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India's Cosmetics Market Shows Strong Growth; Attracts More Foreign Players

December 26, 2013: 12:00 AM EST
India’s cosmetics market is growing at 15–20 percent annually or twice as fast as the markets in Europe and the United States. Currently valued at Rs.29,000 crore, or $4.5 billion, the market continues attracting foreign cosmetics brands. Among the factors driving the market’s growth are growing awareness among the country’s middle class, increase in number of department stores, and the huge growth opportunities for both foreign and local cosmetics brands. Although foreign brands, which are preferred by well-informed consumers, are dominating the market, local cosmetics manufacturers are also thriving, market analysts said.
Natalia Ningthoujam , "Indian cosmetics market booming; spells profits for global brands (2013 in Retrospect) ", First Post, December 26, 2013, © Firstpost
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