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ARTICLE
GATEWAY TO RURAL -
THE ROLE OF FMCGS
FINANCIAL INCLUSION
THROUGH MARKETING
Dr. Seethalekshmy. N
Selection Grade Lecturer,
Department of Commerce,
S.I.E.S. College of Commerce &
Economics, Sion (E), Mumbai
Abstract financial crisis that created recession during September
2008.
The rural market in India is worth about $9 billion in
consumer spending and expected to grow very fast The modest performance may be good for the world but,
compared to urban market. This can be tapped very easily it is not good enough for the country. India will have to hit
for financial inclusion with the help of FMCG companies. a double digit growth figure in order to overcome its inbuilt
India ranks 119th among 169 countries on the 2010 economic problems, inherent poverty levels and other
Human Development Index published by the United negative social indices.
Nations Development Programme. Still we have issues
in water, sanitation, power, infrastructure, and When Barack Obama visited India in 2010 he announced
environmental degradation. Government is trying to that India is not emerging economy, it is an emerged
implement inclusive growth which is impossible without economy. This apparently indicates that we have to have
financial inclusion. Financial inclusion has become a major inclusive growth.
policy plank. This paper tries to analyse how the FMCGs
can contribute towards financial inclusion and inclusive The inclusive growth can be achieved with the help of
growth. multinationals also. Inclusive growth is aimed by the maker
of lifebuoy soaps, detergents and shampoos - Hindustan
Introduction Unilever by its alternative distribution channel called
'Project Shakti' to penetrate rural India in a cost effective
Former Prime Minister Manmohan Singh at a press manner. HUL had made 2.5 lakh rural outlets in 2009 which
conference in New Delhi had said that his government's had increased to 5.5 lakh in 2010 and in the year 2011 it
performance was reasonably satisfactory and the country aimed at a projected figure for 10 lakh.
could achieve a growth of 7.4% in 2009-10 compared to
6.7% in 2008-09. This could be a creditable achievement HUL has initiated a pilot project with India's largest bank,
since global markets were struggling to come out of
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