ITC, Ruchi Soya among 50 fastest growing consumer product companies globally: Deloitte
26 April 2011
During the period between June 2009-June 2010, two Indian companies ITC and Ruchi Soya ranked among world's 50 fastest growing consumer firms, according to the latest annual report by market research firm Deloitte.
The market research company says in its 4th annual report "Global powers of the consumer products industry 2011,", India's ITC Ltd, with a strong presence across cigarettes, food and personal care products hospitality and paper segments, ranks 15th in the list, while edible oil maker Ruchi Soya comes in at the 20th position.
The Deloitte report identified 250 largest consumer products companies, on the basis of data available for the 12-month period between June 2009 and June 2010.
The period saw, ITC gross net sales of $4.04 billion at a growth rate of 17.2 per cent, while Ruchi Soya grew by 14.3 per cent annual sales of $3.01 billion.
France's food processing firm Groupe Bigard SA topped the list with a growth rate of 80 per cent and sales of $6.27 billion for the period.
"Currently, while India is represented by only two companies among the 50 fastest growing consumer product companies, there is a huge potential as large Indian conglomerates in the consumer business sector are witnessing strong growth," Deloitte in India senior director Rajan Divekar said.