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Nirmal Bang Report
Key Points
Connectivity - both digital and physical is redefining aspirations and access for consumers, particularly in rural areas.
Diversification of rural employment from agriculture to manufacturing and services is improving incomes and shifting consumption patterns.
Rising female participation in rural workforce and improving access to finance are leading to a shift in demand, particularly for consumer durables.
Going forward, the Indian consumer will remain value conscious, but premium products will find enough takers in rural areas even as value-driven small packs will find buyers in urban areas.
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