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According to the National Council for Applied Economic Research (NCAER), the official collector of data on rural India, India’s rural populace is worth US$100 billion in consumer spending, making them a vital link in India’s vibrant GDP story.
Rise of a new socio-economic category called the rural rich and hence narrowing gap between the urban and rural per capita incomes. Inclusive growth is slowly happening!
The entry of major companies like Reliance, Tata, Bharti, Birla's, Wal-Mart, Woolworths and Carrefour etc. into food retail could work wonders for farmers because of the companies’ rural sourcing strategies.
Increasing awareness about the importance of education has led farmers to send their wards for better education in urban areas. This inturn lead to landing up in good employment opportunities facilitating the welfare of families back home in rural areas through income flow-back.
Rural market for FMCG goods is growing at a faster rate than Urban market, says FMCG officials.
According to T.V. Ramachandran, Director-General of the Cellular Operators Association of India, a private industry body, the construction of new cell towers is widespread in rural areas, and India's coverage area has increased three times in the past year. He said young Indians (most are under age 35) and rural people are driving cell phone growth.
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