Sunil Agarwal, Chairman at RSH Global
Sunil Agarwal, Chairman at RSH Global, says, “Packaged food, ready to eat products, personal hygiene products like sanitizers and disinfectants were some of the products that did well through the pandemic. The FMCG sector as a whole proved that it is adaptive to changing consumer behavior. The year of the pandemic pushed companies to innovate and accelerate new launches.
While the focus for the budget this year is likely to be on healthcare, other industries will also need a boost. An increase in government spending and incentives to provide stimulus is going to be the key to a market revival. Slashing income tax slabs will put more disposable income in the hands of consumers, which may accelerate consumption. We expect budget 2021 to improve overall consumer sentiment and spur consumption across target classes.
As the COVID-19 vaccine drives begin, we are hoping for 2021 to bring sustained revival and even growth. Our focus through the past year has been on strengthening our distribution channels and being present across platforms and accessible to our customers. The vaccine will eventually enable movement and the return to normalcy, which will also be a factor for revival.
There has also been an upheaval in demand for natural products, and immunity-boosting products with natural ingredients, both for personal use and for the well-being of the household. We have always had a product portfolio of natural ingredients and also ventured into personal hygiene products in the last year. We see this trend as something that would stay, going forward into the next financial year. All-in-all, we look forward to carrying on with the momentum and sustained revival across categories in the next financial year.”
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