Consumer Sector Check - Rural Spending Allocation May Change On Second Covid-19 Wave: Nirmal Bang
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Nirmal Bang Report
We hosted Mr. Benjamin Mathew, Partner and Head of Strategy, MART Global Management Solutions LLP at our virtual investor conference to get insights on the on-ground trends and reality of rural India.
Following are the key highlights from the session:
- Rural India includes 640,000 villages whereas urban India includes 7,887 small towns and 53 large cities.
- There are ~84 million households in urban India and ~164 million in rural India. The average number of people per household in urban India has dropped to 3.9 over the last decade whereas the same in rural India stands at 4.93.
- Disposable income and spending level in urban India is ~1.5 times of rural India now. This difference is not as stark as 22.5 times, which was prevalent two decades back. There hasn’t been any significant change in the wallet spends of rural households.
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