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India’s FMCG makers expect high single-digit volume growth in 2026 as GST 2.0/tax reliefs and benign commodities ease costs and revive urban demand. Executives flag gross-margin expansion → higher ad spends, selective premiumisation (quality, wellness) and a bigger role for quick commerce/omnichannel.
Emami’s Harsha Vardhan Agarwal calls 2026 “more favourable” on easing inflation and capex support; Godrej Consumer’s Sudhir Sitapati still finds volume growth (4–5%) lagging GDP (7–8%), but expects GST and income-tax cuts to lift demand, especially urban foods. Marico’s Saugata Gupta dubs 2025 a “decisive transformation” year, setting up H2 FY26 for volume-led growth; Deloitte sees deeper e-com penetration, with quick/social commerce disrupting legacy routes.
DS Group cites ₹10,000-cr turnover and a healthy 2026 outlook; Grant Thornton expects capital to chase premium, wellness, home solutions, and supply-chain tech/Q-commerce infra. Net: margins up, growth broader—but watch monsoon risk, D2C/regional competition, and execution in media mix as traditional reach wanes.
