Nestlé India cuts prices, passes GST benefits to consumers: Chairman Manish Tiwary
Nestlé India said the revised rates have been communicated transparently through announcements in national and regional newspapers, as well as directly to wholesalers, distributors, and retailers
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Nestlé India’s newly appointed Chairman, Manish Tiwary, announced on Monday that the company has passed on the benefits of the recent Goods and Services Tax (GST) reductions to consumers.
In a stock exchange filing, Tiwary said, “The GST rate reduction is a positive step for consumers in India, as it will stimulate consumption and contribute to the overall growth of the economy. Nestlé has been an integral part of India for over 113 years, and consumers are at the heart of our business. We remain committed to the single purpose of serving consumers in all possible ways.”
The FMCG major said the revised rates have been communicated transparently through announcements in national and regional newspapers, as well as directly to wholesalers, distributors, and retailers.
On Monday, the government rolled out revised GST slabs across India, lowering tax rates on daily essentials and food products to 5% or nil. Nestlé India has already implemented price cuts—Maggi noodles (pack of 12) dropped from Rs 120 to Rs 116, Nescafé Classic (45g) by nearly 30% to Rs 235, and Nescafé Gold by Rs 95 to Rs 755.
Other FMCG companies have also announced price cuts in response to the GST changes. Hindustan Unilever reduced Dove shampoo (340 ml) from Rs 490 to Rs 435, Horlicks (200g) from Rs 130 to Rs 110, Kissan Jam (200g) from Rs 90 to Rs 80, and a four-pack of Lifebuoy soap (75g each) from Rs 68 to Rs 60.
Dabur slashed Real Juice (1L) to Rs 122 from Rs 130, Chyawanprash (900g) to Rs 440 from Rs 475, Hajmola pills (120 tabs) to Rs 65 from Rs 70, and toothpaste (200g) to Rs 135 from Rs 153.
Varun Beverages reduced prices of Tropicana Apple Juice (1L) to Rs 105 from Rs 115, Slice Mango Juice (1.2L) to Rs 65 from Rs 70, and Aquafina water (1L) to Rs 18 from Rs 20.
Reliance Consumer Products cut the price of 1L cow ghee by Rs 50, from Rs 750 to Rs 700. Dairy majors Amul and Mother Dairy also announced cuts across ghee, cheese, curd, butter, and spreads.
