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1. India will overtake US as Unilever’s ‘largest business’, says Hindustan chief
Hindustan Unilever’s chief executive said he believes India, the consumer group’s biggest market by volume, will overtake the US to become the largest by value.
“I clearly see a day when HUL will become the largest Unilever business,” said Sanjiv Mehta, adding that he could not give a timeframe. The Indian subsidiary currently accounts for about 10.7 per cent of Unilever group sales, according to company data, and is one of its best-performing units.
Unilever’s portfolio is tilted towards emerging markets, with only the US exceeding the Indian market as a percentage of sales revenue. Together with China, the US and India have been earmarked by Unilever as critical markets for growth.
2. After iPhones, Apple to shift production of AirPods, Beats headphone to India
The manufacturing industry is also making moves in India.
Apple Inc has asked its suppliers to move some AirPods and Beats headphone production to India for the first time, the Nikkei newspaper reported on Wednesday.
The development comes amid Apple ramping up its iPhone manufacturing in India. On Tuesday, Bloomberg reported that Apple Inc.’s iPhone exports from India crossed $1 billion in the five months since April, signaling the South Asian nation is making progress with its bid to become a force in electronics manufacturing.
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