India is emerging as a critical long-term growth market for global consumer companies, with rising incomes, rapid urbanisation, favourable demographics and a large middle class creating a powerful consumption opportunity.
Top executives from Coca-Cola, Mondelez International, Unilever, Danone, Archer-Daniels Midland (ADM; American food company), L’Oreal and Reckitt Benckiser highlighted India’s growth potential at Barclays’ Global Consumer Staples Conference 2026. Their comments point to a broader shift: India is increasingly becoming a strategic growth market for multinational companies, rather than simply an emerging-market opportunity.
For Coca-Cola, India is a long-term bet. Chief Executive Henrique Braun said the company sees further room to grow by getting the basics right—from brands and packaging to distribution and revenue management. Seven of the country’s top 10 brands are Coca-Cola brands, including four global and three local brands acquired by the company.
Reckitt is seeing similar momentum. CFO Shannon Eisenhard said the company has routinely delivered high-single-digit to low-double-digit growth in India, driven by expanding reach and what she called an ‘incredible execution engine’.
ADM, meanwhile, pointed to a different dimension of India’s importance. Its expanding Global Capability Centre is helping supply high-value digital and corporate talent to support the company’s operations globally, making India an increasingly important base not just for consumption but also for capabilities.
L’Oréal executives (including CFO Christophe Babule) presented a strong update on global operations, noting that emerging markets overall (including India) grew by about 10%. L’Oréal has projected that India (currently among its top nine markets globally) will break into the top three beauty markets worldwide within five years, trailing only the US and China. The company estimates that rising wealth creation will bring 150 million new Indian consumers into its addressable market over a five-year window, accounting for roughly a quarter of all new consumer recruitment for L’Oréal globally.
For Unilever, India stands out even more. CEO Fernando Fernandez said India is its largest emerging-market business and potentially the only large FMCG market offering ‘exponential growth’ over the next five years.
That outlook is also influencing capital allocation. Fernandez said India and the US are the two markets where Unilever is directing its acquisition budget, which is roughly €1.5-2 billion ($1.7-2.3 billion) annually.
Mondelez sees substantial headroom across distribution, premiumisation and newer channels. CFO Amit Banati said the company is expanding its premium chocolate portfolio, including Cadbury Silk, while increasing its retail reach.
The company currently has visi-coolers in roughly 3 million outlets, compared with an estimated universe of 9-10 million, leaving significant room for expansion. Quick commerce is another major growth channel.
New products are also finding traction. Mondelez COO Luca Zaramella said its Lotus Biscoff biscuit line in India sold out in a record six months.
Danone, too, sees India as a significant long-term growth market, with specialised nutrition at the heart of its strategy. The company plans to expand cautiously while maintaining profitability in an intensely competitive market, chief executive Antoine de Saint-Affrique said.