India Consumer Market Growth: Seeing the stable demand in the country, the world’s big consumer companies are showing confidence in India. Foreign companies believe that demand for their products may increase in India. Therefore they are continuously planning to invest in India.
However, after heavy rains in the second quarter and GST reform, the performance of companies has remained stable. Due to which it is expected that the market may see a rise in the coming days. According to an ET report, key executives of more than a dozen companies have admitted that they are going to continue investing in India.
What does the report say?
An ET report revealed that the world’s biggest consumer companies are planning to continue investing in India in the future. This is because the consumption of these products in the country remains stable. Besides, their demand is also increasing rapidly.
Heads of companies like Mondelez, Unilever, Carlsberg, Colgate-Palmolive, LG Electronics, Coca-Cola, PepsiCo, Apple, Papa John’s and Diageo acknowledged that India still maintains its position as a fast-growing market.
Sales happening in rural areas
In India, these products are sold in urban areas as well as rural areas. The sale of these products in rural areas remains faster than in cities. While companies are focusing on premium products for urban consumers, sales in rural areas remain stagnant.
According to Colgate-Palmolive CEO Noel Wallace, demand is a bit sluggish in cities, but the situation in villages is better than expected. Besides, companies in the electronics sector are also continuously increasing their investment in India. According to Apple CEO Tim Cook, the company has achieved its highest ever revenue in India in the September quarter and many new stores have also been opened in the country.
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