FMCG Price Slash Sparks Consumer Celebration with GST 2.0 Benefits
FMCG companies have cut prices on daily essentials and food products, extending GST 2.0 benefits to consumers. This initiative aims to boost consumption and sales during the festival season after tackling high food inflation. Revised price lists include essential items like toiletries, snacks, and beverages.
- Country:
- India
In a move expected to boost consumption during the festive season, leading FMCG companies have slashed prices on daily essentials and food products, extending the benefits of GST 2.0 to consumers. The reduction in costs coincides with the start of Navratra celebrations and is anticipated to increase sales.
FMCG firms have swiftly implemented immediate price reductions without disrupting the market, also offering special discounts for the holiday season. Despite previous challenges such as persistent food inflation and sluggish urban sales, the industry expects a strong growth phase.
Revised price lists have been released, covering products like soaps, toiletries, snacks, and beverages, effective from late September. The move aligns with a simplified GST structure, reducing tax burdens across many daily necessities. Consumers can expect lower prices on popular brands from companies like Dabur, Nestle, ITC, and Amul.
(With inputs from agencies.)
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