FMCG sector`s resilience key to shaping strong and sustainable economy: Minister
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The growth in the fast-moving consumer goods (FMCG) sector -- buoyed by rural demand recovery, easing inflation and favourable monsoon conditions -- will be key to shaping a strong and sustainable economy towards Viksit Bharat, Food Processing Industries Minister Chirag Paswan said on Monday.
Addressing a FICCI event in the national capital, the Minister emphasised the need to ensure that the quality of products should never be compromised as it will not only impact the company’s brand but also India’s brand as well.
"As we work towards a Viksit Bharat, the FMCG sector’s adaptability and resilience will be key to shaping a strong and sustainable economy. These sectors will play a leading role in achieving Prime Minister Narendra Modi’s vision of an Atmanirbhar Bharat," he stated.
Stressing the need to identify and tap abundant resources present within the country, the minister said the government is working on converting the population into an asset for the nation with immense opportunities.
"India, as a market, not just gives huge opportunities domestically but also to the world as well. Our population gives us diversity in every sector through new technologies and innovation," said Paswan.
India has seen transformational reforms and attained new heights in the last 10 years which the world is witnessing. The industry has a very big role in this journey, he added.
The minister further stated that the prime objective of the government is to ensure minimising food wastage with value addition, adding that 50 multi-purpose food irradiation units will be set up soon, along with 100 food testing labs.
Nidhi Khare, Secretary, Department of Consumer Affairs, said the government is committed to enhancing consumer experience through an efficient system of grievance redressal.
"Our dedicated national consumer helpline aims to resolve as many complaints as possible. Notably, the number of registered complaints has doubled since last year, indicating growing consumer confidence in the national grievance redressal mechanism," she told the gathering.
According to Harsha Agarwal, Senior Vice President, FICCI, innovation and technology will drive the FMCG sector with sustainability at the core of all activities.
