Emerging Asia led by China and India will become the world’s largest consuming block, overtaking North America by 2020, redefining the world of business, according to Hindustan Unilever Harish Manwani.
Despite concerns over slowdown in sales in the sort term in India, Manwani expressed confidence in the medium to long term growth prospects of the FMCG sector in the country.
“For the last century, the developing world produced for the developed world to consume. But by 2020, emerging Asia will become the world’s largest consuming block, overtaking North America. This changing balance of power is redefining the world of business,” he said. He was referring to the rise of the developing world, the economic growth of countries like China and India .