Rewiring India's enterprises for the next billion users

Mohamed Kande & Sanjeev Krishan

Traditional philosophies blending with the modern world order and masala chai made in hi-tech machines being served in earthern kulhads-India boasts many interesting juxtapositions. These do not serve as contradictions, rather proof that megatrends such as technology and geopolitical disruption are making the world increasingly complex, while the need for personalisation and localisation remain critically important.

As India's next billion-a rising segment of rural, young, economically ambitious and digitally savvy individuals-comes to the forefront of India's consumption story, the imperative for India Inc to reinvent grows even stronger.


India stands at a pivotal moment in its economic trajectory, and its next billion will play an outsized role in redefining the future. To harness this momentum-where emerging technologies like AI are converging-leaders will need to think differently. The very idea of an 'industry', in the traditional sense, is ending, with new ecosystems-enabled by technology emerging, creates vast pools of capital and opportunities for value creation.

Unlike previous waves of growth, the next billion must not be viewed as a monolith, but as a collection of distinct micromarkets. A one-size-fits-all-approach has never worked in India. Enterprises that are successful realise that India celebrates its diversity-the challenge is not just reaching consumers but understanding them. This requires a fundamental rewiring of business models, technology and mindset-to bring intelligent systems and inclusive innovation to underserved populations. With preferences, weather, habitat and produce that change every few hundred kilometres, enterprises must move beyond basic localisation, and embrace deeper tech-enabled customisation. Innovation and continued investments are no longer "nice to have"-they are fundamental to maintaining relevance.

Simultaneously, homegrown on-device AI solutions help bridge the language barrier with low dependencies on an internet connection.

Business leaders must also understand the differences in earning and spending patterns, which differ starkly from urban consumers. Given the variability in payment cycles, daily wages and seasonal incomes tied to agriculture, consumers demand flexibility. Financial services-such as credit and insurance-need to reflect these realities. The introduction of ₹100 Systematic Investment Plans (SIPs) is a compelling example of fund houses understanding practical nuances. The heterogeneity of the Indian market creates an ideal sandbox to develop roadmaps for global consumers.

India's next billion are not passive consumers, but are creators, sellers, influencers and business partners who must be empowered-not just to participate in the formal economy, but also to help shape it. These relationships necessitate trust and ethics. The prevalence of cash-on-delivery models reflects how companies are building trust by recognising local needs, rather than forcing global models.

Policy and government leaders are essential to building a foundation that will underpin success. By collaborating with the private sector to navigate complexities and shape policies that support sustained economic growth-a win-win scenario for India Inc emerges. The government can help rewire the business environment to harness opportunities emerging from the intersection of India's next billion and new technology. As the number of digital touchpoints, complexity of distribution and speed of innovation increase-and as product lifecycles shorten-companies cannot operate in silos but need to collaborate with local governments to create solutions. Public sector support for India's booming startup ecosystem and investment in initiatives such as India Stack and large-scale infrastructure development has already accelerated these partnerships, with the private sector leveraging them to create new business models.

India's next billion are the heart of the country's consumption story and enterprises that recognise that will shape reinvention strategies built for the decades ahead.

Mohamed Kande is Global Chair of PwC and Sanjeev Krishan is chairperson of PwC in India. Kande will be speaking at The Economic Times World Leaders Forum in New Delhi