Tech Innovations and Consumer Change is Driving Green Revolution: Experts When the consumer changes the habit and accepts the product that's when all of the infrastructure, manufacturing plants, and supply chain will make it more sustainable, said Amrita Asrani, Chief Marketing Officer, Amway.
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Technology innovation will enable all of that green revolution when it comes to building the infrastructure, changing our supply chains, and our manufacturing units, said Amrita Asrani, Chief Marketing Officer, Amway.
She was speaking at the panel discussion on unleashing tech to achieve sustainability goals, at 14th edition of Entrepreneur Summit 2024, in Bharat Mandapam.
According to IBEF, FMCG market reached USD 167 billion as of 2023. The total revenue of the FMCG market is expected to grow at a CAGR of 27.9 per cent from 2021-27, reaching nearly USD 615.87 billion.
"In 2022, the urban segment contributed 65 per cent whereas rural India contributed more than 35 per cent to the overall annual FMCG sales. Good harvest, government spending expected to aid rural demand recovery in FY24," it stated.
Amrita said, "It will be possible when the consumer will accept the products which are more sustainable as changing habits is the most difficult thing. When the consumer changes the habit and accepts the product that's when all of the infrastructure, manufacturing plants, and supply chain will make it more sustainable."
On asking about managing high capex of initial vehicle and coming down to lower operating costs as India's adoption in electric vehicles is not as fast as it should be, Nikhil, CEO, Gentari Green Mobility said that there are multiple issues in adoption but we have narrowed down on two key things.
"One is your affordability because EVs basically have a higher capex and the second part is convenience. Through our leasing model we spread out the capex over the entire useful life of a vehicle, so therefore, the initial investment that making this transition. So in green mobility, we electrify the ecosystem. We lease out electric vehicles to B2B customers, fleet operators, and we set up charging infrastructure for them," he added.
Speaking on how infraMarket is installing sustainable products into the product portfolio, Abhijeet, Chief Strategy Officer, InfraMarket said that we are the largest manufacturers of AAC blocks that are replacing bricks.
"The industry is transforming towards sustainability. In our wood division, we are more focused on MDF than the plywood as it involves cutting of trees. There is sustainability across all product categories and we just have to see it," Abhijeet added.
