The GST-fuelled growth in the organised market will help the biscuit industry register double-digit volume growth this year, according to Shekhar Agarwal of Priyagold Biscuits. "Average volume growth this year could be around 15 percent compared to 6-7 percent last year," he told BloombergQuint.
Other key highlights from the interview:
- Edible oil cost has risen by up to 50 percent.
- Power, fuel and labour costs have also gone up.
- Q4 volume growth was around 8-9 percent.
- Q2, Q3 were not good due to GST implementation.
- Talking to government for reduction in GST for biscuits.
- Want GST to be reduced to 12 percent from current 18 percent.
Catch the full interview below