Parul
As private consumption growth surges across sectors in India, especially in the rural economy, a report revealed on Tuesday that 60 per cent of households with annual income above Rs 5 lakh are in the top 20 per cent (150) districts in the country.
The findings showed that the rural electrification across the county grew significantly from 17 per cent to 30 per cent in the last four years, thus lifting the economy and enhancing the quality of life. Healthcare infrastructure witnessed significant uplift where the health facilities count per 1,000 people grew from approximately 263 to 903. The report by ClarityX, an AI-driven data analytics and consulting company backed by MapmyIndia, looked into high consumption propensity markets across 788 districts in 36 states and union territories.
Rakhi Prasad, Co-founder, ClarityX, said that as India continues to grow, understanding development at the district level becomes crucial for enterprises aiming to optimise their resources and expand strategically. India’s technological expertise, innovative spirit, and widespread internet usage have propelled it to become a significant global force. According to the report, multi-dimensional growth is being witnessed across sectors, be it in infrastructural advancement, digitisation transformation, thriving start-up ecosystem, and various other factors that are enabling India to leapfrog. From two-wheeler sales to fast-moving consumer goods (FMCGs), the overall consumption is surging in rural India.
The FMCG sector is expected to register 6.1 per cent yearly growth in FY 2024-25 in the rural market, which was 4.4 per cent last year, another report mentioned recently. Rohan Verma, CEO and Executive Director, MapmyIndia Mappls, said that enterprises can understand, visualise, analyse and operationalise the detailed insights about each district in combination with MapmyIndia software tools, which provide capabilities for data visualisation, business intelligence, dynamic dashboarding, geospatial analysis, workforce management and more.
The report ranked all 788 districts based on their socio-economic, infrastructure availability, financial and mobility dynamic and many other factors, incorporating the growth these districts have seen over last four years. “This diverse array of indicators helps identify which districts have high consumption potential and which districts can emerge as lucrative markets in the future for investments by enterprises,” said the report.
