Reports indicate that India, featuring strong GDP growth and a recent reduction in GST, offers "massive" prospects for British multinational consumer goods company Unilever and its Indian subsidiary Hindustan Unilever.

Unilever Chief Executive Officer Fernando Fernandez stated that the companies expect to be the primary beneficiaries of a significantly more dynamic economic landscape in India.

Fernandez mentioned during a JP Morgan Fireside Chat that Indian consumption experienced a notable impact over the past three years because of double-digit food inflation.

"I believe the Indian government has implemented quite significant actions recently. Hence, when the government reduces GST, which is India's VAT, lowers personal income tax, or cuts interest rates, it's an indication that the economy is facing issues, and that's precisely what's been occurring over the past few years," Fernandez stated.

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Furthermore, there is a degree of food deflation that has been reflected promptly in the Indian GDP growth.
"I believe it was 8.2 percent in the last quarter. I observe numerous opportunities in India."

"This GST cut influences 40 percent of our portfolio," he stated, adding, "I think the GST cut's effect on the overall economy will be very, very substantial."

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Unilever has recently altered the upper management of HUL by naming Priya Nair as the fresh CEO.

"We have also added two more CEOs to our Indian leadership team: the CEO of Hero MotoCorp will serve as the company’s CFO, and the CEO of Britannia will lead our Food business." Their goal is to align our volume growth with GDP growth, and while it will take time, I am very optimistic about the opportunity," he stated.

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Fernandez, who recently visited India on an official trip, stated, "The opportunities are immense," highlighting that India has 60 million individuals with a per capita income similar to that of France.