Charcha 2022: The power of convening

Convenings have brought people around the globe together to solve humanity’s critical problems and create a better life for everyone on the planet. Across various industries, convenings have demonstrated the value of bringing stakeholders under one roof and amplifying their knowledge, relationships and learnings through curated interactions. Powerful convenings are a hallmark of a vibrant, mature sector and play a key role in charting the course for innovation and growth in the sector.

This year, as India celebrates 75 years of independence, it is time to reflect on how far we have come in building a nation that our forefathers envisioned in 1947. Our constitution has set the ideals of justice, liberty, equality and fraternity for all citizens, and we, the people of India, have solemnly resolved to strive for these ideals. Progress in this direction has been enabled by large-scale movements such as the Green Revolution, the growth of microfinance and the White Revolution that helped usher livelihood opportunities for the masses living in abject poverty. The increase in per capita and median income helped to reduce maternal and child mortality, reduce the incidence of preventable diseases and improve life expectancy and several aspects of human development. Since the start of the millennium, India has electrified 99% of households, built infrastructure for digital access, unique digital identity, banking and direct benefit transfers, and made big strides in reducing poverty. As we recover from the setback to this progress on account of the pandemic, resilience in livelihoods is emerging as a critical focus area and priority for collective action.

Pandemic and poverty

The pandemic, global conflicts and resulting economic slowdown have pushed the most vulnerable populations back into poverty. The WEF’s Global Social Mobility Report 2020: Equality, Opportunity and a New Economic Imperative states that Indians born in low-income families would take seven generations to even reach the country’s mean income. Poverty alleviation needs to be a priority in today’s India, and the joint efforts of stakeholders across the country can accelerate the pace at which India’s poor find pathways to sustainable livelihoods and improved quality of life.

Creating economic opportunities for India’s poor is an intricate task in the face of job losses, lack of jobs, unskilled workers, and poor access to affordable finance. India’s huge economic force has the potential to drive out poverty; however, a lot of the workforce is undereducated and underemployed. A report by the International Labour Organization states that over 400 million informal workers in India may have been pushed further into poverty due to the pandemic.

A future for Young India

Global unemployment is expected to rise to 5.7% in 2022, more than the pre-covid rate of 5.4%. The Centre for Monitoring Indian Economy states that India has over 53 million unemployed people as of December 2021. Three-quarters of India’s workforce is self-employed and casual, with no social security benefits—creating opportunities for employment can safeguard their rights and provide them with a steady source of income. In India, 94% of the workforce comprised informal workers. More than 50% of its working-age population were not employed or actively searching for a job in 2019-20, and a larger number is idle and unemployed today—three years into the pandemic.

Reducing vulnerability for women

We need urgent action to empower the large numbers of informal women in the workforce in India. Over 52% of pandemic job losses were women. Over 22% of the female workforce in the unorganized sector were out of jobs post-lockdown.

India’s female labour participation rate fell to 16.1% last year and continues to slide, changing how women work. Therefore, getting women back into the workforce is a priority, as it increases female labour force participation by providing easy access to financial products and services, training in skilling, entrepreneurship, and business and financial management.

Technology-led innovation

India’s digital public goods, such as the Open Credit Enablement Network and Open Network for Digital Commerce, have the potential to generate employment and unlock economic opportunity at the population scale. India’s entrepreneurship potential has the utmost power to change how India innovates, grows, and creates jobs for the masses.

This is the essence of Charcha 2022, The/Nudge Forum’s livelihoods summit, which brings together visionary leaders and changemakers to connect and shape the future to achieve ‘resilient livelihoods for all’. This year, for the first time, Charcha 2022 is being held as an in-person physical event at India Habitat Centre in New Delhi on 4 August 2022.

Charcha is an initiative towards closing the distance between samaaj, sarkaar and bazaar, (society, government and markets) and fostering the spirit of “better, together” across all stakeholders in India’s development.

Sudha Srinivasan is the CEO of The/Nudge Centre for Social Innovation, which is organising Charcha 2022, a convening of policy, business and civil society leaders. Mint is the event’s media partner.