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Consumers' purchasing power may increase further, says Dorab Mistry
Business Standard
|June 28, 2023
Adani Wilmar's non-executive chairman says company investing in food processing capacity
India has its foot on the gas pedal to become the third-largest economy by 2030, said Dorab Mistry, non-executive chairman of Adani Wilmar, as he expected a further rise in consumer purchasing power.
“This presents a huge opportunity to cater to steeply rising demand in the food sector,” Mistry said in his letter to shareholders. He said the company is investing in its food processing capacity and expanding its product portfolio to address the growing demand. A well-known international vegetable oil market expert, Mistry noted that Adani Wilmar is the leading player in India in the edible oil segment with a market share of 19.5 per cent, and its food business is registering high double-digit growth.
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