Aditya Birla Group Chairman, Kumar Mangalam Birla on Friday said that he believes the Group’s revenue from consumer businesses will increase by over 25 per cent over the next five years to reach about 25 billion dollars.
“The Aditya Birla Group stands at an exciting juncture. Many of our businesses are poised for transformational growth, while new ventures are emerging with great promise. We are not just expanding in size but also diversifying in scope. By blending the strength of our established businesses with the fresh energy of our new ventures, we are constructing a unique growth platform,” he said during the launch of the company’s jewellery brand Indriya.
Birla stated that 20 per cent of Group's revenue today comes from consumer businesses and he believes this will increase to over 25 per cent over the next five years to reach about 25 billion dollars of revenue. This would be larger than most leading standalone consumer businesses in India. One of the key drivers for this will be the successful ramp-up of our newest consumer businesses - Paints and Jewellery retail.
While emphasising the importance of the Jewellery industry Birla said, “The Indian gems and jewellery industry represents a true economic behemoth. With a current market size of Rs 6.7 lakh crore, the industry is poised to grow to Rs 11 – 13 lakh crore by 2030. More than 60 per cent of the industry is still unorganised. There are only a handful of national players. The largest national brand commands only 6 to 7 per cent of nationwide market share.”
He added, the gems and jewellery industry also stands out for its impressive value creation story. It contributes 7-8 per cent to India's GDP, and significantly impacts the economy by creating jobs, developing skills, and boosting exports.
