INDUSTRY AND SOCIETY
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INDUSTRY AND SOCIETY

The late CK Prahalad coined the word, selling to the bottom of the pyramid. This is a huge market with little purchasing power. This market offers opportunities for unlimited growth.Multi national corporations such as Unilever accepted this philosophy by going in for offer of consumer goods such as soaps, pastes, talcum powders, detergent powders in small sachets affordable to this section. Unilever had already adopted sourcing of goods from rural folk in Chattisgarh promoting under Aaravalli brand. ITC through their e-choupal initiatives have contributed to a thriving rural economy in Andhra. Tatas have now joined the bandwagon. 

Earlier, Eureka forbes was the pioneer in providing solutions to safe drinking water through their Aqua Guard but this was heavily priced. Lever brought a cheaper version of water purifier but still it was beyond the reach of those in the bottom of the pyramid. Tata Chemicals have developed two models of purifiers which work with no electric power priced at sub 1K levels. Rs. 700 or so to be precise. This is a marvellous idea of providing goods and services to society at affordable costs. Tatas have an unwavering commitment to society at large and they have done many pioneering philanthropic work. I would salute Ratan Tata more for this revolutionary product than even for Nano for it has a neo rich tag attached to it with hidden subsidies. More and more Industry leaders should take a lead in providing goods and services that the community wants. For any product or service with no value to society at large is a useless tinsel.

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