economy | IST

India can grow by penetrating in rural markets, says Institute For Real Growth

India can grow by penetrating in rural markets, said Marc De Swaan Aarons, founder of the Institute For Real Growth.
“The traditional ways of driving growth are kind of running out of the steam. There is growth but it is much more difficult to achieve. We would like to say it is more on uncomfortable places. Manufacturers are having to work with discounters to reach new segments, they have to create new types of packaging so that comparisons in price is more difficult.
They are going to buy smaller companies that serves niches of markets because that is really the days of playing the big game are over and everything is becoming more difficult and people have to up their game, he further said.
“In India over 35 senior leaders across industries participated in the qualitative interviews which were done across 73 markets and almost 700 business executives participated in the online survey. There are still in India opportunities for growth by expansion into segments that don’t have the penetration yet for example rural India so that is something you have going your way. There are many business leaders who actually are truly connected to some of the things that we have been talking to and that are driving more purpose for brands and purpose for business strategies," he said.
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