A faster pace of urbanisation goes hand in hand with rural prosperity
The trend towards urbanization will pick up pace over the next decade. By 2031, 41 per cent of people will be residents of urban India. The top nine metros and 54 boom towns/niche cities will be significantly more prosperous than smaller cities.
Simultaneously, rural India is on its way to becoming more urbanized which in turn leads towards increased income and growth in consumption. By 2031, this ‘new’ rural India will be contributing 55 per cent of incremental consumption.