Industry Majors Say They Benefitted From Tapping Rural Markets
Tuesday, August 19, 2008
New Delhi, Aug 19 (IANS) Four of India?s largest companies Tuesday showcased here how they have benefited by tapping India?s huge rural market.
The four – ICICI Bank, Hindustan Unilever Ltd, Hero Honda Motors and Infosys Technologies – are among the largest in their own areas of business.
?It?s a myth that profit margins get squeezed if you market to the bottom of the pyramid,? said K.V. Kamath, managing director and chief executive officer of ICICI Bank, India?s largest private lender, Tuesday in his keynote address at the Ninth Annual Marketing Summit organised by the Confederation of Indian Industry (CII).
?Our growth strategy is now focused on tapping the Rs.500-billion credit market among India?s low-income groups who do not get any credit now,? Kamath said. The two-day summit began Monday.
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