FMCG Industry Crisis as Rural India stops spending, affected by Massive Economic Slowdown

People in rural India are holding back on items such as clothes, hair oil and biscuits, Business Insider reports, citing multiple research reports. That’s largely because rural wage growth reduced from 14.6% in 2013-14 to just 1.1% in 2018-19, an SBI Ecowrap study shows. Biscuits as a category, for instance, is growing at just 1%, […]

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