800 million people (~66%) of India's population resides in rural areas, with diverse needs, consumer preferences and access to products and services. Rural India contributes to 47% of total India’s GDP. Still, systemic and sectoral challenges exist in providing better physical and social infrastructure to meet the needs of a rural consumer.
Sectoral challenges limit the ability to undertake income-generating activities. This in turn creates a vicious cycle of low productivity and low income, which leads to low affordability of basic products and services, critical for socio-economic development. However, rural growth is being propelled by programmes like Pradhan Mantri Awas Yojana, Har Ghar Jal, Ujjwala, Saubhagya schemes in rural areas. Eight core sectors are identified based on extensive primary and secondary research, stakeholder engagements, inter-dependency, market opportunity and impetus from the public and private sector players, and their relevance for enhanced access to products and services to rural households.
India’s agriculture technology market to be worth $24.1 Billion by 2025
$5.6 Billion investments required to provide clean drinking access through small water enterprises
Telemedicine market in India to exceed $ 5.5 billion by 2025
Clean energy innovations for livelihoods have a market worth $50 billion in rural India
Current annual remittance of $10.7 billion to rural areas
More than 109 million skilled workers required by 2022
Rural e-commerce projected to grow at 32% CAGR during 2017 – 2021
Rural sales contributing to 50% of two-wheeler sales
To further development in rural areas, there is a need to focus on ways to improve data reliability, identify and deliver viable solutions and business models, and create an ecosystem of cross-sectoral partners to scale interventions. Under this project, an integrated data-driven approach has been developed to mitigate these challenges and unlock potential opportunities.
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