HUL CEO Rohit Jawa foresees India's brightest decade in consumption

Rohit Jawa emphasized that concentrating solely on short-term shifts in inflation or deflation represents just a small fraction of India's overarching trajectory.

India has a huge amount of opportunity in growing consumption and we can see that happening in different tiers of the market, said Rohit Jawa, CEO of Hindustan Unilever during an address at the 19th edition of the India Business Leader Awards jury deliberation.

Jawa expressed his optimistic outlook for India's future, calling it the "consumption decade". Highlighting the driving forces behind this growth, he pointed to factors such as digitization, access to information, and aspirations of the consuming class. He said that these factors would lead to a significant rise in the quality of life for many in India, stating, "All of that hunger to have a better quality of life, all of that is in scale in India."

Talking about the impressive advancements India has achieved, especially in the growth of its middle class, he pointed out that over the past five years, the middle-class population and those above it have doubled, with expectations of a similar growth trajectory ahead. This expanding middle class plays a significant role in propelling India's economic growth due to their elevated consumption patterns.

Recognising the significance of economic fluctuations, Jawa stressed the need for a more comprehensive outlook. He emphasised that concentrating solely on short-term shifts in inflation or deflation represents just a small fraction of India's overarching trajectory. With a 90-year legacy in India, HUL maintains its confidence in the future. Jawa expressed his belief that the company has witnessed India's business landscape continually improving over the years, and he anticipates that even greater opportunities lie ahead.

In terms of the company's approach to work culture, Jawa emphasised trust and flexibility. He said, "We judge people by outcome and not the number of hours they put in." Mental well-being was highlighted as a crucial aspect of a healthy workplace, with extensive support in place for employees. He emphasized that they are open about these discussions and have resources to assist those who might need help.

Summing up their approach, Jawa stated, "It is having an open culture, trusting our people, driven intrinsically by their own desire to do well, and we are blessed in that sense at Hindustan Unilever."