Union Budget 2020: Rural Sector Key Highlights

Union Budget 2020: Rural Sector Key Highlights

Winning the Rural Market

Rural India accounts for 65% of the country’s population and contributes to around 50% of the GDP. The next decade in India is the decade for consumption. With a promising consumer market waiting to be explored via rural capacity upsurge, the industry is aimed to hit USD$100 billion by 2025, according to industry reports.

India’s rural market is the biggest untapped business opportunity. When it comes to reaching the rural consumer, the task becomes daunting; given multiple access barriers such as lack of infrastructure and digital connectivity, inadequate distribution networks, lack of financial inclusion, limiting the aspirations of rural consumer. It is imperative to understand how rural consumer is beginning to show an inclination towards adopting urban ways, how different this need is from that of urban, and how they can be met.

Today’s rural consumer has a diverse set of needs and aspirations which demands tailored offering, along with innovative efforts by businesses and government initiatives, such as ‘Make in India’, ‘Digital India’ and ‘Smart Village’ to accelerate Rural India’s growth. Companies today need to rethink their business models and focus on right balance in their product mix, demand generation, supply and services innovation which caters to these aspirations.

Breaking the traditional perceptions, new rural India needs a fresh vison and distinct approach to recognise the resource of- young people, skilled artisans, innovators, and budding entrepreneurs. This is a multi-billion dollar opportunity waiting to be tapped and realise its full potential.

Rural Market India Summit
Rural Market India Summit

About the Forum

The second annual Rural Market Summit India aims to bring together policymakers, researchers, cross-industry experts and media to engage in a thought-provoking discussion on key issues and challenges hindering the growth of rural areas, while also highlighting corporates’ innovative strategies to win the trust of rural consumers.

The Summit will address key strategies and policies to strengthen rural ecosystem with a focus on physical & digital connectivity and financial initiatives as key drivers to accelerate holistic rural development, thus unlocking opportunities for sustainable growth in India’s rural markets.

The Summit extends a unique platform to learn from thought leaders and industry experts through panel discussions, exclusive opportunity for one-on-one sessions, real-time case studies and presentations discussing comprehensive strategies for a new and empowered rural India.

Rural India’s Burgeoning Consumption Story

  • Rural India contributes to around 50% of country’s GDP
  • Consumer goods market in rural India expected to hit USD$100 billion by 2025
  • Developed rural India will be home to 240 million consumers by 2030
  • Rural India contributes to 37% of overall FMCG spend
Rural Market India Summit
Rural Market India Summit

Functional heads from:

  • Rural Business
  • E-commerce
  • Corporate Communications
  • Consumer Insights & Research
  • Distribution Channels and Supply Chain Management
  • Sales & Marketing
  • Branding & Advertising
  • New Product Development
  • Business Analysis & Planning
  • Strategic Management
  • Business Development
  • Commercial Product Marketing