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Aug 16, 2012, 01.00 PM IST
While an agricultural crisis across the globe is making input costs costlier for FMCG companies, demand has begun to fall. But Marico chairman and managing director Harsh Mariwala explains to CNBC-TV18 that the situation is not as bad.
the growth rate of 50% is still good as it includes inflation
Harsh Mariwala CMD Marico
While an agricultural crisis across the globe is making input costs costlier for FMCG companies, demand has begun to fall. But Marico chairman and managing director Harsh Mariwala explains to CNBC-TV18 that the situation is not as bad.
"Last quarter was very good with growth in topline and bottomline. The industry has grew at about 70% until May. In June, the industry’s growth fell 50%. However, the growth rate of 50% is still good as it includes inflation. In July, the overall mood, because of the monsoon and the economy, has further deteriorated." On Wednesday, Harsh Mariwala will launch an initiative, 'Ascent', to promote entrepreneurship in India.
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