ITC : Bridging Consumer Needs with Sustainable Innovations

Fast-moving consumer goods, or FMCG, is one of India’s fastest growing industries, being fuelled by an ever-growing middle class, rising disposable income, and rapid urbanization. The market is expected to reach $616 billion by 2027 propelled by domestic and international brands with innovative products. E-commerce penetration, government initiatives such as Make in India, and rural development programs are continuing to influence the growth of the market.

Although this is a good prospect, the industry has its share of challenges. With so many products similar to one another in the market, one must pay attention to what they are. As the buying power gets affected by the vacillations of the economy, customers now look for value for their money. With regard to trust, quality, and sustainability are still major issues, particularly for rural areas. In addition, product availability in remote locations is usually fragmented, which leads to inconsistent distribution across the...