Why India's FMCG growth is slowing, despite high demand
Kotak's Sanjeev Prasad explains the FMCG slowdown as a mix of affordability pressures, weak job creation, and market disruption. Despite strong brand presence, incumbents face rising competition, shifting consumer behaviour, and diluted pricing power. While rural demand is recovering, the outlook for mass-market consumption remains muted unless deeper structural issues are addressed.