The rural economy though as a composite, contributes close to half the GDP in India. As per estimates, the rural market for FMCG goods alone will cross $100 billion by 2025. Rural households contribute to approximately 50 percent of the GDP, 40 percent FMCG sales, 50 percent two-wheeler sales, 30 percent four-wheeler, and 45 percent telecom contribution, according to a report by Deloitte and FICCI (2018).
In this scenario, all the companies are competing with each other for an enduring presence in Rural India. Large corporate houses are making their products keeping in mind the rural population of India. The government is increasing its focus more on rural development, both on the income and the expenditure side. Rural Market, therefore, is a lucrative choice for big companies.
There is a need for industry professionals to train themselves about the new rural India, its aspirations and ability for higher consumption levels. With distinctive consumer profiles and availability of infrastructure, the marketing strategy for rural markets would be different from the urban market. The industry, therefore, will have to be responsive to the specific needs of this sector rather than replicating urban products, services and channels into rural markets.
However, one of the common challenges many companies face and which is affecting the profitable growth of businesses in the rural areas is limited talent. To manage this huge untapped market companies are looking for professionals who can measure the pulse of the rural market aptly.
EDUCATION IN AGRI
Agriculture education of India is at a crossroads, as the gap between the aspirations and reality of career pathway of agriculture graduates widens. A majority of the agriculture graduates still aspire for a government job but in reality, the number of such jobs is decreasing due to stiff competition and changing government policies in the era of globalization and privatization.
Denne historien er fra September - October 2019-utgaven av Business Of Agriculture.
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Denne historien er fra September - October 2019-utgaven av Business Of Agriculture.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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