating national and global crisis – the private sector has a greater than ever role to play in eliminating or alleviating the global and national crisis. (2) Creating market opportunities for the private sector – involvement in the process of accomplishing SDGs will bring them long-term and sustainable mileage through doing sustainable business and building markets. (3) Building sustainable business models – private players who get engaged with SDGs will adhere to the new national and international policies. (4) Streamlining corporate governance/Corporate Social Responsibility (CSR) with SDGs – corporates are substantially doing enough to meet their CSR requirements in direct or indirect form by aiding and providing education, sanitation, environment, public health, etc.
This research attempts to analyze how private sectors in India are addressing the above issues.
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