Rural India: The new frontier
Bindu Nair
The potential of rural India is evident in many statistics:
- Since 2000, per capita GDP in India's rural regions has grown at a compound annual growth rate (CAGR) of 6.2% (India Brand Equity Foundation)
- Rural per capita consumption increased by 19% annually in the period from 2009-10 to 2011-12, while spending in rural India in the same period touched US$69 billion. (India Brand Equity Foundation)
- There are 850 million consumers inhabiting 650,000 villages across the country. (India Census- 1991, 2001 and 2011)
- Nielsen expects the FMCG market in rural India to top...