India's Economic Bright Spot Amidst Global Volatility

India remains a beacon of economic growth amidst global volatility, according to N Chandrasekaran, Chairman of Tata Consumer Products Ltd (TCPL).

Chandrasekaran, also the Chairman of Tata Sons, noted that India's limited direct exposure to the US, with goods exports constituting just over 2% of GDP, shields it somewhat from overseas turbulence.

He emphasized India's strong economic fundamentals and the ongoing structural reforms that underpin long-term growth. Despite global challenges, India's near-term macro outlook appears robust, supported by stable growth expectations, decreasing inflation, and ongoing monetary policy easing.

Key consumer trends like premiumisation, health & wellness, and convenience are gaining traction in the FMCG sector. TCPL is adopting an omnichannel strategy to harness these opportunities, alongside significant contributions from Gen Z and Millennials to future consumption, projected at 76% by 2030.

Chandrasekaran reiterated TCPL's ambition to evolve into a full-fledged FMCG entity, striving to be omnipresent in India's retail landscape with 4.4 million outlets reached. Innovations such as a next-gen Distributor Management System aim to bolster productivity and capitalise on modern trade and e-commerce.

(With inputs from agencies.)