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Slide 1
Overview of rural market in India
Rural India generates around 50 per cent of India's gross domestic product (GDP) 70 per cent of the country's population The market is a mix of growing incomes and aspirations of around 850 million consumers who inhabit 650,000 villages in the country
Slide 2
Market Size
The per capita GDP has grown at a compound annual growth rate (CAGR) of 6.2 per cent in India's rural regions, since 2000.
Rural consumption per person is also increased by 19 per cent yearly in the period 2009-12
Major hub for investment by India Inc. In the period 2009-12, spending in rural India touched US$ 69 billion
Slide 3
Characteristics of India Rural Market
Large and diverse market
Agriculture is the major source of income
Traditional Outlook
Diverse socio economic Background
Change in standard in living
* Large and Diverse Market
The Indian rural market is large and diverse. Therefore, the density of shops to market the products is less when compared to the total population.
* Agriculture is the major source of Income
The main source of income of the rural people is agriculture. If crops fail, then their income gets affected automatically and this reduces their purchasing power.
* Traditional Outlook
People in rural areas are traditional in their thinking; they are superstitious in their beliefs. This trend too is changing because of increasing literacy levels among the rural youth.
* Diverse Socioeconomic Background
Rural consumers are spread across different states in distant parts of India. Thus, their social norms and economic status differs widely from each other.
* Change in Standard of Living
Rural population has in general a low literacy rate, low per capita income and thus low savings. Many of the rural people's standards of living are below the poverty line and they are also socially backward. There is, however, a change for the better on these fronts as a result of reduced tax
Overview of rural market in India
Rural India generates around 50 per cent of India's gross domestic product (GDP) 70 per cent of the country's population The market is a mix of growing incomes and aspirations of around 850 million consumers who inhabit 650,000 villages in the country
Slide 2
Market Size
The per capita GDP has grown at a compound annual growth rate (CAGR) of 6.2 per cent in India's rural regions, since 2000.
Rural consumption per person is also increased by 19 per cent yearly in the period 2009-12
Major hub for investment by India Inc. In the period 2009-12, spending in rural India touched US$ 69 billion
Slide 3
Characteristics of India Rural Market
Large and diverse market
Agriculture is the major source of income
Traditional Outlook
Diverse socio economic Background
Change in standard in living
* Large and Diverse Market
The Indian rural market is large and diverse. Therefore, the density of shops to market the products is less when compared to the total population.
* Agriculture is the major source of Income
The main source of income of the rural people is agriculture. If crops fail, then their income gets affected automatically and this reduces their purchasing power.
* Traditional Outlook
People in rural areas are traditional in their thinking; they are superstitious in their beliefs. This trend too is changing because of increasing literacy levels among the rural youth.
* Diverse Socioeconomic Background
Rural consumers are spread across different states in distant parts of India. Thus, their social norms and economic status differs widely from each other.
* Change in Standard of Living
Rural population has in general a low literacy rate, low per capita income and thus low savings. Many of the rural people's standards of living are below the poverty line and they are also socially backward. There is, however, a change for the better on these fronts as a result of reduced tax