In his data driven book “India Uninc”, Prof. R Vaidyanathan explains the significance of “non-corporate” sector in the Indian Economy.
Non-corporate sector, comprising of proprietorships and partnerships, is the biggest contributor to Indian GDP leading far ahead of Corporate sector, Government and Agriculture. It is also the fastest growing as “Uninc” holds the biggest share in the fastest growing service sector.
I think Marketplaces are more efficient in such decentralized systems. Platforms, enabled by internet and mobile, can scale up faster than “corporatization” of these unorganized sectors. What are these sectors? Almost everything in India is dominated by unorganized – Education, Transport, Real Estate, Restaurants, Hotels, Retail, Warehousing, Construction, Manufacturing.