GST cut drives FMCG growth in first quarter: Consumers buy more soaps, snacks and staples
Consumer demand for daily necessities and groceries saw a significant volume increase in October-December, following GST rate reductions on several items. This pickup in sales, with volumes rising 9-10%, indicates a revival after an inflation-led slowdown. The positive trend is expected to continue, driven by factors like income tax benefits and cooling commodity prices.
Sales of daily household necessities and groceries saw stronger volume growth during October-December, compared with a year ago, reflecting a pickup in demand after the goods and services tax (GST) was lowered on a number of items from September 22.
