GST 100 days: FMCG cos give thumbs up, say demand picking up
As the GST completes 100 days today, major FMCG firms, including Dabur and Godrej Consumer, expect full recovery from the pangs of implementation of the new tax regime by the end of the third quarter with clear signs of demand picking up in the horizon.
Most FMCG firms were hit by de-stocking by channel partners ahead of the implementation of the Goods and Services Tax (GST) in July this year due to uncertainties of transition to the new system.
Dabur India and Godrej Consumer Products Ltd (GCPL) said they have adapted well to the transition and are hopeful of the situation to completely improve by this quarter considering the stable market sentiments.
"With the market sentiments showing signs of improvement and stability returning post-GST implementation, we expect the demand scenario to move up, both in rural and urban markets," Dabur India Chief Financial Officer Lalit Malik told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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