Tata Consumer Products chairman Mr. N. Chandrasekaran highlights India's long-term consumer market potential

Chairman of Tata Consumer Products Ltd (TCPL) and Tata Sons, Mr. N. Chandrasekaran, highlighted India's robust consumer market during TCPL's annual general meeting (AGM). He emphasized key growth drivers, including population expansion, the burgeoning middle class, rapid urbanization, rising disposable incomes, and increased consumer aspirations. Despite global economic volatility impacting supply chains and energy security, He noted India's strong economic performance, with a GDP growth rate of 8.2% for FY24, anticipating continued momentum.

He outlined TCPL's strategic initiatives at the AGM to leverage these favourable market dynamics. He highlighted recent acquisitions like Capital Foods and Organic India aimed to access high-growth, high-margin segments. TCPL has significantly expanded its distribution network to 4 million retail outlets across India and prioritized innovation, resulting in substantial revenue growth. He also spotlighted Tata Starbucks' achievements, including opening 95 new stores in FY24 and strong international performance.

In FY24, TCPL recorded revenues of US$ 1.82 billion (Rs. 15,206 crore), marking a 10% growth trajectory. Formed in 2020 through the merger of Tata Chemicals' consumer products division with Tata Global Beverages, TCPL manages a diverse portfolio of brands like Tata Salt, Tata Tea, Tetley, and Tata Starbucks. The company remains committed to advancing its digital transformation to sustain growth and enhance operational efficiencies in a competitive market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.