Kindly brief us about your company and your business verticals.
Ans. With a prolific history of over 140 years, CG Corp Global is a multinational corporate operating out of Nepal. Despite its humble beginnings, it is today the largest business enterprise of Nepal. Today, we are proud that CG Corp Global is present in over 30 countries, a conglomerate with 76 brands, 122 companies, and an employee base of over 10,000 people; we are genuinely a transnational company. Our business verticals include foods, hospitality, banking, cement, education, real estate, and clean energy to name but a few. Beyond these, we care deeply about improving the livelihood opportunities and health and social conditions, which we do through Chaudhary Foundation, where we run numerous projects.
CG Corp Global’s products range from our famous WaiWai noodles to clean hydroelectricity to luxury hotels around the world. Our services cover an equally broad spectrum. CG Remit allows thousands of Nepalis, who work hard overseas, to send money home to their families; CG Education provides world-class schools and colleges in Nepal and abroad and; our telecommunications network will change the lives of millions. Our vision of creating Nepal’s first billion dollar corporation, producing world-class products and services, has beenfinally realised!
Give us a brief about the Indian food industry and its challenges in terms of current trends & consumer behavior.
The Indian snacking food industry is an emerging and booming arm of the FMCG category, thanks to the evolving consumer consumption patterns. The future of the Indian Snacks Market can be judged from the fact that this industry is expected to grow with a double-digit CAGR for the time frame of 2018 to 2024. Brands are ceasing and capitalizing on this opportunity through their product offerings, bringing the goodness of healthy food items to Indian consumers in different formats suited to their lifestyle, taste and convenience.
The 2020 events have contributed to a change in the ambitions of Indian customers, including a demand for a healthier and wholesome quality of life in a more prosperous environment, with an emphasis on wellbeing, safety and more family time.
What buyers expect and why, illustrates that it is possible to ignore these seemingly small goals and subtle improvements in market behavior, but they can have significant impacts on brand strategies individually and cumulatively.
As consumer purchasing habits are shifting, and both productions of products and other market processes have been affected, the global health pandemic and epidemic has led to a mountain of problems around the food and beverage market.
Challenges Lack of effective product distribution system
In India, the food market is largely composed primarily of unbranded products, which, as a result, ends up creating havoc and confusion in the supply chain. The chain contains many small stakeholders like raw material producers, research and quality testing units, suppliers of ready-to-eat manufacturers among others. Among many such options, silo & storing units are making the food distribution system a complex one and then there are third party distributors, who have been plugged into the supply chain, leading to additional operational cost.
Increased health concern
Consumers have been motivated by the growing prevalence of food-related diseases to make crucial improvements in their diet and lifestyle, making them more health-conscious than ever. The line of mind is immediately redirected to buying foods without additional preservatives that could hamper one’s health. The demand for goods not carrying the ‘safe’ logo is then bound to decline and the need to remove artificial constituents from products has come to remain at the top.
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In an exclusive conversation with Dr. Varun Chaudhary, Executive Director, CG Corp Global
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