Upskilling and reskilling will boost the FMCG sector at a faster pace: CII

Post pandemic, consumers are switching to more eco-friendly products driving FMCG companies to look at progressive models as a future necessity to minimize the environmental effects

“Speed and agility are a must to succeed however this needs to translate across all elements of the organization for long term success.

There is also a need to focus on creating sustainability and become environmentally friendly in the long run,” said Bharat Puri, chairman National Committee on FMCG and managing director, Pidilite Industries at the CII FMCG National Summit 2022 organised by the Confederation of Indian Industry (CII).

Companies said they are looking at digital savvy consumers today which means even within the organization a lot of skill sets have begun to change. Employees need to be reskilled and given the new age skill sets to get more future ready workforce.

“There is a need to reduce the carbon emission at source. There is no ban on plastic use, but one need to recycle or dispose plastic more responsibly,” Deepak Iyer, managing director, Mondelez India said.

Success of FMCG companies in this new era will rely as much on developing new skills as it would on precise leadership and decision making, often with disparate information, said companies.

“Almost two third of the revenue generated is from the unorganized sector. The share of the FMCG profits have also grown from 5% in the year 2010-14 to around 7% in the year 2020-22. The Indian FMCG market has outperformed globally,” said Abheek Singhi, managing director and senior partner, Asia- Pacific leader, consumer and retail practice, Boston Consulting Group (BCG), adding that there has been a double- digit growth rate in the FMCG sector in India since the last two decades.