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Emerging Trends at The Bottom End of Pyramid
Author
Dr. H.S. Cheema and Prof. K. Jadhav
Specifications
  • ISBN 13 : 9789350519905
  • year : 2017
  • language : English
  • binding : Hardbound
Description
"The future lies with those companies who see the poor as their customers" says C.K. Prahald, one of the prominent management gurus. The rural India is no more an isolated phenomenon but a dream land of opportunities to the marketers all over world in a dismal urban scenario where markets are saturated and margins are shrinking. In an area where technology is bringing in new products every now then with strict adherence to quality, marketers all over the world are bound to go for greener pastures. What else can be more promising than rural India where 53% of FMCG and 59% of the durables are consumed by the 74.6 core rural population with its per capita income doubling by 2012! KPMG ranks India second on GRD index. India is changing very fast. We see the marks of the great change that the forces of globalization and liberation have imprinted on our cities, its people and the rural India. As the economy was poised for this giant leap, the government, boosted by overall revenue generation, growth of GDP, rapid industrialization, business expansion, the spread of education and technology went ahead boldly with various schemes benefiting the rural populace. The gradual awakening on the part of rural India and its changing face has attracted the attention of national and international industries and business houses to tap this huge untapped potential. Another reason for this important shift was the increase in the purchasing power of lower and middle class segments of the society including the rural populace. Media revolution too played a key role in synthesizing rural India with their urban counter parts. The rising aspirations, new hopes and new found confidence urged rural populace to adapt to the new life styles of the twenty first century. There were times when a number of problems were plaguing India. A country with the second largest population in the world and major chunk of the population depending on a poorly equipped agriculture, India Imported grains from major economies in the world to feed the huge population. India cut a poor figure on the world map. The same country, once viewed as huge liability for the world, is poised to become the second fastest developing economy. Experts at home and abroad are agog to see such an astounding metamorphosis. Today they are unanimous in saying that the rising clout of rural India and its huge middle class hold a great promise for Indian economy in particular and for the world economy in general.