According to a survey, most of the country’s population utilizes household products from over 30,000 small and medium businesses, while only 20% use items offered by large companies. On the other hand, according to a report by traders’ body CAIT, products of Fast Moving Consumer Goods (FMCG), consumer durables, and cosmetics from over 30,000 small and medium businesses cater to the demand of 80% of India’s population.
Foodgrains, oil, groceries, personal cosmetics, innerwear, ready-made garments, beauty and body care, footwear, toys, educational games, and healthcare were all included in the survey.
“It’s a myth that about 3,000 big brands of corporate houses, particularly in the FMCG sector, consumer durables and cosmetics etc, are catering to the needs of the people of the country. In fact, more than 30,000 small and medium but regional level brands are the largest contributor in meeting the demand of the people of India,” CAIT (Confederation of All India Traders) said.
The survey said that most people’s needs are met by tiny and small-scale manufacturers’ items supplied in modest quantities.
Due to intensive media and outdoor exposure and celebrity endorsements, big brands are popular among the upper and upper-middle classes, according to CAIT Secretary General Praveen Khandelwal.
On the other hand, small-scale manufacturer’s brands are sold through one-on-one interactions between consumers and shopkeepers, as well as word-of-mouth among individuals of medium and lower-medium income groups, as well as those from economically disadvantaged groups, he added.