India Emerges as Top Growth Market for Global Brands

Major global brands such as Apple and Unilever have hailed India as their top growth market in the June quarter, despite rising inflationary pressures. Apple's CEO Tim Cook announced record revenue for the company in India, with double-digit growth across most emerging markets.

The Hershey Company's CEO Kirk Tanner also highlighted India as one of its strongest performers this year, saying 'demand is running ahead of plan'. Unilever reported 10% growth in India, while Reckitt saw high single-digit growth. Other companies such as L'Oreal and Mondelez International also recorded significant growth.

However, industry executives have flagged key headwinds including the risk of an El Nino weather pattern this year, additional inflationary pressures stemming from the West Asia conflict, and rising input costs that could weigh on consumption in India over the coming months. Apple's India growth is expected to moderate to single-digit volume growth and double-digit value growth.