Parle Declining

Parle Products Pvt Ltd, the leading company of biscuit making is laying off up to 10,000 workers. Economic growth has slowed down and its demand its demand in rural land is declined. It has forced them in production cuts.  Mayank Shah, the category head at Parle informed that a drop in Parle’s biscuit sales means the company will have to layoff 8 to 10,000 jobs. He said, “The situation is so bad, that if the government doesn't intervene immediately ... we may be forced to eliminate these positions”. 

He further informed that demand for Parle G dropped in India since the introduction of GST in 2017. Due to higher costs, they reduced the count of biscuits in their packets. This has reduced the demand from rural areas which was half the contributor to their income. 

Not just Parle, Britannia Industries Ltd is also facing a crisis. Varun Berry, Managing Director of the company said, “consumers were “thinking twice” about buying products worth just Rs 5. Obviously, there is some serious issue in the economy,”.