A rosy future?

Rural markets have been getting a consistent thumbs-up in reports by different agencies. The McKinsey & Company study ‘Bird of Gold: The Rise of India’s Consumer Market’ estimates that by 2025, India will triple its income level and become the fifth largest consumer market, with the hinterland helping the process. Rural household incomes will increase substantially, with markets in these areas growing at double the pace of urban markets. An estimate by Nielsen said that the fast-moving consumer goods market in rural India will hit $100 billion by 2025, even as it is currently hovering around $12 billion. The National Council of Applied Economic Research (NCAER) survey report says there are 720 million consumers across rural India, so there seems to be enough reason for the optimism.