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A DAYǥ
m 2.6 BILLION PEOPLE LIVE BELOW THE $2 LEVEL
m INDIAǯS OFFICIAL POVERTY MEASURE HAS LONG
BEEN SOLELY UPON THE ABILITY TO PURCHASE A
MINIMUM RECOMMENDED DIET OF 2,400 KCAL.
m THESE ESTIMATED ARE DERIVED FROM THE
NATIONAL SAMPLE SURVEY (NSS)
m BUT DESPITE SUCH DRASTIC LIMITATIONS TO ITS
PURCHASING POWER AND AFFORDING CAPACITY
RURAL INDIA IS SLOWLY UNFURLING AS A VERY
LUCRATIVE TARGET MARKET.
m DESPITE BEING BACKWARD, POOR, AND
HOUSING MOST OF INDIAǯS POOR AND A LARGE
NUMBER OF THE WORLDǯS POOR IT POSSESSES
THE CAPACITY TO BECOME A SUFFICIENTLY
VALUABLE MARKET.
m IT IS SEEING SIGNIFICANT INCOME GROWTH
AND EMPLOYMENT DIVERSITY FOR THE FIRST
TIME IN ITS HISTORY.
m RURAL INDIAǯS PER CAPITA INCOME GROWTH
RATE IS SAME AS URBAN INDIAǯSǥǥ REASON FOR
IT BEING MORE INTERESTING THAN URBAN
INDIA IS THAT RURAL INDIA HAS THREE TIMES
MORE PEOPLEAND IT REPRESENTS A LITTLE
OVER HALF OF INDIAǯS TOTAL GDP.
m IT IS ALSO GENERATING TREMENDOUS FORCES
OF CHANGE IN THE MARKETǥ..
THIS IS
TODAYǯS
RURAL
INDIAǥǥ.
m MAJORITY OF RURAL INDIA IS UNDERSERVERǥ. THIS
IS BECAUSE OF THE URBAN MARKET ORIENTATION
OF ALL THEORGANIZATIONS.
m ANOTHER REASON FOR THIS DISCRIMINATION IS
THE WRONG PERCEPTION ABOUT THE RURAL
MARKET AND HENCE NO BUSINESS OPPORTUNITY
SEEN
m LACK OF VISION TO STAND UPTO THE CHALLENGE
OF CREATING ANEW BUSINESS STREAM TO MEETTHE
NEEDS A LOW EDUCATION-HIGH EXPOSURE, LOW
INCOME ȂHIGH ASPIRATIONS,MOSTLY YOUNG
CONSUMER BASEǥ..
m RURAL INDIA IS PROVIDED WITH MODIFIED
VERSIONS OF THE OLD AGE EQUIPMENTS THEY
USE LIKE ǮCHULHASǯǥ.. BUT DESPITE THE FACT
THAT THEY KNOW WHAT LPG AND COOKING
GAS IS AND HOW TO USE IT THEY DONǯT GET IT
DUE TO HIGH TRANSPORTATION COST.
m THEY NEED SUBSTITUTES NOT MODIFIED JUNK.
m ANOTHER REASON FOR THIS
UNDERDEVELOPMENT IS THE ASSUMPTION
THAT RURAL INDIA WILL ADOPT URBAN
PRODUCTS WITH THE GROWTH IN ITS OWN
INFRASTRUCTURE. NOT A TRUE ASSUMPTION.
m RURAL INDIA FOLLOWS A DIFFERENT
TRAJECTORY OF EVOLUTION.
m THE MOST STRIKING DIFFERENCE IS THAT RURAL
INDIA IS DEVELOPING AS A GROWTH MARKET
AT A TIME WHEN THE GOVERNMENT IS STEPPING
ASIDEIN FAVOUR OF MORE EFFICIENT PRIVATE
PLAYERS.