'Firms should engage in rural mkt'
The lack of an integrated business relationship with the rural market, billed at $500 billion in the next 10 years, is costing the economy dear, which otherwise could grow by an additional 2 per cent annually, according to FICCI.
By PTI |
NEW DELHI: The lack of an integrated business relationship with the rural market, billed at $500 billion in the next 10 years, is costing the economy dear, which otherwise could grow by an additional 2 per cent annually, according to FICCI.
"Rural infrastructure and business architecture is set to undergo a sea change through the engagement of corporate India with the 750-million strong rural market," a chamber statement said.
With a view to engaging the rural community, the chamber has suggested development of rural kiosks as part of the Bharat Nirman Programme and budget allocations to promote public-private partnership projects.
Almost all corporates, including MNCs are looking at the rural market seriously. While the consumer goods and FMCG companies were the first entrants, we now have financial service providers and even hi-tech companies that are making a beeline for the 750-million strong rural market, FICCI President Habil Khorakiwala said.
He said telecom companies are aggressively bidding for rural networks. Such postures would not only generate revenue for these companies but also help integrate far-flung rural areas into the national economy.
The spread of such networks would create new business opportunities for the rural people," he said.
To encourage participation of the business community in rural areas, FICCI is organising a two-day India Rural Business Summit from October 8 with the support of ministries for Rural Development, Panchayati Raj, Finance, Micro, Textiles, and Information Technology.
Senior Ministers and government officials and CEOs will share their views with the corporates, academia, experts, NGOs and policy makers, the statement said.
"Rural infrastructure and business architecture is set to undergo a sea change through the engagement of corporate India with the 750-million strong rural market," a chamber statement said.
With a view to engaging the rural community, the chamber has suggested development of rural kiosks as part of the Bharat Nirman Programme and budget allocations to promote public-private partnership projects.
Almost all corporates, including MNCs are looking at the rural market seriously. While the consumer goods and FMCG companies were the first entrants, we now have financial service providers and even hi-tech companies that are making a beeline for the 750-million strong rural market, FICCI President Habil Khorakiwala said.
He said telecom companies are aggressively bidding for rural networks. Such postures would not only generate revenue for these companies but also help integrate far-flung rural areas into the national economy.
The spread of such networks would create new business opportunities for the rural people," he said.
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To encourage participation of the business community in rural areas, FICCI is organising a two-day India Rural Business Summit from October 8 with the support of ministries for Rural Development, Panchayati Raj, Finance, Micro, Textiles, and Information Technology.
Senior Ministers and government officials and CEOs will share their views with the corporates, academia, experts, NGOs and policy makers, the statement said.
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