Fast-moving consumer Goods (FMCG) major Unilever, the parent company of Hindustan Unilever (HUL) , stated that the Indian unit was well positioned over the medium term, despite the transitory effect on its September quarter sales due to reduction in trade inventory and delayed consumer purchases in anticipation of lower prices as the government reduced Goods and Services Tax (GST).

The FMCG giant is anticipating trade in India to stabilise by November.

“The macro environment in India continues to be favourable. Earlier in the year, personal income tax and interest rates were lowered. In September, the Government reduced GST (or sales taxes) to 5 per cent on around 40 per cent of our portfolio, making affected products roughly 10 per cent cheaper,” said Srinivas Phatak, Chief Financial

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