08 November 23
PERFORMANCE AMONG THE BEST ACROSS ALL EMERGING MARKETS.
Growth in double digits for many MNCs in July-Sept quarter
Kolkata Mumbai: The Indian market has outperformed the rest of Asia Pacific including China for some of the biggest global consumer goods companies in the past quarter, according to their post- earnings management commentaries. Several of these companies, including Mondelez International, PepsiCo, Coca-Cola, Pernod Ricard, Colgate-Palmolive, Unilever, Levis Strauss & Co, Yum! Brands, Honeywell International and AO Smith, reported strong growth going up to double digits in their India businesses in the July- September quarter. The India performance was also among the best across all emerging markets for these multinationals.
Apple and Coca-Cola posted their highest sales and volume performance in several years, while alcohol beverage majors Pernod Ricard and Budweiser Brewing Company said they expect the India business to drive their global numbers this fiscal year due to strong trends of product premiumisation. The top executives of these companies said demand in India remained very strong. Snacking giant Mondelez’s chairman and chief executive Dirk Van De Put said consumer demand in India in the past quarter was at a four-year high. Coca-Cola chairman and CEO James Quincey said the company is seeing “consumer strength across Latin America, India and in parts of Central and Southeast Asia.
Realtors Put Lock on Festive Offers
Real estate developers are avoiding festive offers this season due to the rapid oversubscription and quick sales of projects, unlike in the past when home purchases included incentives like TVs, AC units, cars, and even foreign trips.
Source- The Economic Times