Global FMCG major Procter & Gamble will be bullish on winning consumers in emerging markets of India and China as it eyes increased sales in the two strong economies,its new chief said on Thursday.
“We will continue to grow in emerging markets and focus even more in winning consumers in India and China,” Robert McDonald,who takes over as P&G’s new President and CEO from July 1,said in a conference call.
He said currently the per capita spending on P&G products is less than a dollar per person a year in India and three dollars in China.
“If over time we increase the per capita consumption in both India and China to the level we see currently in markets like Mexico it would generate an incremental 40 billion dollars in annual sales,” he said.
At present,the company serves about 3.5 billion people of the nearly seven billion world population. It is eyeing to reach at least another billion or more in the decade ahead.
McDonald said P&G hopes to more-than-double its annual sales to 175 billion dollars over the next 15 years mostly in countries with booming populations and still-developing economies.
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