FMCG Giants Flood India with Investment Amidst Rapid Growth
Global fast-moving consumer goods (FMCG) giants have significantly increased their investments in India after seeing strong growth in the country's market during the June quarter.
Mondelez International, a multinational confectionery, food, and beverage company, added one lakh stores this quarter. In an interview, Mondelez Chairman and CEO Dirk Van de Put said, 'India is very strong.'
L'Oreal India saw its business jump over 70% during the same period.
Unilever, a British-Dutch multinational consumer goods company, achieved record market shares in laundry and hair care segments in India. The country has become Unilever's second-biggest market.
Nestle India reported an impressive profit growth of 48.26% and is expecting double-digit growth ahead.
Coca-Cola is doubling down on both premium and affordable drinks, while Reckitt credits its success in the Indian market to better store execution and wider distribution.