Fast moving consumer goods (FMCG) industry in India is expected to grow at an annual 12 per cent to become a Rs4,00,000-crore industry by 2020, according to a new report released by the Confederation of Indian Industry (CII).
The report, `FMCG Roadmap to 2020 - The Game Changers', prepared by Booz & Company was released at the CII FMCG Forum 2010 in New Delhi today.
With supportive government policy to remove supply constraints, the industry could even see a 17 per cent growth over the next decade, leading to an overall industry size of Rs6,20,000 crore by 2020, the report said.
The robust growth in GDP, rising income levels, especially in the rural areas of the country as also increased urbanisation and evolving consumer lifestyle and buying behaviour are the positive growth drivers, the report noted.
FMCG industry in the country has already recorded a 12 per cent growth rate over the last decade, with the sector tripling in size.
Addressing the 'FMCG Forum 2010: The Game Changers' seminar, Kannan Sitaram, conference chairman and former COO of Dabur India Ltd, said that he expects the Rs130 crore industry to grow to Rs6,000-crore level in the next ten years.