Consumer firms are ramping up production while retailers are increasing stock orders compared to last year as the festival season gains momentum across various regions of the country.
Firms in fastmoving consumer goods (FMCG), consumer durables, and retail sectors are responding to a spike in demand, buoyed up by the festive atmosphere.
Biscuit maker Parle Products has boosted production by 10-15 per cent year-on-year, up from the 5-7 per cent hike during the same period last year. "We've already noticed a strong rise in demand since the onset of the festival season with Raksha Bandhan," said Mayank Shah, vice-president (V-P) at Parle Products. "We foresee even greater demand compared to last year."
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