Abstract
The scope of rural marketing in India is undergoing an evolutionary change. When we look at the human dimensions of economic growth and development our attention is immediately drawn towards India's rural areas. Nearly three fourths of its people live there and about a third of its Gross Domestic Product (GDP) is rural in origin. In this scenario, the paper tries to assess the reasons thereof for this fruition in the scope of rural marketing, which is just not a theoretical presentation but also a practical prescription for conglomerates which would venture into this developing arena for a profitable return.
Highlights
Today in the era of Globalization, the Indian market is undergoing a tremendous revolution
According to a recent Technopak report, rural Indian economy is highly supported by increasing disposable income, Government initiatives and schemes and favourable demographics
The rural segment of the Indian economy is growing at a pace of 8-10 per cent per annum and is anticipated to add new consumption of US$ 90 billon-100 billion over 2012-2017 to the current base of US$ 240 billion-250 billion
Summary
Today in the era of Globalization, the Indian market is undergoing a tremendous revolution. It is become a market of aggressive consumerism, with the increase in the purchasing power of the people. The rural segment of the Indian economy is growing at a pace of 8-10 per cent per annum and is anticipated to add new consumption of US$ 90 billon-100 billion over 2012-2017 to the current base of US$ 240 billion-250 billion. FMCGs are growing at the rate of 18 per cent vs 12 per cent growth in 2009 There are 42,000 rural supermarkets (haats) in India , which exceed the total number of retail chain stores in USA (35,000)
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