FMCG Companies Aim for Higher Growth as GST Reduction Boosts Consumer Spending
As the prices have become more stable and GST reforms are helping the market, people in both urban and rural areas are spending more easily. It has pushed the Fast-Moving Consumer Goods (FMCG) companies to aim for higher growth.
The companies are looking to take advantage of this growing consumer spending by creating products and services that meet the changing tastes of consumers. At the same time, they aim to build a responsible and reliable supply chain.
Some recent reports reveal that the new GST reforms have made a strong base for increasing the consumption-driven growth in India. These changes are seen as a big boost for demand, especially with the tax relief given to important sectors like FMCG.
The Ghodawat Consumer Limited, one of India’s fastest-growing FMCG firms, is now working on innovation, inclusivity, and sustainability to build a stronger and future-ready FMCG business. With the stable growth, the company plans to expand further and achieve Rs 1,500 crore in revenue in the next three years. For over twenty years, the company has built a strong reputation in major regions like Maharashtra and Karnataka. GCL is now focusing more on online sales, as more and more customers are choosing to shop on the internet. The company sees this as a major opportunity for stable and strong growth.
CGL’s success is because of the regional promotions, well-known brand ambassadors, and a strong focus on digital platforms. Each year, the company spends more than Rs 25 crore on marketing and uses real-time data to expand the campaign’s impact.
It is expected that the new GST rates could lead to more spending, up to Rs 70,000 crore to Rs 1 lakh crore from September onwards.
