India can sustain over 8% GDP growth
Growing middle class, rapid urbanisation, increasing disposable incomes generating more consumer demand: N Chandrasekaran
image for illustrative purpose
India’s middle class is expected to grow from about 30% of the population to 50% by the end of this decade. That is about an additional 300 mn people, who will be entering the middle class - N Chandrasekaran, Chairman, Tata Consumer Products
New Delhi: India’s consumer market represents a long-term structural opportunity, driven by population, a growing middle class, rapid urbanisation, increasing disposable incomes and raising aspirations, Tata Consumer Products Ltd Chairman N Chandrasekaran said on Thursday.
The Tata group’s FMCG arm is well positioned to capitalise on the significant opportunity, he said, while addressing the annual general meeting (AGM) of TCPL. Chandrasekaran said the India economy has been growing very strongly and the current momentum continues to be high. India is likely to maintain similar growth momentum in the coming years, he said, adding that the global economic landscape has been rather volatile with the geopolitics reshaping supply chains, energy security, and overall resilience.
