Being Local Matters

India's rapidly evolving consumer market, backed by a young, progressive population and a flourishing middle class, is a landscape of opportunity and complex challenges.

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The country, home to over 1.4bn people, showcases a dynamic fast-moving consumer goods sector that is expected to grow at a staggering 14.9% compound annual growth rate, reaching $220bn by the end of this year.

The surge in digital penetration is reshaping consumer awareness and access, empowering buyers with informed choices and convenience.

Tier-II and Tier-III cities have further emerged as a powerful engine driving consumption, with these regions increasingly mirroring urban aspirations and fuelling market expansion.

Meanwhile, the evolving middle class, whose aspirations are now not just finding value-for-money but also value-for-quality, underscores a growing demand for premium offerings that reflect lifestyle upgrades and self-expression.

Know Your Market Gaps

One of the first steps in the entrepreneurial journey is identifying market gaps and seizing opportunities for innovation. In our case, Ghazal [Alagh] and I started the journey with a simple observation: the lack of safe and toxin-free products for babies in the Indian market. Recognising this gap, we set out to create Mamaearth—a brand committed to offering safe, natural and effective products for babies and mothers, thus, tapping into unmet consumer needs and leveraging innovation.

Early on, we identified a growing demand for natural and clean ingredients, which led us to expand Mamaearth's portfolio with products that catered to this need. Later, recognising a gap in the market for active ingredients, we launched Derma Co, a brand focused on dermatologically backed, high-performance skin care. By staying attuned to consumer preferences, we were able to build a diverse portfolio that resonates with a wide range of needs.