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" "Microfinance is the best example of success in the kinds of systemic institutional areas.
Ela Ramesh Bhatt (7 September 1933 – 2 November 2022) was an exemplary Indian social worker, cooperative organizer, activist and Gandhian. Her legal training and interaction with Gandhi influenced her to establish the Self-Employed Women's Association of India (SEWA) in 1972. Bhatt was a part of the international labor, cooperative, women, and micro-finance movements. She had won several prestigious national and international awards such as the Ramon Magsaysay Award (1977), Right Livelihood Award (1984) and the Padma Bhushan (1986).
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realities of our own countries rather than catching up with the western economic models, [Bhatt urged] the people to follow a principle which ensures six basic necessities- food, shelter, clothing, primary education, primary healthcare and primary banking- are available within a 100 mile distance. If these necessities are locally produced and consumed, we will have the growth of a new holistic economy.