Parle, India’s biggest biscuit maker, may cut up to 10,000 jobs as slowdown bites

Bengaluru: Parle Products Pvt Ltd, a leading Indian biscuit maker, might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a company executive said on Wednesday. Shah said demand for popular Parle biscuit brands such as Parle-G had been worsening since India rolled out a nationwide goods and services tax in 2017, which imposed a higher levy on biscuits costing as low as 5 rupees, or 7 cents a pack. Market research firm Nielsen said last month India's consumer goods industry was losing steam as spending in the rural heartland cools and small manufacturers lose competitive advantages in a slowing economy. Varun Berry, managing director of Britannia Industries Ltd, Parle's main competitor, said earlier this month that consumers were "thinking twice" about buying products worth just 5 rupees.