Is India Advancing Towards Inclusive Growth Amid Global Challenges?
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Synopsis
Explore how India's economy is navigating global uncertainties towards sustainable growth, with insights from HUL Chairman Nitin Paranjpe on digital advancements and consumer trends.
Key Takeaways
- India's economy is on a steady path to inclusive growth.
- HUL emphasizes environmentally sustainable practices.
- Digital infrastructure is crucial for India's progress.
- Consumer behavior is shifting towards wellness.
- HUL is enhancing its digital marketing strategies.
New Delhi, July 1 (NationPress) In the face of global challenges, the Indian economy is on a steady path towards sustainable and inclusive growth, according to Nitin Paranjpe, Chairman of Hindustan Unilever (HUL).
Paranjpe noted that despite worldwide confusion and instability, India continues to progress with confidence.
“We are developing capabilities to cater to the demands of a dynamic and aspirational India. Simultaneously, we are ensuring that this growth is environmentally sustainable and inclusive,” he stated during the company’s annual general meeting (AGM).
Presently, India ranks among the fastest-growing economies globally. The International Monetary Fund (IMF) predicts a growth rate of approximately 6.3% for the financial year 2025-26.
India’s GDP has more than doubled over the past decade, soaring from $2.1 trillion in 2015 to over $4.3 trillion in 2025, with expectations to surpass Japan soon, making it the world’s fourth-largest economy.
Paranjpe also pointed out the advancements in India’s digital landscape. He mentioned that while the country lagged in the first three industrial revolutions due to inadequate physical infrastructure, it is now catching up during the fourth Industrial Revolution.
This progress is attributed to India's robust digital public infrastructure. “By 2030, 69% of our population will be of working age. With a median age below 29 and the lowest dependency ratio, India is poised to be the largest supplier of human talent,” he added.
Discussing shifts in consumer behavior, Paranjpe emphasized that Indian consumers are increasingly pursuing holistic wellness.
He remarked that consumers are on the lookout for innovative products, enhanced experiences, and have elevated aspirations.
“As a company that addresses these evolving needs and collaborates in the country’s growth journey, we bear a significant responsibility,” he informed the shareholders.
Paranjpe also highlighted HUL’s intensified focus on digital marketing and enhancing customer experiences both online and offline.
He introduced the company’s new Premium Retail Organisation (PRO), designed to meet shopper needs and broaden the reach of HUL’s premium beauty products.
Point of View
It is essential to recognize India's unwavering commitment to inclusive growth, showcasing its resilience amidst global challenges. This narrative aligns with our belief in fostering national progress while ensuring sustainability.
NationPress
01/07/2025
Frequently Asked Questions
What is the current growth forecast for India's economy?
The International Monetary Fund (IMF) forecasts India's economy to grow at approximately 6.3% for the financial year 2025-26.
How has India's GDP changed over the last decade?
India's GDP has more than doubled in the last ten years, increasing from $2.1 trillion in 2015 to over $4.3 trillion in 2025.
What role does digital infrastructure play in India's growth?
India's robust digital public infrastructure is pivotal, facilitating progress during the fourth Industrial Revolution.
What are the emerging trends in Indian consumer behavior?
Indian consumers are increasingly seeking holistic wellness, innovative products, and enhanced experiences.
How is HUL adapting to changing consumer needs?
HUL is focusing on digital marketing, improving customer experiences, and has introduced a Premium Retail Organisation to expand its offerings.
