Amid inflationary pressures across industries, Fast-Moving Consumer Goods (FMCG) major Nestle India could look at hiking prices in extreme cases where where it unable to absorb the rise in commodity prices. The company has shifted its focus on brands that will provide better value outcomes.
Speaking to businessline Suresh Narayanan, Chairman and Managing Director of Nestle India, said that his company, which manufactures products such as Nescafe, Maggi, Kit Kat, Milkmaid and Nestea, is trying to mitigate input cost pressures through economies.
“In 2022, food inflation in companies was quite serious. We are recalibrating our portfolio towards brands that are capable of giving better value. In extreme cases we may look at price hikes where it is beyond us to absorb the hiked commodity prices ,” said Narayanan.
Rural focus
The company is shifting its focus to penetrate deeper into the rural market. “Aspirational India is seeking availability as a key vector. We were earlier…