Epowering the Essentials: A Deep Dive into India's FMCG Workforce' report by recruitment and human resources services company TeamLease provides an in-depth analysis of the current state of the fast-moving consumer goods (FMCG) sector in India and highlights future trends, focusing on the sector's workforce dynamics.
The report gives an overview of the sector, highlighting its contribution to the Indian economy, market size, segmentation, and workforce composition. It also delves into various vectors influencing the segment, such as political, economic, social, technological, environmental, and legal factors.
India being the fifth largest economy witnessed a GDP growth of 7% in FY23, which is the highest among major economies. Out of which FMCG accounts for 50% of rural spending as it is the fourth-largest industry, employing 3 million people. Growth fueled by consumers, the industry has grown due to higher rural consumption, disposable income, and living standards. BY 2025, the FMCG market is predicted to grow by 14.9% Compound Annual Growth Rate (CAGR) to $220 B, from $167B in 2023.
Progressive State of FMCG industry
PLI Scheme: The $963 billion processed food business is expected to grow 7% to $1.2 trillion in five years. In FY22, the government of India established a $1.4 billion Production Linked Incentive (PLI) Scheme for the food processing industry as part of Made in India campaign. The program invested ₹71.26 billion in food processing and generated ₹4,98 billion in sales from April to September 2023.
ONDC Opportunity:
Introduction of new technologies and methods for small firms and retailers owing to the Open Network for Digital Network. This includes reducing platform dependence through specifications to encourage open and interoperate networks.
هذه القصة مأخوذة من طبعة July 2024 من Images Retail.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة July 2024 من Images Retail.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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