My Little Goli Soda Pop: India’s Bubbling Nostalgia Economy
Dhrithi Mijar
FY B.Sc. (2025-2029)
Reading time: 5 minutes
If you have ever tried to open a bottle of goli soda, you know the true meaning of perseverance. You also know the taste of success at the end of it— it’s carbonated, sticky, and dripping down your shirt and hands.
Goli soda, also called banta soda in North India, was once a ubiquitous product in every kirana store’s crates and the summer dream of every Gen X. After liberalisation in 1991, its regional charm faded in the face of standardised, mass-produced soft drinks that flooded the beverage market. And so, the goli soda bottles have been gathering dust…until recently. The past few years have seen the humble drink ride a massive, fizzy comeback wave, with the Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, Government of India, announcing its global resurgence as Goli Pop Soda in February this year.
Sentiment has taken goli soda, among so many other traditional Indian products, to resounding success abroad. The Nostalgia Economy in India is going strong, with consumers demanding premiumisation of products and services high on wistfulness value. Indian per capita income has risen steadily to reach approximately $2600 in 2024 as per World Bank data, causing a marked rise in experiential shopping. This phenomenon is not necessarily a demand for luxury items, but a desire for familiar products neatly repackaged to seem more elevated and sophisticated than drab mass-market goods. Indian shoppers are ready to spend a premium for products that promise superior quality and a sense of exclusivity. As disposable incomes rise, people are no longer paying for just a product; they are paying for a glimpse down memory lane. For younger consumer groups like Gen Z, it is a refreshing taste of the “vintage” life, giving them a sense of connection to times they haven’t lived through.
This search for individual authenticity through nostalgia, however, does not seem to resonate with rural consumers. They do not reminisce about the past, but are intent on marching forward towards tangible, fast-moving modernity. Internet culture has seeped into the heart of rural India. According to the Telecom Regulatory Authority of India (TRAI), rural internet subscribers shot up to 534.69 million at the end of March 2025, from 398.35 million at the end of March 2024. There is an economic transformation with rural consumers accessing goods and services through online markets, driving growth in the FMCG sector. Most of this segment sells packaged products from trusted brands that seems like a sure upgrade in the quality of life— affordable, fast and mainstream.
Non-urban youth in India are distancing themselves from “traditional” products, their expenditure more aspirational than experiential. Local food and beverages are being replaced by branded products like energy drinks and packaged snacks. Individual expression is not the priority here; large brands are strategically catering to their desire for novelty. Once considered a privilege of urban consumers, e-commerce is now reaching the remotest parts of India, offering rural consumers access to a diverse range of products and services. Major players like Amazon and Flipkart are tailoring their approaches to meet the needs of regional buyers. Tata Cliq Luxury has already seen an uptick with 55% of its revenue from smaller towns. Legacy FMCGs like Dabur and HUL are gearing their efforts towards penetrating rural Indian markets. According to NielsenIQ, FMCG growth in rural India has outpaced urban growth for several quarters, with an uptick in rural demand by 6% in comparison to a 2.8% increase in urban demand. Companies have successfully penetrated this vast market by introducing smaller, lower-priced Stock Keeping Units (SKUs). This strategy allows rural consumers to experiment with branded products without a large financial commitment, making modern amenities accessible and allowing them to “trade up” from unbranded or local alternatives. Improvements in infrastructure, including better road connectivity and a massive surge in digital penetration, have lowered logistical costs and reduced information asymmetry, further fuelling this consumption boom.
For the urban middle and upper classes, buying khadi shirts and Paperboat’s Aam Panna isn’t about utility—it’s about identity, about the vibe. The economic revival of traditional handicrafts, handloom textiles, and artisanal products is a direct result of this urban demand. For today’s affluent India, turmeric lattes seem way more exotic than “haldi doodh”. This move away from a volume-driven market to a value-driven, niche one with a relatively small cohort of high-income consumers drives a disproportionate amount of growth.
This divergence also has a significant impact on supply and demand dynamics. For the urban market, high-end artisanal products rely on fragmented and often inefficient high-cost supply chains. These networks operate with higher costs, and their success hinges on the promise of steep margins and consumers’ willingness to pay for exclusivity. On the other hand, the rural market demands scale and affordability. Here, the FMCG sector has invested heavily in building a robust, cost-effective rural distribution network designed for high volume and low margins. Designed to deliver everyday branded products at accessible prices, these networks thrive on low margins offset by sheer scales volume. Together, these two contrasting models highlight the dual nature of India’s contemporary consumption landscape.
Nostalgia can only take you so far. Staying relevant requires manufacturers to perfectly marry traditional designs and flavours with contemporary innovation. For instance, while goli soda retains its iconic bottle, consumer preferences and regulatory requirements also influence the external packaging. The product has already made strong inroads in global markets, with successful trial shipments to the USA, UK, Europe, and Gulf countries. Thousands of bottles have been stocked across outlets, receiving an overwhelmingly positive response, where consumers are (re)discovering the joy and chaos of popping that stubborn marble.
The paradox of nostalgia economics in India is a result of two different economic realities and consumer psychologies. The urban market, with money in their purses and stars in their eyes, seeks emotional fulfilment and identity through premium, nostalgic products. The rural market, with its burgeoning purchasing power and aspirational mindset, seeks a visible upgrade in life through fast-moving branded goods.
Indian consumption patterns are ever evolving. The success of businesses, whether they are reviving age-old recipes or introducing new-age conveniences, will depend on their ability to navigate this new dual reality. Together, market forces are reshaping supply chains, redefining brand strategies, and creating a uniquely Indian marketplace, bridging the gap between a past worth fondly remembering and a future worth striving for. Like a good old bottle of goli soda, consumers in the Indian market look forward to a good measure of the actual punchy drink as well as the fizzy throwback. How strategically the marble is positioned for convenience or nostalgia, remains to be seen.