The Indian consumer goods industry holds huge potential for growth as affordability is increasing and size of the low income segment is shrinking, according to R K Shukla of National Council for Applied Economic Research.
He was speaking at a panel discussion on investment opportunities in India in Singapore.
Shukla, however, said that this not necessarily be beneficial to all segments of the consumer industry, adding that while the auto industry has seen stable growth, fast moving consumer goods companies have faced a downturn.
Speaking about the consumer products industry, Adi Godrej of Godrej Consumer Products said a uniform tax structure and reduction in value-added and other taxes would help the industry in the coming days.
S P Mustafa, group treasurer and head (M&A and Investor Relations) of Hindustan Lever, said the industry faced challenges from domestic and global markets. He added that the potential was large and it had global competencies.