85th IBHA AGM 2019
“Friends, welcome and thank you for attending to the 85th AGM of your association. The ever growing contribution of each industry member and its representative is of great value to us as we continually seek to increase the strength and impact of IBHA both with the government and the consumers.
Now, a few comments and outlook on the beauty & hygiene market:
Based on the last 2 years, and I am using this 2 year metric so as to regularise the GST effect, the compounded annual growth rate has been in double digits and well above the annual GNP growth. Despite a current slowdown over the last few months, the current year should still end at a growth level ahead of our 2017 IBHA-AT Kearney report projections of 5-6% CAGR. The growth leaders in terms of categories and trends as stated in the very same report continue to be so today, namely, more premium higher quality products, more natural/organic products, new and under penetrated categories, e commerce of course, millennial consumers, and Tier 2 cities to name a few .
Thus, our Industry promises to deliver robust and sustainable growth ahead of GNP growth as our new consumers demonstrate their appetite to increase their per capita consumption.
In the back drop of this sustainable growth potential, IBHA’s mission continues to be more and more relevant that is : to accelerate the development of a trusted and innovative beauty and hygiene industry that serves its consumers with effective, safe and environmentally friendly products. During the year gone by, IBHA, your association, our association, has been very active to serve the above mission through the excellent contributions and tenacity of its EC, and its 4 committees.
Firstly, I would like to highlight that we have upgraded the “way we work ” this past year: our EC meetings have become more strategic: we fixed 6 priorities at the beginning of the year and we doggedly pursued those points all through. These 6 priorities were as follows: Plastic Waste Management- showcasing our sachet waste collection and recycling model and shaping a fair EPR regime, Consumer Protection Bill, Ayush, fighting Counterfeits in E commerce sector, liberalising the Drugs and Cosmetics Act and Rules, and those of Legal Metrology Law. The output is visible as you will see in the forthcoming presentations.
I would like to thank and acknowledge the valuable contributions of the EC members. Secondly I would like to congratulate the committees and their heads for the high quality of the various government representations including that of the drafting. Your time and talent is well appreciated.
Going forward while it is necessary to continue with these above priorities we will be adding a new one that is to increase our membership base. We have made attempts in the past but this time we will approach this task in a more strategic, detailed and persistent manner.
I would like to end with a special thanks to my fellow office bearers in doing such a splendid job for the association and in ensuring its sustainable growth.