Question

Article on changing face of india in 200 words

Answer 1

Despite the declining significance of the monsoon on the economy and the diminishing share of agriculture in India’s GDP, the rural market remains an integral part of India’s economy, accounting for more than 70% of India’s population and typically comprising more than 50% of total consumption. Interestingly, the retail boom that has swept the country in recent years is now making its way to the “bottom of the pyramid”, enabling a trickle-down impact and empowering the rural economy. Further, a growing number of companies have begun to see potential in rural areas largely due to the rural sector’s role in both demand and supply dynamics.