[Applause] after 39 years in the corporate sector
after 39 years in the corporate sector
after 39 years in the corporate sector two years ago I decided to move to the
two years ago I decided to move to the
two years ago I decided to move to the development sector and even as I look
development sector and even as I look
development sector and even as I look back at my journey of 31 years all that
back at my journey of 31 years all that
back at my journey of 31 years all that I can say is that it has been a very
I can say is that it has been a very
I can say is that it has been a very very eventful journey starting in the
very eventful journey starting in the
very eventful journey starting in the area of automobile engineering I moved
area of automobile engineering I moved
area of automobile engineering I moved into commercial banking after an MBA in
into commercial banking after an MBA in
into commercial banking after an MBA in finance moved thereafter to project
finance moved thereafter to project
finance moved thereafter to project finance and development banking spent 17
finance and development banking spent 17
finance and development banking spent 17 years in the area of infrastructure and
years in the area of infrastructure and
years in the area of infrastructure and then moved into working with communities
then moved into working with communities
then moved into working with communities in some sense there has been a natural
in some sense there has been a natural
in some sense there has been a natural progression in my own work in having
progression in my own work in having
progression in my own work in having moved from financing to development this
moved from financing to development this
moved from financing to development this also was because in many ways in the
also was because in many ways in the
also was because in many ways in the choices that I made I was motivated by a
choices that I made I was motivated by a
choices that I made I was motivated by a desire to in some sense serve a larger
desire to in some sense serve a larger
desire to in some sense serve a larger purpose than my own carrier aspirations
purpose than my own carrier aspirations
purpose than my own carrier aspirations and also ask this question what
and also ask this question what
and also ask this question what difference do you really bring to the
difference do you really bring to the
difference do you really bring to the country and society that you live in I
country and society that you live in I
country and society that you live in I have had the experience and the
have had the experience and the
have had the experience and the opportunity to work with various
opportunity to work with various
opportunity to work with various innovative ideas in the area of
innovative ideas in the area of
innovative ideas in the area of infrastructure public-private
infrastructure public-private
infrastructure public-private partnerships in particular but many of
partnerships in particular but many of
partnerships in particular but many of them are examples that are big I thought
them are examples that are big I thought
them are examples that are big I thought for an event like this it would be very
for an event like this it would be very
for an event like this it would be very useful to look at a small innovative
useful to look at a small innovative
useful to look at a small innovative example in the area of infrastructure
example in the area of infrastructure
example in the area of infrastructure two examples actually which made a
two examples actually which made a
two examples actually which made a difference and continue to make a
difference and continue to make a
difference and continue to make a difference to two small communities in
difference to two small communities in
difference to two small communities in what is usually a more excluded region
what is usually a more excluded region
what is usually a more excluded region of our country which is the Northeast
of our country which is the Northeast
of our country which is the Northeast and this is something that was possible
and this is something that was possible
and this is something that was possible when I was CEO of idfc foundation and I
when I was CEO of idfc foundation and I
when I was CEO of idfc foundation and I think it resonates very well with the
think it resonates very well with the
think it resonates very well with the theme imbibe innovate and impart it
theme imbibe innovate and impart it
theme imbibe innovate and impart it would be very presumptuous on my part to
would be very presumptuous on my part to
would be very presumptuous on my part to think that all this innovation was
think that all this innovation was
think that all this innovation was because of me and I must acknowledge
because of me and I must acknowledge
because of me and I must acknowledge publicly the contribution of two of my
publicly the contribution of two of my
publicly the contribution of two of my younger colleagues dr. Sampath Basu and
younger colleagues dr. Sampath Basu and
younger colleagues dr. Sampath Basu and Samantha Sharma who worked very hard to
Samantha Sharma who worked very hard to
Samantha Sharma who worked very hard to make these possible now the fact is that
make these possible now the fact is that
make these possible now the fact is that the needs of infrastructure in India are
the needs of infrastructure in India are
the needs of infrastructure in India are huge they are humongous and despite the
huge they are humongous and despite the
huge they are humongous and despite the investments that have been made in the
investments that have been made in the
investments that have been made in the last two two-and-a-half decades the
last two two-and-a-half decades the
last two two-and-a-half decades the needs continue to be big more so the
needs continue to be big more so the
needs continue to be big more so the needs of infrastructure are very high
needs of infrastructure are very high
needs of infrastructure are very high particularly in areas that affect the
particularly in areas that affect the
particularly in areas that affect the poor inclusive infrastructure as it is
poor inclusive infrastructure as it is
poor inclusive infrastructure as it is called so whether it is public transport
called so whether it is public transport
called so whether it is public transport whether it is water and sanitation
whether it is water and sanitation
whether it is water and sanitation whether it’s solid waste management
whether it’s solid waste management
whether it’s solid waste management whether it is social infrastructure
whether it is social infrastructure
whether it is social infrastructure health care education whether it’s
health care education whether it’s
health care education whether it’s village roads whether it’s village
village roads whether it’s village
village roads whether it’s village electrification these are areas that
electrification these are areas that
electrification these are areas that continue to need investment and continue
continue to need investment and continue
continue to need investment and continue to need attention and would do so for a
to need attention and would do so for a
to need attention and would do so for a long time to come so the story that I
long time to come so the story that I
long time to come so the story that I will tell you is about a small
will tell you is about a small
will tell you is about a small innovation which to my mind has made a
innovation which to my mind has made a
innovation which to my mind has made a difference in one of the northeastern
difference in one of the northeastern
difference in one of the northeastern states in our country so the picture
states in our country so the picture
states in our country so the picture that you have on the screen is that of a
that you have on the screen is that of a
that you have on the screen is that of a village and this village is the village
village and this village is the village
village and this village is the village of Malling Nong which is in East Cassie
of Malling Nong which is in East Cassie
of Malling Nong which is in East Cassie hills in Meghalaya 60 kilometers away
hills in Meghalaya 60 kilometers away
hills in Meghalaya 60 kilometers away from chillon quit remotely located not
from chillon quit remotely located not
from chillon quit remotely located not very easily accessible a small village
very easily accessible a small village
very easily accessible a small village with 95 households and 500 people it has
with 95 households and 500 people it has
with 95 households and 500 people it has a history of agriculture and
a history of agriculture and
a history of agriculture and horticulture and I must tell you that
horticulture and I must tell you that
horticulture and I must tell you that some of the best pineapples in this
some of the best pineapples in this
some of the best pineapples in this country are grown in this village it
country are grown in this village it
country are grown in this village it also had a culture of keeping the
also had a culture of keeping the
also had a culture of keeping the village clean so much so that when a
village clean so much so that when a
village clean so much so that when a magazine discover India actually
magazine discover India actually
magazine discover India actually surveyed several villages in the
surveyed several villages in the
surveyed several villages in the northeast they declared it as Asia’s
northeast they declared it as Asia’s
northeast they declared it as Asia’s cleanest village and that propelled this
cleanest village and that propelled this
cleanest village and that propelled this village from relative obscurity to a
village from relative obscurity to a
village from relative obscurity to a place of prominence so much so that year
place of prominence so much so that year
place of prominence so much so that year after year there were almost 200 to 500
after year there were almost 200 to 500
after year there were almost 200 to 500 people depending on the season actually
people depending on the season actually
people depending on the season actually visiting this village what really
visiting this village what really
visiting this village what really happened was that gradually the earnings
happened was that gradually the earnings
happened was that gradually the earnings from tourism also started improving and
from tourism also started improving and
from tourism also started improving and people’s aspirations improved with
people’s aspirations improved with
people’s aspirations improved with increasing tourism in the will
increasing tourism in the will
increasing tourism in the will it had electricity but as with often
it had electricity but as with often
it had electricity but as with often electricity connections in remote places
electricity connections in remote places
electricity connections in remote places whenever there was a problem with the
whenever there was a problem with the
whenever there was a problem with the distribution system getting it repaired
distribution system getting it repaired
distribution system getting it repaired or maintained in time was often a
or maintained in time was often a
or maintained in time was often a challenge more critical was the fact
challenge more critical was the fact
challenge more critical was the fact that it lacked public spaces so during
that it lacked public spaces so during
that it lacked public spaces so during this period when tourism grew in this
this period when tourism grew in this
this period when tourism grew in this place what really happened was that
place what really happened was that
place what really happened was that people started adding little rooms to
people started adding little rooms to
people started adding little rooms to their houses which during the evening
their houses which during the evening
their houses which during the evening would be their dining rooms as well but
would be their dining rooms as well but
would be their dining rooms as well but during the day served as places where
during the day served as places where
during the day served as places where beverages and food was served and so
beverages and food was served and so
beverages and food was served and so gradually this helped them in promoting
gradually this helped them in promoting
gradually this helped them in promoting the local economy what also happened was
the local economy what also happened was
the local economy what also happened was that they added a bedroom to their homes
that they added a bedroom to their homes
that they added a bedroom to their homes and what that did was that they were
and what that did was that they were
and what that did was that they were trying to promote the whole idea of home
trying to promote the whole idea of home
trying to promote the whole idea of home stays by tourists but one thing that the
stays by tourists but one thing that the
stays by tourists but one thing that the village lacked was good illumination of
village lacked was good illumination of
village lacked was good illumination of public spaces at night and they tried
public spaces at night and they tried
public spaces at night and they tried for several years to try and get funding
for several years to try and get funding
for several years to try and get funding to create electricity which would
to create electricity which would
to create electricity which would illuminate public spaces at night so
illuminate public spaces at night so
illuminate public spaces at night so that the experience of people in the
that the experience of people in the
that the experience of people in the village would improve it was at this
village would improve it was at this
village would improve it was at this time that we were advising the
time that we were advising the
time that we were advising the government omegle and we were presented
government omegle and we were presented
government omegle and we were presented with a few problems of this kind and one
with a few problems of this kind and one
with a few problems of this kind and one of the solutions that emerged was why
of the solutions that emerged was why
of the solutions that emerged was why not use renewable energy and why not use
not use renewable energy and why not use
not use renewable energy and why not use solar lighting as a solution for the
solar lighting as a solution for the
solar lighting as a solution for the village after looking at different
village after looking at different
village after looking at different possibilities and different sources of
possibilities and different sources of
possibilities and different sources of funding we came to the conclusion that
funding we came to the conclusion that
funding we came to the conclusion that the quickest way to implement a project
the quickest way to implement a project
the quickest way to implement a project of this kind was to use our own CSR
of this kind was to use our own CSR
of this kind was to use our own CSR funding and that is what we did as idfc
funding and that is what we did as idfc
funding and that is what we did as idfc to use our own CSR funding for this
to use our own CSR funding for this
to use our own CSR funding for this pilot project what we thought would
pilot project what we thought would
pilot project what we thought would happen is that this would help to create
happen is that this would help to create
happen is that this would help to create an effective model which could be scaled
an effective model which could be scaled
an effective model which could be scaled up thereafter in doing so we said that
up thereafter in doing so we said that
up thereafter in doing so we said that there would have to be a certain number
there would have to be a certain number
there would have to be a certain number of minimum conditions one the land
of minimum conditions one the land
of minimum conditions one the land should be given by the community free of
should be given by the community free of
should be given by the community free of cost they should bring in at least 10%
cost they should bring in at least 10%
cost they should bring in at least 10% of the project cost
of the project cost
of the project cost not in cash but in kind through the
not in cash but in kind through the
not in cash but in kind through the labor component that is required for the
labor component that is required for the
labor component that is required for the project
project
project it was insisted that they must take on
it was insisted that they must take on
it was insisted that they must take on the operations and maintenance
the operations and maintenance
the operations and maintenance responsibilities open a separate bank
responsibilities open a separate bank
responsibilities open a separate bank account for the project set up a project
account for the project set up a project
account for the project set up a project implementation committee with
implementation committee with
implementation committee with representatives of the government the
representatives of the government the
representatives of the government the community and with idfc Foundation and
community and with idfc Foundation and
community and with idfc Foundation and finally have the entire selection
finally have the entire selection
finally have the entire selection process overseen by this committee that
process overseen by this committee that
process overseen by this committee that was agreed to and we went ahead with the
was agreed to and we went ahead with the
was agreed to and we went ahead with the project
project
project now as idfc and I DFC Foundation we had
now as idfc and I DFC Foundation we had
now as idfc and I DFC Foundation we had handled several several large projects
handled several several large projects
handled several several large projects hundreds of crores sometimes a few
hundreds of crores sometimes a few
hundreds of crores sometimes a few thousand crores in size in terms of
thousand crores in size in terms of
thousand crores in size in terms of project development and the managing the
project development and the managing the
project development and the managing the entire process of procurement on behalf
entire process of procurement on behalf
entire process of procurement on behalf of the government we decided that the
of the government we decided that the
of the government we decided that the same level of rigor that we normally
same level of rigor that we normally
same level of rigor that we normally brought to large projects should equally
brought to large projects should equally
brought to large projects should equally be brought to the smaller projects and
be brought to the smaller projects and
be brought to the smaller projects and that is what we did we made sure that
that is what we did we made sure that
that is what we did we made sure that there was a very transparent process of
there was a very transparent process of
there was a very transparent process of selection we made sure that while the
selection we made sure that while the
selection we made sure that while the rigor in project development was high we
rigor in project development was high we
rigor in project development was high we would pick up specifications which were
would pick up specifications which were
would pick up specifications which were already there through the Emma nari to
already there through the Emma nari to
already there through the Emma nari to make the process much simpler we used
make the process much simpler we used
make the process much simpler we used empaneled suppliers who are already in
empaneled suppliers who are already in
empaneled suppliers who are already in panel with the Ministry of non-renewable
panel with the Ministry of non-renewable
panel with the Ministry of non-renewable energy as part of this process and so we
energy as part of this process and so we
energy as part of this process and so we found that at the end of it what we
found that at the end of it what we
found that at the end of it what we reached was a very very effective
reached was a very very effective
reached was a very very effective cost-effective way of implementing the
cost-effective way of implementing the
cost-effective way of implementing the project where the supplier finally was
project where the supplier finally was
project where the supplier finally was able to supply lights at close to rupees
able to supply lights at close to rupees
able to supply lights at close to rupees twenty-five thousand seven hundred
twenty-five thousand seven hundred
twenty-five thousand seven hundred perlite which was among the least that
perlite which was among the least that
perlite which was among the least that you could get for projects in that area
you could get for projects in that area
you could get for projects in that area it was also slated that delivery would
it was also slated that delivery would
it was also slated that delivery would be made in a period of six weeks and a
be made in a period of six weeks and a
be made in a period of six weeks and a two year warranty
two year warranty
two year warranty accompanied the entire program all this
accompanied the entire program all this
accompanied the entire program all this actually resulted in a very robust kind
actually resulted in a very robust kind
actually resulted in a very robust kind of project structure and delivery that
of project structure and delivery that
of project structure and delivery that was possible equally important was that
was possible equally important was that
was possible equally important was that some of the village youth were trained
some of the village youth were trained
some of the village youth were trained to implement this project and so this is
to implement this project and so this is
to implement this project and so this is a picture of how the village and the
a picture of how the village and the
a picture of how the village and the community together
community together
community together engaged in the implementation of the
engaged in the implementation of the
engaged in the implementation of the project what did the project achieve
project what did the project achieve
project what did the project achieve from tourist arrivals of 200 to 500 per
from tourist arrivals of 200 to 500 per
from tourist arrivals of 200 to 500 per day a few months after the project was
day a few months after the project was
day a few months after the project was implemented it was implemented in May
implemented it was implemented in May
implemented it was implemented in May 2015 by July they were almost 1500
2015 by July they were almost 1500
2015 by July they were almost 1500 visitors visiting the village from a
visitors visiting the village from a
visitors visiting the village from a level of 80 cars a day it had gone up to
level of 80 cars a day it had gone up to
level of 80 cars a day it had gone up to 250 parking fees had gone up from 4,000
250 parking fees had gone up from 4,000
250 parking fees had gone up from 4,000 to 12,500 all in all as this would very
to 12,500 all in all as this would very
to 12,500 all in all as this would very very clearly show that incomes went up
very clearly show that incomes went up
very clearly show that incomes went up and that the economic resilience and the
and that the economic resilience and the
and that the economic resilience and the economic condition of the village
economic condition of the village
economic condition of the village improved very significantly now this was
improved very significantly now this was
improved very significantly now this was something that the government was very
something that the government was very
something that the government was very clearly very happy about and they wanted
clearly very happy about and they wanted
clearly very happy about and they wanted to implement it in five more villages
to implement it in five more villages
to implement it in five more villages but when this story got known and
but when this story got known and
but when this story got known and understood what actually happened was
understood what actually happened was
understood what actually happened was that with funding from the IR EDA which
that with funding from the IR EDA which
that with funding from the IR EDA which is the National Authority for renewable
is the National Authority for renewable
is the National Authority for renewable energy 18 villages in four districts for
energy 18 villages in four districts for
energy 18 villages in four districts for a total of 360 streetlights got
a total of 360 streetlights got
a total of 360 streetlights got implemented and we were able during this
implemented and we were able during this
implemented and we were able during this period to bring down the implementation
period to bring down the implementation
period to bring down the implementation by so significant an amount that the
by so significant an amount that the
by so significant an amount that the project implementation was completed in
project implementation was completed in
project implementation was completed in less than a month so this is indeed for
less than a month so this is indeed for
less than a month so this is indeed for many of us it was an inspiring story and
many of us it was an inspiring story and
many of us it was an inspiring story and eye-opener of how rigorous work done and
eye-opener of how rigorous work done and
eye-opener of how rigorous work done and done very very transparently and by
done very very transparently and by
done very very transparently and by involving the community could result in
involving the community could result in
involving the community could result in change and transformation so renewable
change and transformation so renewable
change and transformation so renewable energy can in many ways transform places
energy can in many ways transform places
energy can in many ways transform places it can transform communities equally
it can transform communities equally
it can transform communities equally creative use and creative selection of
creative use and creative selection of
creative use and creative selection of the right technology for the right users
the right technology for the right users
the right technology for the right users can actually make a difference and
can actually make a difference and
can actually make a difference and that’s what this really told us so what
that’s what this really told us so what
that’s what this really told us so what are the lessons in all this for us how
are the lessons in all this for us how
are the lessons in all this for us how do we bring it to scale it is very
do we bring it to scale it is very
do we bring it to scale it is very important that much of what we do we
important that much of what we do we
important that much of what we do we realize should not just remain as
realize should not just remain as
realize should not just remain as creative solutions and creative output
creative solutions and creative output
creative solutions and creative output unless they are brought to scale
unless they are brought to scale
unless they are brought to scale they cannot be truly classified as
they cannot be truly classified as
they cannot be truly classified as innovation the lessons that we learned
innovation the lessons that we learned
innovation the lessons that we learned was that even if the projects are small
was that even if the projects are small
was that even if the projects are small as long as they are owned and driven by
as long as they are owned and driven by
as long as they are owned and driven by the community they have a very short
the community they have a very short
the community they have a very short answer of success projects have to be
answer of success projects have to be
answer of success projects have to be demand driven not supply created the
demand driven not supply created the
demand driven not supply created the minute it is demand driven it is based
minute it is demand driven it is based
minute it is demand driven it is based on the actual need and uses that the
on the actual need and uses that the
on the actual need and uses that the community has we also realize that we
community has we also realize that we
community has we also realize that we should just because it is small not
should just because it is small not
should just because it is small not sacrifice rigor and professionalism for
sacrifice rigor and professionalism for
sacrifice rigor and professionalism for the sake of expediency and all in all
the sake of expediency and all in all
the sake of expediency and all in all the involvement of all stakeholders in
the involvement of all stakeholders in
the involvement of all stakeholders in the process the government the community
the process the government the community
the process the government the community the funders the suppliers working
the funders the suppliers working
the funders the suppliers working together in a cooperative endeavor is
together in a cooperative endeavor is
together in a cooperative endeavor is important how does one reach scale we
important how does one reach scale we
important how does one reach scale we reach scale when we move from just
reach scale when we move from just
reach scale when we move from just creating individual livelihoods to
creating individual livelihoods to
creating individual livelihoods to creating enterprise asking the question
creating enterprise asking the question
creating enterprise asking the question what is it that we can do to harness the
what is it that we can do to harness the
what is it that we can do to harness the creative energy particularly in youth in
creative energy particularly in youth in
creative energy particularly in youth in many of these places that we stay what
many of these places that we stay what
many of these places that we stay what are the organization structures what are
are the organization structures what are
are the organization structures what are the business models which will allow for
the business models which will allow for
the business models which will allow for this scaling up important to remember
this scaling up important to remember
this scaling up important to remember that no size fits all and so we clearly
that no size fits all and so we clearly
that no size fits all and so we clearly have to find contextual solutions for
have to find contextual solutions for
have to find contextual solutions for the need that we find in communities we
the need that we find in communities we
the need that we find in communities we also realize that for areas like
also realize that for areas like
also realize that for areas like agriculture and horticulture another
agriculture and horticulture another
agriculture and horticulture another very important area which in the future
very important area which in the future
very important area which in the future would really find a lot of application
would really find a lot of application
would really find a lot of application is the area of solar cooling solar
is the area of solar cooling solar
is the area of solar cooling solar cooling for storage of produce and later
cooling for storage of produce and later
cooling for storage of produce and later on probably solar transportation to make
on probably solar transportation to make
on probably solar transportation to make sure that products can reach markets
sure that products can reach markets
sure that products can reach markets very critical for far-flung areas
very critical for far-flung areas
very critical for far-flung areas relatively not well-connected areas
relatively not well-connected areas
relatively not well-connected areas particularly in the Northeast region as
particularly in the Northeast region as
particularly in the Northeast region as well as other hilly regions in this
well as other hilly regions in this
well as other hilly regions in this country we also realize that as we bring
country we also realize that as we bring
country we also realize that as we bring scale to a lot of these applications
scale to a lot of these applications
scale to a lot of these applications costs get driven downward today in the
costs get driven downward today in the
costs get driven downward today in the electricity sector the cost of
electricity sector the cost of
electricity sector the cost of generating power from renewable energy
generating power from renewable energy
generating power from renewable energy sources has reached grid parity with
sources has reached grid parity with
sources has reached grid parity with that of non renewable energy or more
that of non renewable energy or more
that of non renewable energy or more conventional energy sources that really
conventional energy sources that really
conventional energy sources that really means that with increasing applications
means that with increasing applications
means that with increasing applications we can make transformative differences
we can make transformative differences
we can make transformative differences through the sensible use of renewable
through the sensible use of renewable
through the sensible use of renewable energy which is an essential part of
energy which is an essential part of
energy which is an essential part of infrastructure creation in this country
infrastructure creation in this country
infrastructure creation in this country last but not the least all these
last but not the least all these
last but not the least all these projects all innovation because by
projects all innovation because by
projects all innovation because by nature they are disruptive require
nature they are disruptive require
nature they are disruptive require champions they require champions at all
champions they require champions at all
champions they require champions at all levels in the community in the
levels in the community in the
levels in the community in the government people who can fund them
government people who can fund them
government people who can fund them people who are willing to take risks and
people who are willing to take risks and
people who are willing to take risks and the challenges in finding the right
the challenges in finding the right
the challenges in finding the right champions to make sure that these
champions to make sure that these
champions to make sure that these innovations can happen what they can do
innovations can happen what they can do
innovations can happen what they can do though is they can certainly help
though is they can certainly help
though is they can certainly help excluded and remote communities make
excluded and remote communities make
excluded and remote communities make sure that from an economic point of view
sure that from an economic point of view
sure that from an economic point of view they find growth and resilience in the
they find growth and resilience in the
they find growth and resilience in the way they are I hope that as all of us go
way they are I hope that as all of us go
way they are I hope that as all of us go on with our lives each of us would be
on with our lives each of us would be
on with our lives each of us would be champions of innovation wherever we are
champions of innovation wherever we are
champions of innovation wherever we are and that all of us in our own ways can
and that all of us in our own ways can
and that all of us in our own ways can move from just doing isolated examples
move from just doing isolated examples
move from just doing isolated examples of innovation to creating a movement of
of innovation to creating a movement of
of innovation to creating a movement of positive innovation which will result in
positive innovation which will result in
positive innovation which will result in positive transformation of communities
positive transformation of communities
positive transformation of communities and society if that happens this
and society if that happens this
and society if that happens this conference objectives would have
conference objectives would have
conference objectives would have succeeded thank you
succeeded thank you
succeeded thank you [Applause]
”
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