The SBI Youth for India Program is a unique and a great initiative by State Bank of India. Considering the fact that around 70% of Indian population still lives in rural areas across thousands of villages in the country, it is not hard to imagine how useful and relevant this programme is.
President Barack Obama in his recent address in Mumbai particularly mentioned that India and US can very effectively cooperate in the agricultural space besides manufacturing, infrastructure etc. He clearly indicated the need and importance of improving the process of economic upliftment in the rural sector and of creating more jobs and opportunities in the sector.
Incomes in the rural sector have been growing steadily and will continue to grow as well as aspirations and needs of people, young and old. There are very few businesses, which will not have grown in the rural areas and almost all companies and businesses are gearing up, if not already done, to address this very important segment of the Indian society.
Organisations and industrial sectors which have direct focus in the rural area fall into various categories, which are:
Agri Inputs: Fertilisers, seeds, pesticides, farm equipments, modern irrigation methods etc.
FMCG and consumer durables: Encompasses very diverse businesses starting from apparels, footwear, personal and hygiene products, drinks and beverages, confectionery, electronic consumer items etc.
Transport: Automobile, trucks, two wheelers
Communication: Telecom services, mobile sets
IT: Hardware and software, web-based services
Education and publication: Schools, colleges, vocational institutes etc
Healthcare: Hospitals, clinics, retail of medicines, insurance services
Banking: Retail banking
There are a host of other businesses but the above would be the most important where immediate growth is inevitable.
– Ravi Bhatia, Managing Director, Gilbert Tweed Associates