India’s Fast Moving Consumer Goods (FMCG) industry is showing signs of a revival, industry stalwarts from the sector said at CII’s National FMCG Summit held in Mumbai on December 18. “Since liberalization, the FMCG sector has made significant contributions to India’s growth story and the sector has persistently maintained robust double-digit growth rates,” said Bharat Puri, Chairman, CII National Committee on FMCG and Managing Director, Pidilite Industries. The sector, as a whole, is showing signs of a revival. The companies that are doing well are those that are innovative, that have built enduring brands, and are looking after our planet, Puri said. The FMCG industry employs close to three million directly and almost 10 million people indirectly. Nikhil Prasad Ojha, Partner, Bain & Company, also said that though growth has slowed down over the last six quarters, “We are now seeing some green shoots. There is light at the end of the tunnel.  We expect the FMCG industry to regain stronger growth sometime in 2020.” He said the industry also played a role in the slowdown, pointing to companies that cut down on advertising, innovations and new product launches.

(Moneycontrol)