Drishtee: Impacting Rural Societies Economically

According to several socioeconomic observations made by C.K. Prahalad and Stuart L. Hart, the real fortune for governments and companies to develop their services and products and to expand their prevalent businesses is at the bottom of the pyramid. But think about it – any big MNC would ponder twice before releasing a product for these ‘aspiring poor’, for the very reason that there is market uncertainty (because of the fluctuating wages of the poor).

Where’s the Growth?

Post-Cold War, what really happened is that the MNCs concluded through GDP, import and export trends that the emerging markets were China, India, Latin America, Soviet Union and their allies. They went ahead with the loaded idea that the middle-class consumers in these developing countries are the primary sources of business-return gold and market expansion. Of course, it was only obvious to think so, as the rich in the developed countries were only a Read more…