Scope for fair trade and social entrepreneurship in India

Abstract

PurposeSocial entrepreneurship will play a big role in bringing the growth to the rural masses in India and so it becomes important to study the factors, like fair trade, that will shape the social entrepreneurship philosophy.Design/methodology/approachPrimary information has been collected from National Level bodies like Fair Trade Forum – India (FTF‐I) by means of discussions and debates. Current state of fair trade penetration has been discussed with the help of a case study of an India NGO, International Resources for Fairer Trade (IRFT) which is a pioneer in this field in India.FindingsDiscussions with FTF‐I and study of IRFT revealed some surprising facts about fair trade in India – one of them being the expected size of the fair trade market in the near future. Fair trade is expected to grow exponentially in the coming years and it has the potential be an inspiration for many to enter into the social entrepreneurship world.Practical implicationsWith this study as basis, many Non Government Organizations and other bodies may find that their business models can be slightly modified to make them eligible for entering the lucrative market of fair trade.Originality/valueThis is the first study that focuses on attempting to find a link between social entrepreneurship and fair trade in India. This study will not only help current and future social entrepreneurs understand the need for fair trade and its benefits but it will also help them understand how they could become fair trade compliant if they wanted to and thus contribute to all inclusive growth.