According to reports, H. Harish Hande, Magsaysay Award-winner and Managing Director of SELCO India Pvt. Ltd., said on Wednesday that the country needed a decentralised approach to sustainable energy.
Dr. Hande said that “solar” loans to poor people had facilitated the process of financial inclusion in rural areas. Micro financing of solar products in rural areas did not help as it did not facilitate asset creation. Instead, the regional rural banks, including Netravati Grameena Bank and Malaprabha Grameena Bank, played a vital role in financing solar products, which had helped people living in rural areas.
He said that India was a paradox of an overdeveloped and an underdeveloped country. India needed a paradigm shift in the business models it followed.
There was a difference between needs and wants. Business models should be created focusing on the needs of the poor. India should be become a centre of innovation of business models which other developing countries in Africa could follow. There was no point in following the business models of Mc Donalds and Walmart. Business models should take into account the geographic location and ground realities, which differed from State to State in the country, he said.
Dr. Hande said that being educated in an IIT, he was a product of subsidy.
He opposed the view of subsidies being perceived as bad in several MBA institutes. The youth should choose a job not just on monetary consideration, but also with the intention of contributing to society, he said.