Gutierrez says micro-finance initiative in India is "inspiring"

New Delhi, Feb 14 (UNI) Visiting US Commerce Secretary Carlos Gutierrez today praised the initiative of various players in micro-finance lending in the country, saying other countries could learn from India's experience which was "impressive" and "truly inspiring".

Mr Gutierrez, who took time out from his busy schedule to get an overview of the Indian micro-finance institutions and their contribution to self-help groups and individuals at an informal interaction at Dilli Haat, said, "By tapping into the human essence of entrepreneurship you have been truly empowering individuals. Many countries can learn from what you are doing." A visibly impressed Gutierrez met women who had benefitted from the micro-finance credit and set up handicraft enterprises.

He spent some time admiring an array of decorative items on display at the venue.

Receiving an overview of how the micro-finance story has played out in India, he was told of the growing incidence of urban poverty which now stood at 25 per cent -- on par with rural poverty. Of the 200 million households, roughly 50 million households were in urban cities.

UNI