India marching towards inclusive growth despite global uncertainties: HUL Chairman

New Delhi, July 1 (IANS) Despite global uncertainties, the Indian economy is moving steadily towards sustainable and inclusive growth, Hindustan Unilever (HUL) Chairman Nitin Paranjpe has said.

Paranjpe said that although the world is facing confusion and instability, India continues to grow with confidence.

“We are building capabilities to meet the needs of a changing and ambitious India. At the same time, we are making sure that this growth is environmentally friendly and includes everyone,” he told at the company’s annual general meeting (AGM).

The country is currently one of the fastest-growing economies in the world. According to IMF estimates, the country is expected to grow at around 6.3 per cent in the financial year 2025-26.

India’s GDP has more than doubled in the last 10 years -- from $2.1 trillion in 2015 to over $4.3 trillion in 2025 -- and is likely to overtake Japan soon to become the world’s fourth-largest economy.

Paranjpe also highlighted India’s progress in the digital space. He said that while the country missed out on the first three industrial revolutions due to poor physical infrastructure, it is now catching up during the fourth Industrial Revolution.

He credited this to India’s strong digital public infrastructure. “By 2030, 69 per cent of our population will be of working age. With a median age under 29 and the lowest dependency ratio, India is set to remain the largest supplier of human talent,” he added.

Talking about changes in consumer behaviour, Paranjpe said that Indian consumers are now seeking holistic wellness.

He said that consumers are looking for new products, better experiences, and have rising aspirations.

“As a company that serves these evolving needs and partners in the country’s growth journey, we carry a big responsibility,” he told shareholders.

Paranjpe also spoke about HUL’s growing focus on digital marketing and improving customer experience both online and offline.

He mentioned the company’s new Premium Retail Organisation (PRO), which is designed to meet shopper needs and expand the reach of HUL’s premium beauty products.

--IANS

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