FMCG sector hopes for a growth-oriented Budget
The Dollar Business Bureau After having been impacted by demonetisation, the FMCG sector is pinning hopes on a growth-oriented Union Budget to look for a revival in customer confidence and build demand in urban as well as rural markets. “We are expecting a growth-oriented Budget with various stimuli to revive consumer confidence...proactive reforms to stimulate demand by increasing the money in the hands of the emerging middle class and rural India, this will help bring FMCG growth back on track,” Vivek Gambhir, MD, Godrej Consumer Products Ltd told PTI. Personal care and cosmetics product company, Emami Ltd, is also expecting a growth-oriented budget that would boost consumption, improve public investment, widen tax base, encourage digitisation and improve business sentiments. “The Budget should be focussed on clarifying ...
Godrej to amalgamate two overseas arms with itself
The Dollar Business Bureau In order to streamline its group structure, FMCG major Godrej Consumer Product Ltd (GCPL) on Friday said that it would merge its two fully-owned holding companies abroad with itself. Godrej Consumer Products US Holding Ltd (GCPUSHL) and Godrej Consumer Products Mauritius Ltd (GCPML) would be amalgamated with the GCPL. “Both the transferor companies are wholly-owned subsidiaries of GCPL. As per the scheme, GCPML and GCPUSHL will be amalgamated into GCPL,” the company said in a filing to Bombay Stock Exchange. However, the process will be subject to required statutory approval from the authorities in India and Mauritius, it added. The company further said that as both the firms are fully-owned arms of GCPL and are related ...
