One of India’s largest consumer products company, Godrej & Boyce Manufacturing Company, is planning to expand to the bottom of the pyramid in India. And to do this, it is thinking of creating an innovative refrigerator.
Only 20% of Indians have one. This covers 80% of the upper and middle classes in the large cities, and only 1% of village dwellers. There are villages without even a single refrigerator, and that have no electricity infrastructure either. To fill the gap, Godrej plans to develop a miniature refrigerator running on a long-life battery.
The company has invested in several US semiconductor companies developing the futuristic technology that could enable a miniaturized refrigerator like this to conquer the Indian market. Read more