Indian Rural Market: Economic Power House of the Country
There is no doubt about the fact that the Indian rural market is increasingly becoming the economic power house the country. Consumer preferences in rural markets have shown a paradigm shift over the last few years. Consumption patterns and preferences in rural areas are gradually changing to increasingly resemble to that of urban consumers. They are aspiring to purchase branded and high quality products. The hinterlands in India consist of about 650,000 villages, inhabited by about 850 million consumers making up for about 70% of population and contributing around half of the country’s GDP. The FMCG (fast-moving consumer goods) market in rural India will be US$ 100 billion by 2025 from the current level of about US$ 12 billion. Key words: Rural market, Consumers, FMCG.