India is prepared to take charge of the fourth industrial revolution: Chairman of Hindustan Unilever Limited (HUL), Mr. Nitin Paranjpe

The Chairman of Hindustan Unilever Limited (HUL), Mr. Nitin Paranjpe claimed that India is well-positioned to lead the fourth industrial revolution despite missing out on the first and second industrial revolutions and being too young a country to benefit from the third.

At HUL's 90th Annual General Meeting, Mr. Nitin Paranjpe stated that this revolution "leverages technology in connection with the physical, digital, and biological worlds and is revolutionising numerous sectors throughout the world”. India is positioned to lead global growth because of expanding young population, focus on digital public infrastructure, and significant advancements in the adoption of renewable energy. Therefore, it is now time for us to all advance alongside the country.

The Chief Executive Officer (CEO), Mr. Sanjiv Mehta mentioned that the company successfully weathered the storms and improved your company's strength, agility, and future-readiness from the standpoint of both its capabilities and portfolio. He also quoted that the company is positioned well to harness the benefit of India’s growth. Under his guidance, HUL delivered a compound annual growth rate (CAGR) of 20% in sales and 13% in EBITDA, helped HUL record its highest market share in soaps, shampoo, and skin care while sales more than doubled from US$ 3.04 billion (Rs. 25,000 crore) to US$ 7.07 billion (Rs. 58,000 crore).

According to the largest manufacturer of consumer goods in the nation, the manufacturing sector faced numerous difficulties during the epidemic, including supply chain disruptions, narrowing margins, rising raw material costs, and geopolitical tensions.

Mr. Nitin Paranjpe added that resilient supply chains were the need of the hour, and this provided an opportunity for India. India’s skilled and semiskilled workforce is a valuable human resource. He further added that several policy decisions by the government including banking reforms, production-linked incentive (PLI) schemes, foreign direct investment (FDI) policy, and implementation of the Goods and Services Tax (GST) and initiatives such as Skill India and Digital India, provide a fertile ground for investors.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.