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Sales of products like biscuits, soaps to go up by 11%

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Inflation has not shown much of an effect on the FMCG sector, and during the current financial year, that is till March 2023, the sales of FMCG products is expected to increase by 7-9%, and the sales of the companies in the organized sector can increase more than this, that is up to 9-11%. In recent quarters, large companies in this sector have been rapidly capturing the unorganized sector.

Across the country, especially in urban areas, the demand of daily consumption goods (FMCG) like biscuits, soaps, and tooth pastes, is augmenting. In the meanwhile, FMCG companies have adopted an expansion strategy by acquiring several big and small brands. As per rating agency CRISIL, during the next financial year as well, the FMCG sector’s growth is expected to remain at 10%. CRISIL added that during the financial year 2021-22, FMCG companies in the organized sector had made sales of 4.7 lakh crore rupees in total, and in the current financial year, this number is expected to reach 5.12 lakh crore rupees, while inflation remains around 6%.

Anuj Sethi, Senior Director, CRISIL, said that during the last 12 months, inflation did not impact the demand of FMCG products in urban areas much, and therefore, the sales are good. But in rural areas, the demand is a little sluggish.

 

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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