India remains bright spot of economic growth amidst volatile global environment: N Chandrasekaran
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India remains "one of the bright spots of economic growth" amidst a volatile global economic environment, said Tata Consumer Products Ltd (TCPL) Chairman N Chandrasekaran in the company's annual report. Chandrasekaran, who is also the chairman of Tata Sons and Tata Group, said the group would have a lesser impact from the new US tariff regime under the Trump administration."India's direct exposure to the US is limited as its goods exports to the US are just over 2 per cent of its GDP, one of the lowest among emerging markets," he said while addressing the shareholders of Tata Group FMCG arm TCPL.Chandrasekaran stated that India's long-term growth is underpinned by strong demographic and economic fundamentals and ongoing structural reforms."India's near-term macro-outlook remains strong with stable growth expectations in 2025, falling inflation, and ongoing monetary easing," he said.Over the consumer trends, Chandrasekaran said premiumisation, health & wellness, and convenience are gathering pace in the FMCG industry. Quick commerce has seen exponential growth, yet physical distribution remains extremely relevant at the same time," he said adding to tap these opportunities, TCPL has adopted an omnichannel strategy.Chandrasekaran also highlighted that Gen Z and Millennials are expected to contribute to an increasing share of consumption, by some estimates, 76 per cent of the total consumption by 2030."This presents an opportunity for cooking aids, packaged food, healthier & guilt-free snacking, and mini-meal options, all of which we have added to our portfolio in the last few years. The innovation capability we have built along with our portfolio transformation initiatives over the past few years positions us well to leverage these emerging trends," he said.TCPL, which has brands like Tata Salt, Tetly, Sampann, Soulfull, Tata Coffee, and Eight O'clock, has an "overarching ambition" to evolve into a full-fledged fast-moving consumer goods (FMCG) company, he said."With the FMCG landscape evolving rapidly, it is critical for brands to be present everywhere the consumer is. In India, we continued to make strong progress in our sales and distribution expansion, with a total reach of 4.4 million retail outlets," said Chandrasekaran.The company has completed the implementation of a next-gen Distributor Management System to further enhance salesforce productivity."Modern trade and E-commerce/Quickcommerce continue to be strong growth drivers, and we have started building pharmacy and HoReCa channels," he said.
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