A place renowned for its sun, sand and sea is not a place one would associate with microfinance. It is one of India’s affluent states with the highest GDP per capita. Yet, despite the growing economy of the state, large segments of the population especially migrant labor continue to be excluded from its prosperity.
Agriculture offers part-time employment to a sizable portion of the populace. The fishing industry provides employment for about 40000 people, though recent official figures indicate a fall in catch and decline of this sector.
Ujjivan started its Goa operations in Vasco, its largest city. The urban poor is a mix of self-employed and salaried classes. Typical trades include cloth business, tailoring, stationery shops and housework. Many potential customers also belong to fisheries and related-businesses.
The SHG model has not been able to touch several segments of society and it is to these excluded segments that Ujjivan would like to provide financial access. Ujjivan plans to expand operations to other parts of the state in the future.