 "More players possible in processed foods after GST cuts")
The decision to reduce the goods and services tax (GST) rate on processed foods such as pickles, sauces, ketchups and preserves could entice more entities to enter the sector, experts said.
Instead of 18 per cent, these products will attract a GST of 12 per cent from July 1. While price cuts by incumbents such as Nestlé or Hindustan Unilever (HUL) could be in the offing, as a result, entry of majors such as ITC Foods is possible.
Sachin Menon, partner at consultancy KPMG India, says: “The revised rate structure for some processed foods makes it attractive for players looking to
