Need to be 'schizophrenic' to tap India's potential: Unilever

New Delhi, Nov 1 (PTI) Stating that India is a 'paradox of opportunities', Unilever Chief Operating Officer Harish Manwani says one needs to be 'schizophrenic' to tap opportunities at both the bottom and top end of the market here. "In markets like India, it is important to make sure we are able to cover different consumer segments by bringing products in different price points.... Affordability and accessibility is important," Manwani said at AdAsia 2011 here. Manwani, who is also the Chairman of Hindustan Unilever (HUL), said while the focus has been on making products affordable and make money out of it, the Indian market has evolved and there are now opportunities in the upper segment. "India is changing and the beauty of India is the dichotomy and paradox of opportunities (it presents).... Now there is opportunity at the top end. You got to be schizophrenic in this market (to tap the potential).... So affordability and premiumisation is important," he said. Highlighting the importance to make products affordable and make money out of it, Manwani said: "In many of our categories, half of our business comes from products that sell under Rupees 10 (about 20 US cents) and (in) many cases Rs 2 and Rs 5. So the question is how to create affordability." He also said accessibility and the ability to reach consumers where they are is very important. Highlighting the importance of markets like India and China, Manwani said: "90 per cent of the (global) economic growth would come from emerging markets and 50 per cent of our business comes from the emerging markets. We are an emerging market company." He said by 2020, a large population will be in the developing world of which Asia is going to be the largest consumer block. Over 1,200 delegates from over 25 countries are taking part in the AdAsia 2011 meet. PTI Caption for pic: India's Information and Broadcasting Minister Ambika Soni (R) releasing a book "Adkatha", the story of Indian advertising documenting the Indian ad journey from 1948 to 2010, by Indian ad legends Bal Mundkur (C) and Gerson Da Cunha during the opening ceremony of the "adasia 2011" in New Delhi on Tuesday. PTI Photo