business.outlookindia.com | India’ s New Retailers Rural economy / Microfinance / Cover Stories Magazine | Jul 11, 2009 Rukmini Adsule (left ) and Anita Mane, from the microfinance fold, sell Godrej & Boyce ’s nano refrigerators and Hindustan Unilever ’s water purifiers, among other products, in Osmanabad, Maharashtra. Adsule earns Rs 3,000 a month as commission. Microfinance India’s New Retailers Microfinance institutions are going beyond financial products to sell phones, fridges and more. Everyone gains: rural consumers, rural sellers, companies and MFIs. Naren Karunakaran , Anurag Prasad , Rajiv Bhuva In a dry and dusty fair in Osmanabad, a small town tucked away in the Marathwada region of Maharashtra, a thousand women have just spoken. Their verdict is loud and clear. CANDY RED. Consumer durables firm Godrej & Boyce is parading several colours of its new breakthrough product, ChotuKool, a nano refrigerator. A few fluorescent colours come first. The women vote this out with a cacophonous show of hands. They know what they want. Candy Red. They did more than choose the colour of the fridge. They helped Godrej conceive and design the product. Then, from September 2008, when the first prototype of ChotuKool was unveiled to them, they began working with executives from Godrej & Boyce to http://business.outlookindia.com/printarticle.aspx?240795 (1 of 10) [7/19/2010 11:19:05 AM]
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