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No job losses yet, Parle senior category head, “Mayank Shah” clarifies on BTVI

No job losses yet, Parle senior category head, “Mayank Shah” clarifies on BTVI





Mumbai, 23rd August 2019: Parle Products Pvt Ltd, a leading Indian biscuit maker was in controversy because of the news spread on the layoff of over 10,000 workers due to the slowing economic growth and falling demand in the rural heartland which could cause production cuts.



Speaking with Muralidhar Swaminathan, the Channel Director of BTVI, on the job losses issue and the current scenario, Mayank Shah, Sr category Head at Parle Products shared that there’s a definite slowdown. He further highlighted that the issue of job losses has been blown out of proportion which is inappropriate. He said the consumption of a basic INR 5 packet has taken a hit due to a high GST rate which has affected the overall run. 



Shah also mentioned that the sales have declined by 7-8 percent for biscuits below INR 100 per kg, which attracts 18 percent GST. He said low demand and high GST rate will eventually lead to the production slowdown and maybe job cuts. Shah said demand for the popular Parle biscuit brands such as Parle-G had been worsening since India rolled out a nationwide goods and services tax (GST) in 2017, which imposed a higher levy on biscuits costing as low as INR 5 but this shall have no impact on the employment.





Watch full story: https://www.youtube.com/watch?v=POFn7jEHrps&t=51s



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BTVI is a fast-growing multi-platform news channel that provides best in class business and news coupled with highly engaging content for financial and business news audience across India. BTVI is the only Free to Air English Business and news channel and is available on all leading DTH and cable TV Platforms and reaches millions of English-speaking viewers across the country. The channel live stream is available on http://www.btvi.in/livetv and we are on Twitter @BTVI and on Facebook as BTVI Live. Subscribe to our WhatsApp news broadcast service https://www.btvi.in/whatsapp    

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