Indian Economy News

India is seeing a consumption boom amid surging workforce and infra thrust: P&G India CEO

According to Procter & Gamble’s (P&G) Chief Executive Officer (CEO) Mr. L.V. Vaidyanathan, the demographics and increasing workforce in India, together with the government's rapid investment in physical infrastructure, have been driving consumption over the past few years.

As per the company, a number of factors are working in India's favour. These include physical infrastructure, particularly the push into rural areas, which is creating jobs, as well as digital infrastructure that is already in place and the number of insights across various dimensions that are very different from any other markets. 

Over the past two decades, the Indian division of the second-largest consumer products manufacturer in the world has invested over    US$ 2.44 billion (Rs. 20,000 crore) in the nation, which is already among its top 10 markets globally.

P&G, which has annual revenues of US$ 1.95 billion (Rs. 16,000 crore), primarily competes with Hindustan Unilever (HUL), a local subsidiary of Unilever that is almost four times bigger. Despite being the industry leader, the company has steadily increased its market share in the sectors of shaving razors and sanitary napkins.

The company has made rapid strides in improving availability with a reach of almost 6 million stores and a direct network of 2.5 million stores.

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