One of the fastest growing sectors in the economy, the consumer industry has a lot to offer to those who are willing to take the plunge…
The consumer industry in India has shown tremendous growth in the last couple of years, leading to a high demand for competitive individuals in this sector. The consumer durables and FMCG (fast moving consumer goods) sectors, in particular, have shown a better growth trajectory. According to a report by Edelweiss Research, the consumer durable sector in India ‘clocked a healthy 11 percent CAGR’ between 2012 and 2017. In the next five years the growth is expected to be around 13 percent CAGR (compound annual growth rate). Same can also be said for the FMCG sector. It is the fourth largest sector in the Indian economy. According to a report by Market Research firm Nielsen, the Indian FMCG sector will grow 10.5 percent in 2018.
Even though the numbers look good, a lot needs to be done in this sector as there are a number of challenges which might hinder the growth of the consumer industry in the longer run. The foremost of these challenges is the academia-industry gap. It is a known fact that what the institutes teach and what the industry demands is not on the same level. The academia lacks far behind in this regard. Although the top institutions of India are trying to bridge this gap, it is not enough.
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