The Government of India’s FMCG committee is positively involved in the issues related to policy & strategy, capacity building and global recognition to the Indian FMCG industry. The policy and strategy agenda include taking steps to stimulate the growth of the industry, implementation of taxation related issues, addressing the regulatory concerns and expanding the horizon of industry by taking up the issues of direct selling distribution model.
The renewal of the agriculture sector could open up chances for developing a number of other businesses in the food industry, such as integrated cold chains, mega food parks and process able varieties of crops, among many others. To promote food processing industries in India, the latest report on FMCG from government department, which predicts triplicating the size of the FMCG division by increasing the level of processing of perishables from 6 % to 20 %, value addition from 20 % to 35 % and share in global food trade from 1.5 % to 3 %, by 2015.
The overall fast moving consumer goods market is expected to increase at a rate of 14.7 % to 6,600 Crore during 2012–2020, with the rural FMCG market expected to increase at a compound annual growth of 17.7 % to approx.6,000 Crore during 2011–2025.Rising incomes and growing youth population have been key growth drivers for the sector. Brand consciousness has also aided demand. It is estimated that First Time Modern Trade Shoppers spend will reach approx.600 Crore by 2015.
The industry has professed healthy foreign direct investment inflow, as the sector accounted for 3 %of the country’s total foreign investment inflow in the period last thirteen years. Organized retail share is expected to double to 14–18 % of the overall retail market by 2015.
The Government of India has approved 51 % foreign investment in multi-brand retail, which will boost the nascent organized retail market in the country. It has also allowed 100 % foreign investment in the cash and carry segment and in single-brand retail. The government has also amended the Sugarcane Control Order, 1966, and replaced the Statutory Minimum Price of sugarcane with Fair and Remunerative Price and the State Advised Price.
At Trove Consulting, we simply have been moralizing consents in Concentrating Professional Centers Besides executive recruiting, we also advise them on succession planning. Our industry ability to do things very well, acting to prevent problems before they happen approach, and long term association with leading companies position us as the recruiter of choice.