FMCG not as badly hit by slowdown as some other sectors: Nestle India CMD

Firm's chief says double digit will be difficult, but the kind of issues faced by other sectors may not get replicated in FMCG, as it still has plenty of low-payout, low-budget essentials

Even as the economic slowdown has impacted many industries, food and beverage firm Nestle Ltd said it is confident of reporting growth in the future as it feels the sector has not been as badly hit by the ongoing crisis.

After announcing entry into the Rs 8,000 crore cocoa-malt beverage segment in India through its brand MILO, Suresh Narayanan, chairman and managing director Nestle India Ltd said it is true that due to the economic climate the FMCG and food business is going south, but the impact is not as bad as in other industries.

“I am not saying that