World Economic Forum 2026: Godrej chases deals in India’s hot consumer space

Indian real estate-to-dairy conglomerate Godrej Industries is eyeing acquisitions in ⁠the consumer goods and animal feed sectors despite the high valuations of young companies, the group chair has said.

Dealmaking in the Indian consumer goods and retail sector has picked up as ‌large groups ‌chase growth, reaching a four-year high for January-September, investment bank Equirus Capital said.

Also Read: As we build opportunities, we'll put plenty of money to work in India: Blackstone CEO Stephen Schwarzman at Davos


"We are constantly looking for ‌acquisitions," Nadir Godrej told the Reuters Global Markets Forum on Thursday, on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

Godrej Consumer Products last year bought men's grooming brand Muuchstac for about 4.5 billion rupees ($49 million).

Strong demographics, rising consumption and ​supportive policies continue to attract capital to the ​world's fourth-largest economy, Rahul Saraf, head of investment banking at Citi India, told ‌the GMF ‍in Davos.

But high valuations are sometimes a pain point.

Also Read: Leaving Davos: When the conversations end, and the work begins

"Part ‍of the high valuation in India is because it ‌has very high growth rates. You don't have those growth rates in Europe or in America," Nadir Godrej said. The International Monetary Fund forecasts India's economy will expand more than 7% in fiscal 2026, far outpacing the global average, while its communications department director called the country "a key growth engine for the world".

Nadir Godrej also said the group's food and ‍agri business, Godrej Agrovet, is looking for prospects in the animal feed category, but "never found a really good target" as most peers are ‍regional.

In light ⁠of U.S. tariffs ⁠on imports from India, the group's consumer business is "working harder in other markets" even though its direct exports to the U.S. are minor, Godrej said.

The group, home to Godrej Properties, does not expect a slowdown in its real estate business, he said. Analysts polled by Reuters say a boom in the luxury housing sector will peter out within five years.