Impact Investment Opportunities in India for Catalytic Investors

Sep 8, 2020 6:00 AM ET

On the surface, India’s impact investing ecosystem is thriving. There is high activity with deals happening across sectors and enterprise stages. At the same time, the narrative on impact investing has primarily been centered on capital supply and many investors in India have focused on achieving market-rate returns. This focus on returns left us wondering: are there areas currently not benefitting from this dynamic market?

To answer this question, we spoke with over twenty leading impact investors. Are there market-based models that are not being supported by investors but which could represent attractive opportunities for investors seeking to create outsized impact or be catalytic? Focusing the research on three key sectors—financial inclusion, green tech, and health care—we found exciting opportunities across innovations, early-stage businesses, and models targeting some of the most vulnerable populations in India.

This blog summarizes initial thoughts on such opportunities and seeks to paint a high-level picture of where they stand.

Read the blog >

About FSG

FSG is a mission-driven consulting firm supporting leaders in creating large-scale, lasting social change. Through customized consulting services, innovative thought leadership, and support for learning communities, we help foundations, businesses, nonprofits, and governments around the world accelerate progress by reimagining social change. Learn more at