"Dealing with India's rural poor is traditionally the preserve of government or non-profit charities -- or rapacious money-lenders ready to step in with emergency loans at extortionate interest rates. But after two years of research in rural villages in India and Sri Lanka, Mr Hande was convinced the poor would pay for solar lights, in spite of their hefty cost, if they could obtain affordable loans with repayment schedules that reflected their cash flow. "If you create appropriate financing and appropriate products, the people will pay," he says. Much of Mr Hande's energy has gone into persuading rural loan officers in state banks to provide credit to families to buy solar lights. But he remains awed by villagers' willingness to spend the equivalent of a full year's income on his product. "Think how much time we take to make a decision to spend a whole year's salary," he says. "But the poor are willing to pay."Harish and colleagues continue to both extend their reach and bring new sustainable energy solutions to their customers!
Family Tree
1 hour ago
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