India’s FMCG and jewellery sectors are witnessing a cautious but visible rebound in the first quarter of FY25, driven by improved urban sentiment and rising demand for beauty products, packaged foods, and bridal gold. Companies such as Dabur, Marico, Godrej Consumer Products, and Kalyan Jewellers have reported better-than-expected performance, with segments like personal care, ready-to-eat snacks, and jewellery seeing renewed interest.

While urban markets are showing stronger growth owing to festival-linked demand and easing inflation, rural recovery remains fragile. Kalyan Jewellers, in particular, experienced a significant spike in bridal jewellery purchases, especially from South India, despite fluctuations in gold prices.

The broader industry attributes this recovery to stable macroeconomic conditions, improved wage growth, and an increase in promotional activity. However, experts caution that consistent growth across categories will depend on rural volume revival in the coming quarters. For now, beauty, biscuits, and bridal gold are shining bright on the balance sheets of India’s consumer giants.