Usha International stated that it is aiming to increase rural revenue to 25% by 2023-24, led by robust sector sales.
The company stated that it is also making efforts to double rural penetration over the next two to three years.
The sector contributes 18-19% to the fan and small appliance maker's revenue.
Usha International Senior VP & Head - Rural Division, Ajay Sharma said, “Our growth in rural segments has been twice that of urban areas. Given the humongous size and diversity of India’s rural population, it is safe to say that the value of goods and services consumed is greater in such regions. We anticipate the rural belt to be a big growth driver for India in the coming five years."
(With inputs from PTI)