Dabur India's CEO Mohit Malhotra Roots For Country's Economic Leapfrogging

In an era where advanced technology is walking hand-in-glove with the new generational mix, organisations around the globe are making the most this handshake and reaping the sweetest fruits. Asserting the same at the 18th edition of the BW Marketing Whitebook Summit 2023 in Delhi, Dabur India's CEO, Mohit Malhotra agreed on the mighty interplay of AI & the Gen Z driving a transformational change in the overall business landscape in India. It has also compelled company chiefs adapt to the new changes and tailor strategies to captivate their audiences. 

Malhotra stated, “Countries compare India to China in the growth era. According to me, it's a complete myth. If India's policies and governance don't change its way of operations in the global economy, we are going to get way ahead of China.”

He proudly highlighted India's position as the fifth-largest economy, set to reach around 6 trillion by 2030, and the significance of its indigenous market, safeguarding against global economic fluctuations.

Mohit expressed his belief that India has a unique advantage because most of what is consumed in India is produced within the country.

New generations playing the catalyst

For him, the new generations are not only living in these times but also actively shaping it, “The average age of India is 27 years old, the youngest in the world. The new generation is going to shape the world economy and trade. Gen Zs are going to be full-bloomed consumers and manufacturers. Going ahead they are going to shape the consumer sentiment.”

The young population in India is crucial for the country's progress and we are moving from providing services to manufacturing products.

Discussing consumer habits, Malhotra shed light on India's savings culture, driven by a frugal mindset, as a safety net against economic uncertainties. He underlined the impact of internet penetration, describing how India has rapidly embraced technology, particularly smartphones.

Malhotra further stated, “Internet penetration is becoming wider and wider throughout the country, be it villages, village-towns or urban areas. India is leapfrogging in every sector. From the letter era to the smartphone era, India has leapfrogged. And the other economies have not gone through this curve.”

Malhotra also delved into the changing landscape of media planning, the growth of premiumisation in the food sector and the transition from unbranded to branded products in India's future.

His take on Dabur's future

Malhotra believes that companies' advertising approach is changing and in the near future, more people will buy branded products, especially in the food sector.

Regarding the company's strategy, Malhotra highlighted a cultural shift within the company, with a strong on agility and personalisation. He stressed the importance of an entrepreneurial mindset and a strong company culture for business growth.

“Dabur is changing how it operates by encouraging innovation and adapting to new trends in the market.”, Malhotra sums.