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Covid-19 impact: Nielsen slashes 2020 growth forecast for FMCG sector to 5-6%

city New Delhi India covid-19 2020 pandemic
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NEW DELHI: Nielsen on Thursday slashed its 2020 growth outlook for India’s fast moving consumer goods sector—that is incidentally registering seeing demand as shoppers stock up on household essentials—to 5-6% from its earlier projection of 9-10% as it expects the ravaging impact of covid-19 to play out through the year.

Nielsen follows a January to December calendar. The researcher said the pandemic, which has seen India enforce a strict lockdown, bringing economic activity to a near standstill, will have widespread impact in the months to come.

Nielsen researchers added that an extended lockdown will lead to shift in consumption habits and reduced manufacturing activity will have implications on employment.

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India
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