Importance of FMCG Companies in India
The stability of an economy depends upon the diversity of its industrial base. Along with heavy industries, a country also needs enough production of FMCG products to meet the needs of the people.
FMCG stands for fast moving consumer goods, i.e., the daily items that we need to use in our everyday life. India has a very strong base for producing FMCG goods. It has attained self sufficiency in producing all that are needed in managing daily life. It has shown immense growth potential over the years and is growing steadily at present. The FMCG industry of India is the fourth largest industry in the country. The current value of the industry stands at US$13.1 billion. The large base of FMCG industry is now producing wide range of food, toiletries, soap, body wash, shampoos, cosmetics, toothpastes, shaving products, detergents, bulbs, batteries as well as electronics products. The FMCG market of India is expected to grow to emerge as a US$ 33.4 billion industry by 2015.
The middle income group and the rural population are said to be the most potential market for FMCG products. The fast urbanization is working as the catalyst for the growth of the industry. The rural market is catching up fast and most of the products that are available in the big cities have also paved their ways to rural households.
The strong sign of the economy is proving beneficial for the FMCG companies in India and many of them are diversifying their base to cater to the larger section of consumers. Further, seeing the potential of the Indian market, many foreign MNCs are also trying to penetrate into Indian market. As a result, the choices before the consumers have widened.
The current trend of the market shows that big farms are turning into world players and the small companies catching up fast with them. The study of the market shows that the following factors have contributed to the growth of FMCG industry in India.
Large base of consumer – The exploding population of the country has worked in favor of the growth of the industry. The FMCG companies of India enjoy a continuously growing consumer base.
Purchasing power – Over the years, the purchasing power of the Indian population has grown manifold and due to this the demand for FMCG products has also gone up. This is also encouraging the FMCG companies to introduce newer products to satisfy the changing taste of consumers.
Competitive market: The Indian FMCG market is extremely competitive. Even the top companies are finding it difficult to retain their top position in the market because of fierce competition. New companies are coming up regularly, forcing the established companies to improve on their current product range.
Media: Television now has reached even the most interior parts of the country and as a result, commercials are enticing new consumers to try new products thereby improving the demand for FMCG goods even in the rural areas of India.
Following is a list of the top FMCG companies in India:
- Hindustan Unilever Ltd.
- ITC (Indian Tobacco Company)
- Nestlé India
- GCMMF (AMUL)
- Dabur India
- ADF Foods Ltd
- Agro Dutch Industries
- Anik Industries
- Assam Company India Ltd.
- Asian Paints (India)
- Britannia
- Cadbury India
- Colgate-Palmolive (India) Ltd
- Britannia Industries
- Dabur India Ltd.
- Procter & Gamble Hygiene and Health Care
- Marico Industries
This has also widened the scopes for employment in the FMCG industry. Given below is a list of jobs in India, available in the FMCG industry:
- Sales
- Supply Chain and Distribution
- Finance
- Marketing
- Operations
- Logistics
- Purchasing
- Advertising
- Brand Management
- Human Resources
- Product Development
- General management
- Santhosh and Sowmya Reddy
