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Our Investment Thesis – Innovating for the NHB

29th January 2021

Research Report

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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.