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The panacea for the FMCG giant’s tepid growth lies in small-town and rural India. But that’s also shaping up as the new battleground for competitors looking to challenge its dominance.

The beauty and personal care company has beaten its own margin target and posted standout volume growth. But with the action shifting beyond flagship Mamaearth, the durability of its momentum remains unproven.
Stories of great outcomes and easy funding kept the sector on its toes. The momentum is expected to continue going into 2026, but startups may need to rethink their strategy.
The economy grew strongly despite several headwinds, with the policy responses mostly fitting the need. How sustainable is the growth rate, though?