Research Finds Change in Rural Consumer Patterns
Monday, August 2, 2010
NEW DELHI: Indian consumers’ earning, saving and consumption patterns are rapidly changing. So much so that a recent report by the Centre for Macro Consumer Research (CMCR) of the National Council of Applied Economic Research (NCAER) predicts that by 2015, incomes of more than 42% rural households will shift from agriculture to non-farm sources like construction, retail, trading et al.
“The rural landscape is undergoing a steady but dramatic change. While there is a shift in income sources and consumption patterns by consumers in rural India, equitable growth of all regions of the country remains a challenge,” observed Rajesh Shukla, senior fellow, NCAER.
The report that set out to map changing earning, saving and consumption pattern throughout the country also projects a widening income gap through the saving potential of consumers at the different segments in the economy.