Suresh Narayanan

Consumption of packaged consumer goods is set to double in India with the bottom-of-pyramid segment shrinking, younger people coming into the workforce, the divide between rural and urban consumers diminishing and a meteoric rise of the digital workforce, Nestle India chairman Suresh Narayanan said on Friday. Narayanan, who leads India’s largest packaged foods company, said 140 million households are expected to be added to the aspiring and affluent set of consumers by 2030, which is “clear indication” of the growth potential of packaged consumer-facing brands.