AI, Omnichannel, and Bharat-First Growth Power India's Startups: Meta-A&M Report
Nearly all are expanding into Tier 2/3 cities, and 52% are going global. With insights from 100 high-growth startups, the report reveals how digital tools and localized strategies are powering India's next wave of entrepreneurial growth—making scale, speed, and sustainability central to the country's evolving startup narrative.
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Time of India
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India-China Bromance Makes U.S. 'JEALOUS'; Trump Cries Foul As Putin's Team Gets Stronger
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The Hindu
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India signs Terms of Reference for trade deal with Russia and others
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Mint
18 minutes ago
- Mint
The downside of FMCG giants' dominance
In India's fast-moving consumer goods (FMCG) sector, a few companies dominate everything from food and beverages to personal care and household products. Their control shapes what's available on shelves and influences how those products are made and marketed. Nestlé is a leading player in India's food and beverage market, with a stranglehold on multiple categories: Maggi – Commands over 60% market share in instant noodles. Cerelac – Dominates infant cereals with a staggering 97% share. Lactogen & NAN – Collectively hold 64% of the market in infant formula. KitKat, Munch, Milkybar – Controls 73% of the branded chocolate segment. Nescafé – Leads the instant coffee market. Nestle's products are so deeply rooted in Indian households that skipping them on store shelves is nearly impossible. P&G dominates household and personal care with brands that enjoy near-monopoly status: Whisper – Holds over 50% of the sanitary napkin market. Gillette – Market leader in razors. Pampers - 40%+ market share in diapers.. By offering multiple pack sizes, the company ensures visibility across both urban and rural markets, squeezing out smaller players. While globally known for beverages, PepsiCo earns nearly 80% of its India revenue from snacks: Lay's – Controls 30% of the potato chips market. Kurkure – Leads in savoury snacks. Beverages (Pepsi, Mountain Dew, 7Up, Tropicana) – Secure prime shelf space nationwide. PepsiCo's aggressive retailer incentives push out smaller competitors, making it difficult for regional brands to survive. HUL is India's largest FMCG company, with a portfolio spanning soaps, detergents, tea, skincare, etc. Lux, Dove, Lifebuoy, Fair & Lovely - Dominate their respective segments. Surf Excel - Lead the detergent segment with 40%+ market share. Brooke Bond, Kissan - Stronghold in tea and jams. Its mini-SKU strategy, especially soaps and shampoos, ensures deep rural penetration, helping HUL maintain a dominant position across these categories. Originally a tobacco giant, ITC now rules multiple FMCG categories: Aashirvaad Atta – Commands 52% of branded packaged wheat flour. Classmate – Leads student stationery with 25% market share. Sunfeast & Bingo - Acquire shelf space rigorously in biscuits and snacks. ITC has built a strong presence across categories by offering a wide range of products and utilising its vast distribution network, ensuring consistent visibility and availability of its products Profit Repatriation & Drain on Foreign Exchange: Big FMCG MNCs transfer a large share of their profits to parent companies abroad through dividends or royalty payments instead of reinvesting in India. These outflows weaken the current account balance and strain foreign exchange reserves, leaving the economy more exposed to external shocks. For instance, as per Finology Research Desk, Hindustan Unilever repatriated over ₹ 7,000 crore in dividends in 2024-25, while Nestle India pays 4.5% of its sales as royalty to its Swiss parent Nestlé S.A. Squeezing Out Local MSMEs & Domestic Brands: MNCs use their financial muscle, economies of scale, and aggressive pricing to dominate markets, leaving domestic competitors gasping for market share. They secure prime shelf space through heavy retailer incentives, while local brands struggle for visibility. Nestlé's Maggi, for example, controls 60% of India's instant noodles market, overshadowing domestic players like Ching's and Top Ramen. Likewise, PepsiCo and Coca-Cola have pushed traditional drinks like sharbat, lassi, and coconut water out of urban markets through relentless marketing and distribution, leading to job losses in these industries and making it very difficult for homegrown brands to sustain. Trade Deficit & Import Dependence: Many multinational corporations in India depend heavily on imported raw materials such as palm oil, chemicals, and packaging, even when these are available locally. For example, Nestlé imports milk powder from various countries despite India being the world's largest milk producer, while FMCG majors like P&G and HUL source synthetic ingredients from abroad for personal care and home products. This reliance raises India's import bill, worsens the trade deficit, and strains the balance of payments. Rather than strengthening local industries, it deepens dependence on foreign supplies and undermines the government's "Make in India" initiative. The Illusion of choice: Most brands on Indian store shelves may look different, but they usually trace back to the same parent companies. Nestle owns Maggi, Nescafé, KitKat, and Cerelac, etc. HUL controls Surf Excel, Dove, Lux, Kissan, and Brooke Bond. Snacks like Lay's and Kurkure belong to PepsiCo. What looks like variety is in fact a handful of corporations collecting profits, leaving customers with fewer real choices than they realise. Most brands on Indian store shelves may look different, but they usually trace back to the same parent companies. Nestle owns Maggi, Nescafé, KitKat, and Cerelac, etc. HUL controls Surf Excel, Dove, Lux, Kissan, and Brooke Bond. Snacks like Lay's and Kurkure belong to PepsiCo. What looks like variety is in fact a handful of corporations collecting profits, leaving customers with fewer real choices than they realise. Pricing manipulation: Large FMCG companies often exploit consumers by either raising prices or shrinking product sizes while keeping the price fixed, a tactic called shrinkflation. In 2023, Hindustan Unilever (HUL) increased prices across personal care and food products while also cutting pack sizes. Brands like Lay's and Parle-G have followed the same approach for years, reducing quantity while keeping the prices the same. With tight control over retail shelves and strong consumer loyalty, these changes often go unnoticed until buyers realise they're getting less for the same money. Since these corporations hold near-monopoly power, consumers have no other choice but to accept the downgrade. Large FMCG companies often exploit consumers by either raising prices or shrinking product sizes while keeping the price fixed, a tactic called shrinkflation. Unhealthy & Substandard Product Formulations: Many MNCs sell nutritionally inferior versions of their products in India compared to Western markets. Kellogg's breakfast cereals, for example, contain far more sugar in India than in other countries. Similarly, Nestlé's Cerelac baby food, marketed as a healthy choice, adds nearly 3 grams of sugar per serving in low-income countries, an ingredient directly linked to rising childhood obesity. These double standards in food standards fuel growing health issues, including diabetes and malnutrition, as these giants continue to prioritise profits over consumer well-being. These giants don't just sell products; they control what we see, buy, and trust. Through shelf dominance, aggressive pricing, and marketing muscle, they squeeze out competitors and manipulate consumer choice. The result is an illusion of variety where real options are limited, prices can be manipulated, and local alternatives that could foster innovation struggle to survive. Finology is a SEBI-registered investment advisor firm with registration number: INA000012218. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
