A big consumer tide is coming to India. Who all will rise?
consumer business. Reliance Industries Ltd (RIL) is entering the consumer electronics and home appliances market with a new made-in-India brand Wyzr. RIL's retail unit, Reliance Retail, has just launched Wyzr air coolers and plans to extend the range to categories such as televisions, washing machines, refrigerators, air conditioners, small appliances and LED bulbs. Reliance Consumer Products (RCPL) has already been growing rapidly.
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The FMCG company clocked Rs 3,000 crore sales in FY24, its first full year of operations, ET has reported… To put in perspective RCPL's performance, Emami with five decades of operations reported Rs 3,400 crore sales in FY23, while oral care market leader Colgate-Palmolive (India) posted revenue of Rs 5,226 crore the same year which marked its eighth decade of operations.
India's another big conglomerate, the Tata Group, too is tapping the consumer business opportunity with a host of brands as well as a super app Tata Neu. These big industrial groups have an eye on the immense growth potential of India's consumer market which is growing rapidly.
The third largest consumer market
India is on track to become the third largest consumer market in 2026, overtaking Germany and Japan, and behind the US and China, as people in the affluent category increase, investment bank UBS said in its latest report released Monday. “As of 2023, there were an estimated 40 million people in India (4% share in the population of 15 years and
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