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.
この記事は Images Retail の July 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Images Retail の July 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Retail Sector Records Strongest Hi Leasing in 5 years: CBRE
Leasing in Bengaluru, Chennai, and Delhi-NCR accounted for 59% share during Jan-June 2024.
Lulu Mall Bengaluru Welcomes 5 New Brands
Lulu Mall, Bengaluru, operated by the multinational developer Lulu Group, has expanded its portfolio by welcoming five new retail brands, the company wrote on social media.
Gujarat gets its First IMAX at Palladium Ahmedabad
Mumbai-based PVR Cinemas opened a new theatre at Palladium Ahmedabad, a social media post by a company official.
Budget 2024-2025: What's in it for Retail?
An overview of all the retail ecosystem-related measures in the Budget 2024-2025 revealed by Finance Minister Nirmala Sitharaman in her 7th budget speech.
Identity As a Service (IDAAS) Simplified
An explainer on Identity and Access Management-As-A-Service (IDaaS) in the context of retail.
6 Ways in Which D2C Brands are Redefining Physical Stores
From quirky fixtures to restageable elements, D2C brands do it differently when they open brick-and-mortar stores
What Innovation Means for Different Leaders
A look at how representatives of different retail categories define innovation and how they approach and implement it in their businesses.
Elevating Experience Through Omnichannel Retail Strategies
Here's how retailers are blending online and offline to offer seamless and personalised customer experience.
How to Improve Customer Engagement with Generative AI
Ways in which retail businesses can embrace generative AI to create hyper-personalised, seamless conversations to secure a lasting competitive edge in the marketplace.
'Customers Do Not See Shoppers Stop.com as Just Another e-commerce Site'
Sreekanth Chetlur, Chief e-commerce Officer, Shoppers Stop speaks about the three-decadeold physical-first department store chain's e-commerce journey, goals and strategies