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Inclusive Business Growth and Sustainable Development in North East India and Papua New Guinea (PNG)
Inclusive Business Growth and Sustainable Development in North East India and Papua New Guinea (PNG)
Inclusive Business Growth and Sustainable Development in North East India and Papua New Guinea (PNG)
ABSTRACT
Inclusive business is a sustainable business model which will benefit the low-income groups by including them in its value chain which will lead to poverty reduction. In other words, inclusive business is a process of including the poor in the business process as producers, entrepreneurs or consumers.
North East India is abundant with rivers, hills and plains with a rich green cover and a wide variety of rare and exotic flora and fauna which can be a USP to attract tourists. The Tourism Industry can be a major source of revenue generation and a positive catalyst for the development of the North-East India region through an Inclusive Business Model. All-round development can only be achieved by including the local people in the mainstream society for which, Inclusive Business Growth model can be one of the avenues through which we can bring smiles to the lives of many.
Inclusion of individuals in banking business by keeping in view about Inclusive Business Growth and Sustainable Development can transform the entire process of banking business through the model of Customer to Customer (C2C) Business Model for lending advances and loans to the customers. In most of the cases when an individual is in need of advances and loans, the individual in most of the scenario approaches banks to borrow the money, but there is no assurance that the prospective borrower will receive the loan/advances from the bank. This can be a sustainable model in the Indian Banking Business where the Banking Industry can also be a part of the Inclusive Business Growth; provided RBI modifies certain norms and develops them, which can fit into the banking business as one of the new innovations in Banking Business in India.
The real gold of Papua New Guinea (PNG) is in the tourism industry which is still untapped. It is abundantly blessed with radian beauty. The creativity of the creator can only be understood once you visit Papua New Guinea; the natives of PNG who are living next to a resource are the ones best suited to protect it, which means that the tourism activities and business are developed and operated by the local community members with their consent and support. Sustainable development crucially depends on the presence of local support for a project. It has also been noted that in order for success, projects must provide direct benefits to the local community.
Key Words: Sustainable Development, Inclusive Business Growth, Tourism, Banking, Innovation, North East India, Papua New Guinea
Reference:
APA
Singha, S., & Singha, R. (2018, February). Inclusive Business Growth and Sustainable Development in North East India and Papua New Guinea (PNG). Journal of Advance Management Research, 6(2), 266-273.
MLA
Singha, Surjit, and Ranjit Singha. “Inclusive Business Growth and Sustainable Development in North East India and Papua New Guinea (PNG).” Journal of Advance Management Research, vol. 6, no. 2, Feb. 2018, pp. 266-73.
Chicago
Singha, Surjit, and Ranjit Singha. “Inclusive Business Growth and Sustainable Development in North East India and Papua
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