Hindustan Unilever's non-executive chairman Nitin Paranjpe has highlighted how rising protectionism and geopolitical uncertainties are posing major challenges for businesses worldwide. In an exclusive interview with The Times of India on the sidelines of HUL's annual general meeting, Paranjpe noted that these disruptions demand a response marked by speed and agility.
“The impact that technology will have on us, the impact that climate change will have on us is understood... we have to gear up to deal with it, but the direction is known,” TOI quoted him as saying. Paranjpe added that the current global climate has seen decades of globalisation give way to protectionism, creating challenges for companies that are used to a stable world order.
Paranjpe stressed that, unlike some other countries, India’s strong domestic consumption and reduced reliance on exports provide a relatively stable footing. “India might even have an opportunity through all the resetting of the global order,” he remarked, noting that while businesses may avoid the immediate impacts of global uncertainty, they will need to manage the second-order effects. This shift is expected to shorten traditional “payback periods” for firms.
He emphasised that trying to predict the future is nearly impossible in today’s unpredictable environment. “Finding a way by which you can structurally build in agility and the capacity to respond becomes far, far more important,” Paranjpe explained. He added that businesses now need to focus on shorter payback periods and enhance their ability to adapt quickly.
Paranjpe also underlined the role that companies must play in creating a developed India, stressing that economic growth should go hand in hand with environmental sustainability and social progress. “We are embedding technology across our value chain to enhance agility and resilience,” he said, adding that Hindustan Unilever is committed to leveraging technology to respond to changing consumer sentiments in an increasingly digital world.
Looking ahead, Paranjpe expressed optimism about the FMCG sector, citing expectations of improved growth thanks to low inflation, tax benefits, and favorable monsoons. “As we move ahead, we should see reasonable volume growth, while price growth is likely to be modest. We remain bullish on the market in the long-term,” he observed.
(With inputs from TOI)
“The impact that technology will have on us, the impact that climate change will have on us is understood... we have to gear up to deal with it, but the direction is known,” TOI quoted him as saying. Paranjpe added that the current global climate has seen decades of globalisation give way to protectionism, creating challenges for companies that are used to a stable world order.
Paranjpe stressed that, unlike some other countries, India’s strong domestic consumption and reduced reliance on exports provide a relatively stable footing. “India might even have an opportunity through all the resetting of the global order,” he remarked, noting that while businesses may avoid the immediate impacts of global uncertainty, they will need to manage the second-order effects. This shift is expected to shorten traditional “payback periods” for firms.
He emphasised that trying to predict the future is nearly impossible in today’s unpredictable environment. “Finding a way by which you can structurally build in agility and the capacity to respond becomes far, far more important,” Paranjpe explained. He added that businesses now need to focus on shorter payback periods and enhance their ability to adapt quickly.
Paranjpe also underlined the role that companies must play in creating a developed India, stressing that economic growth should go hand in hand with environmental sustainability and social progress. “We are embedding technology across our value chain to enhance agility and resilience,” he said, adding that Hindustan Unilever is committed to leveraging technology to respond to changing consumer sentiments in an increasingly digital world.
Looking ahead, Paranjpe expressed optimism about the FMCG sector, citing expectations of improved growth thanks to low inflation, tax benefits, and favorable monsoons. “As we move ahead, we should see reasonable volume growth, while price growth is likely to be modest. We remain bullish on the market in the long-term,” he observed.
(With inputs from TOI)
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