Google and Ebay invest $17 million for social development projects in India

A lot of people raise hue and cry about the how capitalism does not benefit the poor.  Here is an example of the opposite.  Suo moto, Google and Ebay have joined and are giving the Indian School of Business, Hyderabad a total of $17 million to start the social entrepreneurship project for providing solutions to the infrastructure problems in rural India.

This was because of the companies believe in social responsibilities.  I think its important for more companies to take such action.

How will it happen?

The school will develop models to provide low-cost housing, alternative energy, solutions to water and healthcare problems, and to improve the environment in rural India. Once the solutions are found, while working with 450 students in the 2009 batch, the school will pump in the money given by the US majors to set up companies to implement these projects.

I think more and more Multinationals are now investing in the society building projects in India – which in itself is a good sign as they start relating to the important of human resources in general as the population from where their future employees will come from.