Consumer goods growth forecast in half
NEW DELHI: The impact of has led the market research company to cut back FMCG growth forecast for the year halved at 5-6%. The industry registered 6.3% growth in the first quarter (January-March), the lowest first quarter in three years. This is due to the recovery in January and February, a period considered precovid for the Indian market.
“The industry registered a growth of 7.5% in January and February. This growth was significantly affected in March with the initial effect of Covid-19 which reduced growth to 4%, which led to a slowdown in overall growth for the quarter, ”the report said.