Private consumption projected to reach US$ 1.9 trillion by 2030, driven by rising disposable incomes, rapid urbanisation, an expanding middle class, deeper internet penetration, and digital payments ecosystems: FICCI-Deloitte Report
NEW DELHI, 04 August 2026: Ms Nidhi Khare, Secretary (CA), Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution, Govt of India, while addressing FICCI MASSMERIZE 2026 today, emphasized the need to focus on quality standards. “The time has come for us to realize that we cannot grow unless we address quality concerns in our manufacturing processes and in the way we sell products to consumers. There has been an increase in the number of consumer complaints,” she added.
The Secretary further stated that, in order to reduce the number of complaints, the government is supporting the industry. “This is the first time that, under the Legal Metrology Act, we will be issuing Improvement Notices to manufacturers and retailers, giving them time to rectify minor mistakes before the case is taken up for compounding,” she added.
Speaking on standards, Ms Khare also said that the Department is working on introducing ‘Smart Standards’ so that they are accurate and machine-readable, thereby reducing the compliance burden on industry. “We are trying to complete the process by World Standards Day on 14 October. This will bring India into the club of developed countries where standards are becoming smart standards,” she noted.
She further noted that there is a need to increase the testing infrastructure in the country. “We need to scale up our testing infrastructure to test more samples with greater accuracy and less human intervention. We are going to start using AI and robotics to enhance the testing infrastructure. This will also help bring down testing costs for MSMEs and enhance the accuracy and traceability of tests,” added Ms Khare.
Mr Jeyandran Venugopal, Chair, FICCI Retail and Internal Trade Committee and President & CEO, Reliance Retail Ventures Ltd., said that innovation is not only about serving consumers but also about how businesses are managed internally. “The way Gen Z consumes products today is very different from how other generations consume products. Understanding and aligning products with the needs of different generations is important,” he added.
Mr Manish Anandani, Co-Chair, FICCI FMCG Committee & Managing Director, Kenvue India, said, “India’s consumer economy remains one of the most compelling growth stories globally, with the FMCG sector serving as a key driver of inclusive development, job creation, as well as shaping the future of everyday health and well-being for millions of consumers. Powered by rising consumer aspirations, rapid digital adoption, and a vibrant innovation ecosystem, the sector continues to play a pivotal role in advancing India’s vision of Viksit Bharat 2047.”
Ms Jyoti Vij, Director General, FICCI, said, “India today stands at the cusp of a remarkable transformation. Consumers today seek not only quality products but also personalised experiences, convenience, transparency, trust, and sustainable choices. Businesses, in turn, are leveraging technology, omnichannel strategies, and innovation to remain competitive.”
The FICCI-Deloitte report, Consumer Trends: IGNITEing Growth and Governance, was released during the inaugural session.
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