Latest news with #NitinParanjpe
Hans India
5 days ago
- Business
- Hans India
India catching up with Industry 4.0: HUL chief
New Delhi: Despite global uncertainties, the Indian economy is moving steadily towards sustainable and inclusive growth, Hindustan Unilever (HUL) Chairman Nitin Paranjpe has said. Paranjpe said that although the world is facing confusion and instability, India continues to grow with confidence. 'We are building capabilities to meet the needs of a changing and ambitious India. At the same time, we are making sure that this growth is environmentally friendly and includes everyone,' he told at the company's annual general meeting (AGM). missed out on the first three industrial revolutions due to poor physical infrastructure, it is now catching up during the fourth Industrial Revolution. The country is currently one of the fastest-growing economies in the world. According to IMF estimates, the country is expected to grow at around 6.3 per cent in the financial year 2025-26. India's GDP has more than doubled in the last 10 years -- from $2.1 trillion in 2015 to over $4.3 trillion in 2025 -- and is likely to overtake Japan soon to become the world's fourth-largest economy. Paranjpe also highlighted India's progress in the digital space. He said that while the country missed out on the first three industrial revolutions due to poor physical infrastructure, it is now catching up during the fourth Industrial Revolution. He credited this to India's strong digital public infrastructure. 'By 2030, 69 per cent of our population will be of working age. With a median age under 29 and the lowest dependency ratio, India is set to remain the largest supplier of human talent,' he added. Talking about changes in consumer behaviour, Paranjpe said that Indian consumers are now seeking holistic wellness. He said that consumers are looking for new products, better experiences, and have rising aspirations. 'As a company that serves these evolving needs and partners in the country's growth journey, we carry a big responsibility,' he told shareholders.
Time of India
6 days ago
- Business
- Time of India
Protectionism among biz challenges: HUL chairman
Mumbai: Geopolitical uncertainties and rising protectionism are posing challenges for businesses globally, and companies will have to respond with speed and agility to protect their growth as they navigate these disruptions, said Nitin Paranjpe, non-executive chairman at Hindustan Unilever (HUL). "The impact that technology will have on us, the impact that climate change will have on us is have to gear up to deal with it, but the direction is known..." "The new thing which is happening is the geopolitical uncertainty, the world order as we have understood and known for the last several decades has been upended. That causes challenges for businesses. Decades-long globalisation suddenly giving way to protectionism and even that is not so a challenge," Paranjpe told TOI in an exclusive interview on the sidelines of the company's annual general meeting (AGM) at its headquarters here on Monday. A strong domestic consumption and lesser reliance on export-led growth places India on a better footing compared to other countries like China, and India might even have an "opportunity through all the resetting of the global order," Paranjpe said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo This means businesses may escape the first-order effects of global uncertainties, but companies will have to deal with the second-order effects, Paranjpe explained, adding that traditional "payback periods" for firms will start getting challenged. "Trying to predict the future is a fool's errand, it's simply impossible. Therefore, finding a way by which you can structurally build in agility and the capacity to respond becomes far, far more important. Predictability has reduced, and so we need greater agility. As you start thinking of outcomes (from a business planning perspective), you have to start thinking of paybacks which will be shorter. That's what the world has to now deal with," Paranjpe said. To create a developed India, economic growth alongside environmental sustainability and social progress need to be prioritised, and India Inc has a major role to play in it, Paranjpe said in his AGM speech. HUL's mantra in this rapidly changing world is speed and agility. "We are embedding technology across our value chain to enhance agility and resilience," Paranjpe said. As companies cater to changing consumer sentiments and preferences in a growing digital world that's reshaping trends, HUL's task is cut out: to craft a portfolio that can address people across the spectrum. The company's strategy will be to build tech-powered capabilities to service consumers. "We have to become world-class in sensing change and build world-class capabilities to respond to that change by leveraging technology in a way we have never done before," Paranjpe said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
7 days ago
- Business
- Time of India
Market sentiment to improve on rural Boost, lower inflation: HUL Chairman
Mumbai: Hindustan Unilever (HUL) chairman Nitin Paranjpe expects improvement in market conditions in the near and medium term, driven by better agricultural yield, lower inflation and normal monsoon forecast. " Rural economy should continue to do well, but the reduced inflation, along with the taxation changes, which puts more money in people's pockets, as well as some changes in the monetary policy, will benefit the economy and the sentiment in this market. As a result of which we should see an improvement, a gradual improvement, but an improvement nonetheless, in the overall environment," he said at the 92nd annual general meeting of India's largest fast-moving consumer goods company. HUL, whose performance is considered a proxy for broader consumer sentiment in India, has been grappling with slow value sales growth, which has been between flat and 4% for almost two years now. Its volume, or the number of packs sold, increased just 2% in the March quarter as well as the entire 2024-25. On May 1, the company revised its guidance for near-term margin to 22-23% from its previous forecast of 23-24%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct Shopping From Adidas Franchise Store, Up To 50% Off Original Adidas Shop Now Undo "During FY25, HUL has done a good job in very difficult circumstances. This doesn't mean we are satisfied. We are trying to work to strengthen our performance as we move forward. It was a difficult year. Market growth was muted. Rural growth was recovering, but slowly, and urban growth was moderating right through the course of the year," he said. "There were also very significant fluctuations in commodity prices. As a consequence of this, price-led growth did not happen in this year. Now in that context, your company did very well. We restored volume led growth." He said, "Our aspiration is to deliver earnings growth of about 10%-plus as we move forward." Over the past year, demand in urban markets - which account for nearly two-thirds of HUL's sales - moderated owing to a high base, low wage growth and consumers cutting down on discretionary spending amid inflationary pressure. The maker of the Horlicks malted food drink and Dove bathing soap, however, said it had strengthened its competitiveness and taken other interventions to strengthen its portfolio and build capabilities that augur well for the future. Live Events HUL has been working on revamping its portfolio to modernise big brands such as Lifebuoy, Horlicks and Glow & Lovely. Nearly a decade ago, it had launched 'Winning in Many Indias' (WiMI), a strategy aimed at transforming the company from a four-branch structure at the front end into 14 distinct consumer clusters. This resulted in consistent market share gains and deeper reach, especially in central India. This was followed by another initiative within WiMI in 2021 to target non-metro states and understand consumption habits in these markets. The company is now looking at WiMI 2.0 to tap into the affluent class, part of its wider strategy to grow the share of its premium product portfolio by nine percentage points in the beauty and wellbeing business - its biggest profit generator currently - although it will extend to other categories as well. "Our strategy codenamed Aspire framework is designed to meet the growing aspirations of over a billion Indian consumers through taking interventions which will enable this company to succeed," he said. "It is about strengthening our portfolio, both the core, but also the future core and new segments which are going to be developed. It is about finding new ways of demand generation."
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Business Standard
7 days ago
- Business
- Business Standard
HUL chairman urges India Inc to drive inclusive, eco-friendly growth
India Inc must play a responsible role for "inclusive and environmentally responsible" growth of the country, even as the government is taking steps for that, HUL Chairman Nitin Paranjpe has said. To become a developed nation, India should chart a path that prioritises economic growth alongside environmental sustainability and social progress, he said while addressing the shareholders in the 92nd AGM of the leading FMCG maker. "While the government is taking significant steps, 'India Inc.' must play a crucial role in ensuring this growth is inclusive and environmentally responsible," he said. In his speech titled Building a Winning Business in an Aspiring India', Paranjpe reflected on the evolving business landscape, noting that while India offers immense opportunities, it is equally important to address the challenges that accompany this growth. The world today is characterised by "uncertainty and chaos," however Indian economy is continuing its growth journey. "However, amidst this incomprehensibility, the Indian economy appears poised to continue its path to sustainable and inclusive growth," he said. Paranjpe called period from 2014 to 2024 as the "decade of India's economic resurgence" which aligns with the vision of a Viksit Bharat' (Develope India) by 2047. "Achieving zero poverty, quality education for all, affordable healthcare, meaningful skilled employment, and becoming the world's food basket are ambitious yet achievable milestones in India's journey to becoming an advanced economy," he said. Elaborating India growth journey Paranjpe said several tailwinds will help achieve this, including a strong digital infrastructure, a conducive policy environment, and a burgeoning young population. He called out India's Digital Public Infrastructure as one of its greatest future advantages, and hailed the Open Network for Digital Commerce (ONDC) for levelling the playing field for kirana walas and retailers across the nation. At the same time, he mentioned that getting sellers and resellers to leverage e-commerce and improve India's e-retail penetration is a tall order. Hinting towards growing premiuimisation, Paranjpe said the Indian consumer is evolving, seeking newer products, better experiences, and aspiring for more. "As a business serving the needs of an ever-aspiring consumer and partner to a nation focused on its growth, we bear significant responsibility. The new India presents several opportunities that we can leverage to leapfrog into the future," he said. Pranjape also added, HUL like other makers is witnessing 'unprecedented' technological advancements, where Artificial Intelligence (AI) is taking over everything from searches to product design to farming, bio-mimetic inspired design, driverless vehicles and Mars missions to science utilising bugs for cleaning homes. "Technology is, and will continue to be, a primary driver shaping our future," he said, adding HUL is "building capabilities to cater to the needs of an evolving and aspiring India". Simultaneously, the maker of popular brands as Rin, Lux, Surf Excel, Pond's, Dove, Horlicks, Bru, Lipton etc is also ensuring that its growth journey does not negatively impact the environment and leaves no one behind.
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Business Standard
7 days ago
- Business
- Business Standard
Near to medium term market conditions to improve: HUL's Nitin Paranjpe
HUL Chairman Nitin Paranjpe says easing inflation, tax relief and monsoon hopes will boost the economy; highlights AI, ONDC, and digital commerce at AGM Sharleen Dsouza Mumbai Listen to This Article Hindustan Unilever (HUL) expects to see an improvement in market conditions in the near and medium term, aided by several factors such as the agricultural sector, reduced inflation, and changes in taxation, Nitin Paranjpe, Chairman of HUL, told shareholders at its annual general meeting (AGM). Paranjpe said while answering shareholders' questions at the AGM, '(In) FY26, we do believe that in the near term and the medium term, we should see an improvement in market conditions because of several reasons: Macro conditions are getting better. The agricultural sector and produce have been better and also there's the expectation that this
