#29 The World's Most Complex Market?: Understanding Consumer India with Rama Bijapurkar

In this episode of the Business and Society podcast, Senthil delves into the complexities of the Indian consumer market with renowned market expert and author Rama Bijapurkar. Drawing from four decades of research, Rama outlines the transformational journey of India's consumer economy—from pre-liberalization austerity to the explosion of choices and rising competition after 1991. The discussion highlights the unique nature of the Indian market, the enduring relevance of kirana (mom-and-pop) stores despite predictions of modern retail dominance, and the myth of the middle class. Rama explains why Western business models often fail in India, the nuanced urban-rural divide, women's evolving roles in consumption, and the impact of digital technology. Tangible insights for entrepreneurs abound, stressing the necessity of careful segmentation and understanding local market logic. The episode closes with practical advice for business leaders and personal reflections on books and learning, making it essential listening for anyone interested in India's consumer landscape.

You can learn more about Rama's work by visiting her website: www.ramabijapurkar.com.

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