The Information and Communication Technology (ICT) has been a pioneer and a powerful catalyst in addressing the needs and interest of the informal sector’s income in developing countries like India. After Globalization it has a self conscious appreciation for the ICT sector’s role in expanding Economic opportunities emerged. In the Informal Sector, a large section of people have poor livelihood choices-- in employment and entrepreneurship are constraint by a wide range of interdependent obstacles ranging from geographic isolation to market failures and political exclusion. Thus when we think about GDP growth, per capita income, reducing poverty, we should broadly about creating economic opportunities. Expanding opportunity would rightly be considered a responsibility of the Government towards their citizens. But in today’s Global market environment various risk and opportunities provide reasons for business to engage. Network effect is a crucial for productive employment, expanding business or entrepreneurship development in the Informal Sector which enables the Indian Poor to manage their assets in the ways to generate incomes and options. In Indian formal companies often fail to reach the scale or leverage of which they might be capable---often due to market failures and Governance gaps. The SME’s and Informal service sector plays a key role for bridging this gap. This paper illustrate the views how ICT help the Informal Sector to develop Human Capital i.e. improving education, skills of employees, business partners and members of the community. Secondly, building entrepreneurial capacity i.e. strengthening the small & medium scale industry association, market intermediaries, and Governments. Thirdly helping to optimize the “Rules of the Games” that is shaping the Regulatory and policy Framework and business norms that help to determine how well the economic opportunity system works and the extent to which it is inclusive of the poor.
Impact Factor
2022: 6.012
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