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Food for Thought: Slowdown in FMCG sector is temporary, say industry leaders

Economic slowdown seems to have percolated now from real estate to automobiles to employment concerns and food. So when it comes to food, there is a bit of a questionmark in the minds on what is the extent of this slowdown and where are we headed from hereon? Hemant Malik, CEO-Foods business of ITC, Varun Berry, MD of Britannia, Mohit Anand, MD-India and South Asia of Kellogg’s, Simon George, President of Cargill India and RS Sodhi, MD of Amul shared their views and outlook.

By Manisha Gupta  Sept 2, 2019 4:42:56 PM IST (Published)

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The food industry is concerned over the economic slowdown despite record grain production, as the downturn seems to have percolated from real estate and automobiles to employment and food sales.
So when it comes to food, there is a bit of a question mark in the minds of people on the extent of the slowdown. Hemant Malik, CEO-Foods Business of ITC, Varun Berry, MD of Britannia, Mohit Anand, MD-India and South Asia of Kellogg’s, Simon George, President of Cargill India and RS Sodhi, MD of Amul, shared their views and outlook.
“The growth continues in our premium products, but mass and basic products are affected. Still we should not be far from a double-digit growth for the industry, which is reasonable,” said Malik.