Rural market at inflection point offers headroom, long-term potential for growth: Marico MD & CEO
Marico M D & CEO Saugata Gupta. The hinterland, with its large population base and rising disposable income offers 'headroom for growth' for FMCG as people there now aspire for the same brands of products as other markets Gupta told PTI.
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Per capita income is on the rise, helped by the government's spending on infrastructure, and an increase in the minimum support price of crops, which has helped in a significant uplift in terms of quality of life for the rural class, he said.
«So, I believe that this is an inflexion point,» said Gupta adding «for the large FMCG players this is an opportunity to continue to invest in rural because if you really look at it, everybody is chasing that same urban consumer whether it's D2C brands or international brands.»
Marico is present in the rural markets with price point packs and Gupta believes «if you invest ahead of the curve, it has far more long-term potential and headroom for growth.'
However, he also added that „affordability and availability“ will always remain an important aspect for those markets.
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