MUMBAI - India's FMCG industry hit a 10.6% growth rate in February, the highest in the past five years.
The growth was broad-based with each of the top ten categories recording double-digit rates.
Industry lynchpins like Hindustan Lever, Procter & Gamble, Marico, Ruchi Soya, Dabur, Colgate and Britannia are among those expected to log figures of over 25% for the quarter ended March 31.
The surge is attributed to a leap in demand for premium products and a sharp decline in downtrading.
Shampoos, biscuits, washing powder, refined oil and skin cream sales registered double-digit growth. According to economists there is buoyancy both in the "highly-penetrated" and "niche" categories.