At an investor presentation, L’Oreal’s top management claimed that India is quickly developing into a hub for the beauty industry and that the firm had a fantastic year in India where it expanded two times faster than the market.\We have high expectations for India as a market since it is so promising. According to statistics, India will account for 20% of the global population and 30% of the skilled labor force by 2030. Thus, it will. Definitely be a factor in our growth. The middle class is expanding significantly, the company’s management noted.
Source: Ashwini VaishnawIn a recent earnings call, James Quincey, Chairman & Chief Executive Officer of The Coca-Cola Company, stated that its India business had a cracking year in 2022.
The beverage business has historically tended to accelerate its development at a level of GDP per head that the Indian economy and consumer base are reaching, in highest-level terms. So, the possibility of India creating a fantastic beverage sector and opportunity gives us great hope. India is a country that I believe is about to take off and illustrates the beverage industry’s potential to thrive over the long term, he added.
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