The Next Half Billion (NHB) refers to the nearly 500 million Indians who will come online for the first time by 2022, and predominantly from the bottom 60% of India's income distribution.
Our investment thesis postulated that internet and mobile phones could unlock greater incomes, opportunities and choices for the NHB through new tech-led business models. Five years since we began focusing on this segment, this paper takes stock of how our thesis is playing out and how NHB-focused business models have evolved. It also anticipates the next frontiers in the NHB's digital journey and the opportunities for entrepreneurs serving them.
Read the full report here.