India is becoming a destination for more advanced supply chain : CEO P&G India

Procter & Gamble (P&G) India CEO Kumar Venkatasubramanian declared Monday that India was fast growing as a destination for "the most evolved supply chain capabilities" needed for the availability of products and their consumption based on the changing needs of consumers.

Speaking on the occasion of an FICCI event, Venkatasubramanian spoke on the digital forces that are taking shape and how they are the crux of the future supply chain. They do not only optimise costs but will ensure smooth data flows, predictability, low carbon footprint, and better service levels.

With the rise of digital transformation, e-commerce, and quick commerce, P&G is investing in understanding unique consumer behaviour in India. "Through the lens of digital transformation, we can drive performance and unleash incredible performance," he said, underlining unprecedented opportunities in today's market landscape.

Consumer aspirations in India are changing fast, with a rise in disposable incomes and exposure to information helping the process, says Venkatasubramanian. "Consumers are becoming increasingly value-conscious, who would invest in superior products that are able to meet sophisticated needs," he added.

Information and experience have become more accessible as with nearly two-thirds of India's population now online. "Studies predict that India will experience the highest per-capita income growth in the world. Estimated at 5.4 per cent per annum from 2024 to 2033, this growth will be driven by urbanization, technological advances and rising income levels," he added.

He also pointed out that this ease of rapid product delivery is ever-growing and stated that time is an important commodity for a consumer. It is there that a drastic shift is seen in the e-commerce as well as in the quick commerce market.

India would see online shoppers of over 500 million by FY30-according to a Deloitte report cited in Venkatasubramanian-and trends suggest that more than 30 percent of the Indian urban population now depends on quick commerce for primary grocery shopping.

P&G is the world's largest consumer goods company with Ariel, Tide, Whisper, Gillette, and Pampers as some of its brands. There are four units of P&G in India namely P&G Hygiene Health Care, Gillette India, P&G Health, and P&G Home Products.