Towards a Theory of 'Smart' Social Infrastructures at Base of the Pyramid: A Study of India

Elements in the Economics of Emerging Markets

by Sandeep Goyal, Bruno S. Sergi

The primary focus of this Element is to understand the rise of smart 'social' infrastructures in BoP emerging markets like India. It has been observed that new focus areas and frontiers of global economy are taking shape where social and environmental outcomes along with economic performance are considered to be collective parameters for success or failure of the businesses. This has led to the emergence of new models of entrepreneurship, namely for-profit social businesses. These new models are driven by problem-solving social innovators who are driven by the social and environmental mission besides economic gains. Sustainability and overall success of social businesses is driven by smart social infrastructure, comprising availability of incubation ecosystem for social start-ups, access to patient capital, availability of digital ecosystem, adoption of circular business models, and focus on collaborations, partnerships and networking with diverse stakeholders.

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Published June 3, 2020

About the author

Mr. Sandeep Goyal, BA, MBA has been the Founding Chairman of Dentsu India Group at Dentsu Inc and Dentsu Communications Pvt. Ltd. since January 2011. Mr. Goyal serves as Chairman and Owner of Mogae Digital Private Limited. Mr. Goyal serves as Chief Executive Officer, Group Broadcasting of Zee Entertainment Enterprises Ltd. He served as Group Chief Executive Officer of Zee Telefilms and served as President of ad agency Rediffusion DY&R. He served as Chief Operating Officer of Rediff. He serves as Chairman Emeritus of Dentsu Marcom Pvt. Ltd. and served as its Director. He serves as Chairman at MOGAE MEDIA PVT. LTD. He served as the Chairman of the Board of Dentsu Communications Pvt. Ltd. until January 2011. He served as the Founder Chairman of Dentsu Creative Impact Pvt. Ltd and Dentsu Marcom Pvt. Ltd., until January 2011. He served as Chairman of Dentsu India Group until 2011. He serves as Vice Chairman at Mogae Consultants Pvt. Ltd. He serves as Vice Chairman of Mogae Group. He served as a Director of Mogae Digital Private Limited, Dentsu Creative Impact Pvt. Ltd., and Dentsu Marcom Pvt. Ltd. He served as a Director of Zee Entertainment Enterprises Ltd. He is a regular contributor to The Economic Times, Financial Express, Business Standard, Hindu Business Line, Business World and other publications of repute and is a much sought after speaker in industry forums. Mr. Goyal has been on the governing bodies of the Advertising Agencies Association of India (AAAI), Indian Broadcasting Foundation (IBF), Advertising Standards Council of India (ASCI), Media Research Users Council (MRUC) and the US-based National Academy of Television Arts & Sciences of (NATAS), over the years. He is the first Indian on the global jury of the Emmy Awards in 2002. Mr. Goyal holds an MBA (FMS Delhi '84) and an Honors graduate in English literature (gold medalist) from Panjab University.