Industry Outlook for 2025

Fast-Moving Consumer Goods (FMCG)

Consumer behavior is evolving rapidly, with sustainability, premiumization, and personalization emerging as key trends. Urban consumption is expected to stabilize, while rural demand is positioned for sustained growth.

Expert Quote: "We have strategically diversified our portfolio to align with evolving trends, with a sharp focus on premiumization, sustainability, and digital transformation." - Saugata Gupta, CEO & MD, Marico Ltd.

Passenger Cars and Electric Vehicles (EVs)

The Indian passenger vehicle market is expected to grow in the next year. Tata Motors aims to build on its momentum and bring new SUVs to its portfolio. The company is also focused on strengthening its leadership in the EV space.

Expert Quote: "We are optimistic about the growth of the Indian passenger vehicle market. Our goal is to build on our momentum, grow our market share, and bring exciting new SUVs to our expanding portfolio." - Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Ltd.

Start-Up Ecosystem

India's start-up ecosystem has demonstrated resilience despite global uncertainty. Most start-ups have focused on stable unit economics, governance frameworks, and IPO readiness. This has attracted investors and supported growth.

Expert Quote: "Indian start-ups have shown a shift in their behavior, doubling down on stable unit economics and demonstrating their growth potential. This is being rewarded by India's public markets." - Pranav Pai, Founding Partner & CIO, 3One4 Capital

Cement

Cement demand has been affected by the political climate and government spending patterns. However, with elections behind us and positive economic indicators, the sector is expected to rebound in 2025-26.

Expert Quote: "The necessary base corrections having taken place in 2023-24 and a new equilibrium reached after frenetic consolidation - FY 25-26 is poised to start on a strong footing." - Sandip Ghose, MD & CEO, MP Birla Group

Consumer Electronics

India's consumer electronics sector is poised for growth due to rising demand for energy-efficient products and government initiatives. Policies like the PLI scheme have catalyzed local manufacturing, making India a global hub for the sector.

Expert Quote: "India's consumer electronics industry is expected to make significant contributions to the country's GDP and job creation by 2025." - Manish Sharma, Chairman, Panasonic Life Solutions India & SA.

Two-Wheelers

The two-wheeler industry is expected to continue its steady growth in 2025. The rural market is driving growth, as is the increasing disposable income of the expanding middle class.

Expert Quote: "The year 2025 will be very exciting and interesting for the two-wheeler industry, building on its steady performance in 2024." - KN Radhakrishnan, Director & CEO, TVS Motor Company

Commercial Vehicles

The automotive industry is undergoing significant transformation due to factors like ACES (Autonomous, Connected, Electric and Software), Sustainability, and Digital. The shift towards greener mobility and the rapid advancement in technology are driving innovation in the sector.

Airlines

India's aviation industry is expected to witness sustained growth in the coming year. Supportive government policies and infrastructure development will further enhance capacity requirements. Akasa Air has registered healthy demand across its network, highlighting the growth potential in the sector.

Expert Quote: "We are entering the golden decade of aviation and will witness increased growth and stability every year in the next decade." - Vinay Dube, Founder & CEO, Akasa Air