How Kirana Stores Are Going Digital To Drive Last-Mile Financial Inclusion

How Kirana Stores Are Going Digital To Drive Last-Mile Financial Inclusion

SUMMARY

Kirana shops account for more than half of all grocery purchases in India, and they handle 90% of the country's $600 Bn grocery business

Kirana shops can help fintechs increase last-mile connectivity by solving the identification problem with Aadhaar, having strong financial infrastructure and being willing to accept further compatibility

Kirana shops will only be able to realise the promise of a $10 Tn economy by establishing strong partnerships between the fintech sector and the merchant network

The significance of kirana shops in India was highlighted by the pandemic. Indian customers during lockdowns shopped more at their neighbourhood stores rather than ordering groceries online. There is a chance for kirana shop owners, communities, and the Indian economy as a whole to reap the benefits of digitalisation in India.

The role that these retailers play in the Indian economy cannot be overstated. Kirana shops account for more than half of all grocery purchases in India, and they handle 90% of the country’s $600 Bn grocery business.

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