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Amidst global macro-economic headwinds involving tariff uncertainties and concerns around consumption, global consumer products companies express confidence in the India growth story
Amidst global macro-economic headwinds involving tariff uncertainties and concerns around consumption, global consumer products companies have expressed confidence in the India growth story, despite sluggishness in urban demand. Companies such as Coca-Cola, Unilever, Reckitt, PepsiCo and Costa Coffee continue to have a bullish outlook for India.
Speaking on the Q1 earnings call, Srinivas Phatak, Acting Chief Financial Officer, Unilever, said that India is “a very strong business” and “a consistent performer.”
“When we really look at the macro-economic environment, there are no new headwinds for us. I think that’s an important element to call out. And there are potential tailwinds, there are benefits coming from the government incentives, tax relief, lower food and lower oil inflation and many factors which are playing not only to drive core but also to lead market development,” he added.
“When we look at it in its totality, I think this is a market where we will be unblinking in our defence, and when we get our growth engine moving up, we know how to really make money here and how really to drive earnings ahead of growth. So all in all, we are very confident both on the growth profile, as well as on the margin profile for India,” Phatak added.
Growth story intact
For beverage major Coca-Cola, India business garnered double-digit volume growth in the March quarter. “India had a really good start of the year, as we activated a number of initiatives in the marketplace… Our long-term thesis remains intact. Obviously, it’s not necessarily always going to be a straight line,” James Quincey, Chairman and CEO, The Coca-Cola Company, said earlier this week.
British consumer products company, Reckitt, recently said that its Dettol portfolio is gaining share and is doing well in markets like India. Kris Licht, CEO, Reckitt, said that the company has seen “some really strong volume growth” in emerging markets led by China and India in the Germ Protection and Intimate Wellness spaces. “Now, of course, these economies may also not be immune to any shocks that could roll through the global economy. But we fully expect sustained strong volume growth in China and India and in other Emerging Markets as we go through this year,” he said in the earnings call last month.
PepsiCo said India was among the markets that fuelled the growth for its international business in the March quarter and that the market is in “a good place”.
On Wednesday, Philippe Schaillee, Global CEO, Costa Coffee, said the cafe-chain aims to make India among its top five markets in the next five years and remains bullish on its long-term outlook.
Published on May 1, 2025
This article first appeared on The Hindu Business Line
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