Nestle CMD Suresh Narayanan is optimistic about India's robust consumption story

Suresh Narayanan, the Chairman and Managing Director of Nestle India, shed light on the challenges and dynamics of the Indian consumption market during a fireside chat at The Growth Summit in Delhi on Wednesday. The event was presented by YES BANK and CNBC-TV18, with Managing Editor Shereen Bhan moderating the discussion.

Narayanan highlighted India's robust long-term consumption story, emphasising the pivotal role played by the middle and upper-middle class in driving consumption trends. Despite the promising outlook, he acknowledged the existence of challenges within the market, particularly in what he referred to as the "belly of the market".

During the discussion, Narayanan pointed out a fundamental issue affecting consumption in India—food inflation. He expressed concern about the adverse impact of rising inflation on consumer spending patterns and outlined the challenges faced by companies, including Nestle, in navigating these economic headwinds.