The Indian cosmetics market has been growing consistently at around 15% annually, and given the country’s large and growing population, much of which still spends very little on cosmetics, long term growth seems assured. This is the assessment of Technopak, a consultancy firm based in Gurgaon, near New Delhi. “This implies that the market has a much higher growth potential and will continue to show impressive results in the coming years,” Pragya Singh, the company’s Associate Vice President for Retail and Consumer Products, tells SPC Asia.
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