Benjamin Mathew, partner in business strategy, Mart conducted a workshop at TOI’s Star FLOW Fest, in which he shared his insights on the transformation in the Indian rural market.
Benjamin touched many issues such as Characteristics of Emerging Markets, Contextual Understanding into Geography and Demographic Indicators, Income occupations and Consumption Pattern Layouts as well as Scope and Scale of Technology and Internet in consumption.
Illustrating how the allied sector in the Indian Market has contributed to income, Mathew points out, “The poultry sector added the maximum employment opportunities, 3.80 million in the last five years. The sector stands at $7 billion. With milk being the largest in terms of value, every hundred thousand litres of milk gainfully employs 10,000 people.”
Giving his two cents on occupation in India and what people do for a living, Mathew says, “By 2020, one person in every agricultural household will be in the service sector. And India is likely to add 2,500 towns and cities every decade.”
The workshop also gave a structure to how money is spent by regular consumers in India. From wallet to purchase, the entire structure is driven by necessity and therefore, the requirement of sales. The workshop further delved into the social infrastructure. Mathew pointed out that the increasing number of households are either in the social infrastructure or are affected by the works of the same.