Speaking at the Barclays Global Consumer Staples Conference, Fernandez said India is “probably the only large market in fast-moving consumer goods (FMCG) with true exponential growth potential over the next five years”, driven by urbanisation, rising incomes, greater female workforce participation, and household fragmentation.
It has emerged as “probably the only exponential growth opportunity globally”, helped by rising consumption, premiumisation, the emergence of new categories and adjacencies, and a rapidly evolving retail landscape.
“The proof of everything that is happening in India is the performance that we are having this year,” he said, citing double-digit growth and accelerating business momentum in the country.
Unilever banks on distribution strength
Fernandez said Unilever’s deep understanding of the Indian market, extensive brand portfolio and talent pool position it to benefit significantly from the country’s growth trajectory.“Many companies are discovering where India is on the map. We know the map of every ZIP code in India,” he said, highlighting the company’s distribution strength and market reach.
HUL Managing Director and CEO Priya Nair said the country’s traditional general trade channel continues to remain dominant despite the rise of modern retail formats and quick commerce.
She noted that specialist retail formats such as cosmetics and beauty stores are gaining prominence, while general trade remains the backbone of India’s retail ecosystem.
Quick commerce opens new opportunities
On quick commerce, Nair said the channel’s focus on lean inventories and high stock turnover favours large brands with strong demand visibility.“We are working closely with quick commerce players to ensure supply-chain integration and agility,” she said, adding that HUL’s margins in quick commerce are structurally better than in modern trade and general trade.
The company also sees significant headroom for premiumisation in India, particularly in beauty and personal care categories.
Premiumisation beyond metro consumers
Nair said premium hair care and skin care remain major growth opportunities, led by brands such as Dove and Vaseline, while acquisitions such as Minimalist are helping strengthen HUL’s premium beauty portfolio.Fernandez said India’s premiumisation story extends beyond affluent consumers in metros.
“The biggest premiumisation opportunity in India is to move consumers from a Re 1 sachet to a Rs 2 sachet,” he said, adding that it provides a “huge opportunity to really upgrade our portfolio” within the company’s existing brand portfolio.
Published on September 10, 2026
