The application of ICT solutions for the development of rural India and other developing countries opens up a vast range of possibilities. Giving an opportunity to the vast majority of the population living in rural areas, to cross the digital divide to obtain access to information resources and services provided by ICT is the next revolution waiting to happen. Although this is a development issue, it is just not the government, non-government organizations or the rural masses that have a role to play. Private profit-making institutions can develop solutions to capture the hitherto unrecognized markets, make profits and at the same time aid the rural societies. The new technologies being developed can help surmount barriers present in providing information resources at a low cost and make applications feasible and profitable. This paper presents some cases where ICT has been effectively used for the benefit of the rural societies and analyzes the opportunities that lie in this sphere. The cases range from successful use of ICT in governance, to ICT solutions for improved profits to ICT in microfinance. A case of an initiative by a large mainstream corporation to reach out to the rural sector, help in development and realize profits mutually is also presented. The projects discussed should generate more interest and facilitate private investment in the hitherto virgin territory. A large number of hurdles still remain but creative ideas, breakthrough ICT technologies and committed organizations can usher in the next revolution in the developing world.