Banker and Ecologist Ganesan Balachander discusses the role the philanthropy has played in the development of Indian economic markets, acknowledging the rise of impact investing in recent years.

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"Finally, with the growing role of the market and a paradigm shift in the offing from a welfarist social policy to a more market-based one, there is also scope for socially responsible investing. This has been termed as impact investing, described as the emerging hybrid of philanthropy and private equity. If India can get its act together, there is no reason why we cannot have a shining India in our lifetime."

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