The economic data in the dedicated financial papers and Business Review India magazine informs, “Recent years have seen rural markets emerging as an important growth engine in the India consumption story. With 69 per cent of India’s population living in rural areas, they present a significant market opportunity. Today, for instance, close to a third of both FMCG and durable sales is contributed by rural markets. Overall, rural consumption in value terms has grown 17.2 per cent per annum in the FY 08-10 period. Recent data shows that rural consumption has grown faster than urban in the last two years.”
The author of Business Review India further states, “Rural penetration of key durables has seen a significant upward trend. TV penetration has moved from around 31 per cent in 2007 to 39.8 per cent in 2010 and motorcycles/scooter penetration from 9.5 per cent to 13.9 per cent in the same period. Region-wise trends in TV indicate that south India has led this growth with more than 20 per cent increase in penetration, followed by north and west with around 5 per cent increase in each. A deeper analysis of district-wise growth trends in the 2007 to 2010 period reveals interesting facets of the rural growth story”.
More than 90 per cent of districts in rural India have experienced positive growth over a three-year period. The political leadership and establishment need to revisit their thinking, approach and vision of India. India cannot prosper in isolation, neglecting 70% of its children.
If they take care of rural India, the villages in turn shall take care of the cities and towns, and help clear them of their slums and all resulting social and economic ills. More important and significant of all, it will liberate India of its caste quagmire and poverty, which have enveloped the conscience of the nation for thousands of years through irrational beliefs and hierarchical divide.
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