The Shared Value Summit 2016, organised recently, presented an interactive learning platform for discussion about the opportunities and challenges involved in building business models that have a shared value dimension.

Bibek Debroy, member, NITI Aayog, shared his views on development and governance in India. Citing examples from history, he explained that broader participation from citizens is always needed for governance to improve.

For instance, the Consumer Protection Act, 1986, was an outcome of repeated demands from NGOs and civil society.

Likewise, even though it is the job of NITI Aayog to improve entrepreneurship across India, the government cannot do it alone. An inclusive approach involving all stakeholders is needed, if the business environment in India has to change.

Justin Bakule, Executive Director, Shared Value Initiative, followed up these arguments with a strong message to a roomful of business leaders that they had a huge opportunity of taking up leadership and bringing about social change in uncertain times.

Prof Anil K Gupta from IIM-Ahmedabad pointed out that creative communities and hungry corporations drive the world. He expressed surprise over the fact that Indian companies have grown less hungry for frugal innovation with time, in contrast to major MNCs.

There was a general consensus among all stakeholders that partnerships and collaborations are the key to addressing social issues while generating economic returns at the same time.

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