IIC works closely with the Government of India (GOI), the policy makers, to create a favorable environment for Impact Investing in India and bring change at the grass root level.

On Advocacy front, our biggest two priorities in 2017- 2019 are:

(1) Increase flow of capital for Impact Investment and
(2) Raise awareness about Impact Investment Industry.

IIC’s current proposals under construction with the GOI are:

  • Allowing CSR (Corporate Social Responsibility) pool for Social Impact Investing
  • Proactively build bridges with Government agencies and regulators to be the go to body for policy changes and reforms.
  • Extending and widening the scope of Government’s Priority Sector Lending for including more Social Enterprises.
  • Domestic pool of capital for social impact investing.
  • Defining Impact Investing

    IIC has made recommendations to the GOI on this front.
    Read more

    WE ARE ALSO TRYING TO INFLUENCE POLICY THROUGH REPRESENTATIONS MADE TO THE GOVERNMENT OF INDIA.

    A favorable policy environment for impact investors necessarily precludes clarity on the exact structure of the investment vehicles impact investors should adopt and the tax implications of the structure. While there are no direct regulations in place for impact investors in India.
    Department/ Ministry Date Represenation
    Minister of Finance, Arun Jaitley
    19 February
    2015 Budget Representation from Impact Investors Council & Request for Meeting
    Ministry of Finance
    28 January 2015
    Note to Shri Jayant Sinha from IIC, IVCA, TiE Delhi-NCR, NASE, Indian Angel Network
    MoF, Government of India
    28 January 2015
    REPRESENTATIONS ON PROPOSED AMENDMENTS REGARDING INDIA’S “IMPACT INVESTING” INDUSTRY
    Reserve Bank of India
    Feb 2015
    Recommendation from Impact Investors Council (“IIC”) on the Reserve Bank of India (“RBI”) Report to Revisit the Existing Priority Sector Lending Guidelines.
    Ministry of Finance (MOF)
    28th January 2015
    • Recognition of SEs, Impact Investors & IIIC as a SRO.
    • SVF guidelines in AIF regulations.
    • Extending Priority Sector Guidelines (PSL)to SEs.
    • Increasing Access to ECB funding by SE.
    • National standards for Social Impact Measurement.
    Reserve Bank of India (RBI)
    15th March 2015

    • Recognition of incidental training activities as part of education.
    • Banks on-lending to HFCs and NBFCs to be treated as PSL.
    • Widen the scope of ‘healthcare facilities’ to include hospitals / related infrastructure.
    • Widen the scope of agricultural sector.
    • Inclusion of “social enterprise” in PSL.
    Securities & Exchange Board of India (SEBI)
    28th January 2015
    • Definitional Clarity of Social Venture Fund Guidelines.
    • Tax implications for Social Venture Funds.
    Department/ Ministry Date Represenation
    Niti Aayog
    6th January 2016
    • Defining SE & Impact Investing to catalyse inclusive development.
    Ministry of Finance (MOF)
    1st February 2016

    • Introducing Accredited Investor Norms for AIFs/ SVFs.
    • Charities & Public Trusts to be allowed to invest in SEs /impact funds.
    • Allowing CSR pool for social impact investing.
    • Reset minimum SVF size to INR 10 crores.
    • Defining SE & Impact Investing to catalyse inclusive development
    Department/ Ministry Date Represenation
    Ministry of Finance (MOF) 28th June 2016
    • To make India ready for Social Impact Bonds.
    • Defining SE & Impact Investing to catalyse inclusive development.
    Department/ Ministry Date Represenation

    Amar Singh Bhatia

    Ministry of Corporate Affairs
    30 Nov 2017
    Recommendation to GOI to Enable Investment of CSR Funds in SEBI- registered Category 1, Social Venture Funds

    Injeti Srinivas

    Ministry of Corporate Affairs
    30 Nov 2017
    Recommendation to GOI to Enable Investment of CSR Funds in SEBI- registered Category 1, Social Venture Funds
    Ministry of Finance
    22 November 2017
    Recommendation to GOI to Enable Investment of CSR Funds in SEBI- registered Category 1, Social Venture Funds