CNBC-TV18’s Sapna Das caught up with KK Modi of Godfrey Phillips India who expects a 3-4 percent decline in cigarette volumes by the end of this year.
Post goods and services tax (GST), the taxes have gone up and volume has gone down but we don’t know if it is temporary or long-lasting, he said.
There will be 3-4 percent decline in volumes at the end of the year, he added.
On new strategy to handle the GST impact, he said, one has to wait for long-term effect to see, it is too early. It is difficult to decide whether we should change our strategy right now, we have not changed our prices, said Modi.
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