U.K.-headquartered Anglo-Dutch company Unilever is bullish on India’s conusmer market.
Sanjiv Mehta, chairman and managing director, Hindustan Unilever Ltd., said, “For Unilever, India is currently the largest market in volume terms and the second largest in value terms, and in the very near future we clearly see a day when we would become the largest market for Unilever in the world.” He added that the country’s consumption story is fueled by rapid urbanization, growing organized retail and e-commerce, as well as rising affluence.
A report released by trade body FICCI and Deloitte estimates that the Indian retail market will reach $1,200 billion by 2021 and $1,750 billion by 2026. It also noted that while the share of the organized retail and e-commerce channel is likely to increase, traditional retail will continue to hold a major share of this sector.
