Untimely rains dilute summer consumer sales
Sales of daily essentials and electrical goods declined in the June quarter in India due to unseasonal rains and consumer spending cuts. The fast-moving consumer goods (FMCG) market fell 5%, with the beverages category dropping 28%. Neeraj Khatri, CEO of Wipro Consumer Care, stated that despite improved margins and volume growth, overall growth was still muted, particularly in rural areas.
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