Inside the newest outlet of No Doubt, Bhubaneswar’s fashion-forward men, can snap up stylish apparel and accessories. Jyoti Mishra, a 24-year-old entrepreneur who co-owns ‘No Doubt’ with his brother, smiles proudly as he surveys their third store. Jeans, tees, and button-downs are precisely folded and stacked to the ceiling in cubbies lining the walls. Sunglasses gleam on the cash register. Customers browse for the latest styles like they might find at H&M — except No Doubt has been in Bhubaneswar much longer, offering the products and styles favored by the local community.

Twelve years ago, Jyoti’s brother opened the first No Doubt shop, followed by a second three years later. Their newest store is their largest yet, marking an ambitious next step in their plan to expand across the city and make the business a household name.

Why did they name the store No Doubt? Because “If you want fashion for yourself, there’s no doubt you’ll find it here,” answers Jyoti.

Bhubaneswar is a growing tech city, with IT companies relocating there and drawing young talent. Ongoing infrastructure investments are connecting the emerging urban hub with the rest of the world. In short, technology is helping the city grow. Though No Doubt is a brick-and-mortar retail operation, technology is also helping ambitious young entrepreneurs like Jyoti grow their businesses.

When Jyoti and his brother wanted to open a third No Doubt outlet, they partnered with Annapurna Finance, a digitally focused microfinance service provider specializing in livelihood financing by serving India’s poorest and hardest-to-reach small businesses with its MSME (micro, small, and medium size enterprise) loan. Annapurna targets businesses and households that are often excluded by larger financial institutions, especially banks. Individual loans can support microenterprises and street vendors, while group loans enable the unbanked to start building credit and foster mutual accountability through group guarantees. Besides MSME and group loan offerings, Annapurna also provides credit products tailored to the needs of its target clientele, like improvement of water and sanitation practices, housing conditions, taking up alternate livelihoods, such as dairy development, and more. Since its founding in 2009, Annapurna has grown to serve 2.8 million clients with $1.2 billion in loans outstanding. 

A loan from Annapurna provided the working capital Jyoti needed to stock the shelves in the new location for its opening. He recalls being impressed by Annapurna’s products, their supportive staff, and the speed with which they processed his loan. Whenever he had a question, the Annapurna staff were prompt in their responses. Jyoti points to the well-stocked inventory and notes that it has been consistently replenished since the store’s opening. “As you can see, the shelves are fully stocked, which indicates that sales are performing well,” he says. He expects the business to get better as they build their reputation in the neighborhood, and to make a significantly higher profit during the festive season.

No Doubt accepts both cash and mobile payments from its customers, and Jyoti highlights the benefits of having digital payment platforms integrated with Annapurna’s mobile application. He can transfer money between the platforms to easily make their loan payments. He also likes being able to speak to Annapurna representatives face-to-face or over the phone.

Accion partners with Annapurna to reach more customers like Jyoti, who would otherwise lack access to quality financial services to support their entrepreneurial dream. Accion helped Annapurna design digital financial products that thoughtfully address the digital divide by including digital tools and channels in the lending process while ensuring that customers with limited digital capabilities and resources can access and use these products. These services help thoughtfully and sustainably address the digital divide.

August 12 is International Youth Day, when the United Nations draws attention to issues affecting the world’s growing population of young people, noting that “half of the people on our planet are 30 or younger, and this is expected to reach 57 percent by the end of 2030.” In 2024, they are celebrating the digital contributions of youth. Digital technologies are important enablers of the Sustainable Development Goals, and young people lead in digital adoption and innovation. Young innovators like Jyoti are building digital pathways towards sustainable development.