ONCE THE BACKBONE of domestic consumption, India's middle class, which represents 31% of its population, is cutting back sharply on daily and discretionary expenditure. The warning bells were first sounded by Nestle India's chairman and MD Suresh Narayanan, a company best-known for its brand of noodles (Maggi), instant coffee (Nescafe) and chocolates (KitKat) among other products. Narayanan said that the 'middle segment' of consumers, a key category for most fast-moving consumer goods (FMCG) companies, was shrinking, resulting in diminishing fortunes for these firms.
This story is from the December 25, 2024 edition of Financial Express Ahmedabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 25, 2024 edition of Financial Express Ahmedabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Shyam Benegal cremated with full state honours
Veteran filmmaker Shyam Benegal, a pioneer of India's parallel cinema movement in the 1970s and 1980s, was cremated on Tuesday with full state honors and a three-gun salute.
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
Champions Trophy: India to play Pakistan on Feb 23
INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
₹2-cr fine on Deloitte Haskins for Zee audit
The National Financial Reporting Authority (NFRA) imposed a ₹2 crore fine on Deloitte Haskins for their audit of Zee Entertainment Enterprises Ltd. (ZEEL), citing gross negligence and failure to apply professional skepticism.
Labour-intensive exports: Gains likely to be short-lived
India's labor-intensive exports, while showing some recent gains, are likely to be short-lived due to various factors, including the need for greater competitiveness and a wider product mix.
Local satellites push draws 30 aspirants
The applicants for INSPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.
EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.
Economists for FTAs, land & labour reforms
RCEP was signed by the group of countries in November 2020 except India.
Uniting for greater good
COLLABORATIVE PHILANTHROPY IS not a new idea.
