India s Indian Rural Market Essay - 1599 Words

There is growing realization among marketers about the enormous untapped potential of India’s rural markets. The Indian rural market with its vast size and demand base offers great opportunities to companies. In India, there are 6,42000 villages . While agriculture used to be the major source of income in rural areas, over the past 10-12 years, the dominance of agriculture has been rapidly declining. The contribution of agriculture to India’s GDP was less than 20% in 2008-09. There is a sizeable population of self-employed persons in the hinterland and quite a few of them are into services such as repair and maintenance of motors and pump sets, televisions and other electrical appliances, farm equipment, tractors and two wheelers. Some are also engaged in other services like hospitality, transport, entertainment etc. The Indian Rural Market ïÆ'Ëœ The Indian rural market is much larger when compared to the urban market in terms of population and number of households, and also by way of geographic dispersal. The rural market is the new driving force of the â€Å"Indian Consumption Story†. With only 31.16% of the Indian population living in urban areas and 68.84% residing in the villages (Census 2011), it is only a matter of time before rural India takes its rightful place in the Indian growth story. Faced with a threat of declining growth rates in future urban markets, businesses have started focusing on the huge and relatively untapped rural Indian market. The major growth potentialShow MoreRelatedIndia s Indian Rural Market1437 Words   |  6 PagesIntroduction There is growing realization among marketers about the enormous untapped potential of India’s rural markets. The Indian rural market with its vast size and demand base offers great opportunities to companies. In India, there are 6,42000 villages . While agriculture used to be the major source of income in rural areas, over the past 10-12 years, the dominance of agriculture has been rapidly declining. The contribution of agriculture to India’s GDP was less than 20% in 2008-09. ThereRead MoreSwot Analysis Of Indi Swot Analysis932 Words   |  4 PagesANALYSIS OF RURAL MARKETING IN INDIA STRENGTHS 1. The level of competition in the urban markets has intensified and is increasing tremendously. It is also stated by many experts that the urban markets are almost saturated. Therefore, penetration into rural markets is inevitable for sustained business growth. 2. 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