Nestle, Unilever India business weathers GST storm in Q3

The two firms said they had successfully managed the transition to GST and that local operations had improved in the Sept quarter

Consumer goods majors Nestle SA and Unilever Plc said on Thursday that they had successfully managed the transition to the goods and services tax (GST) in India, among their biggest markets in the Asian region, for the July-September period.

The two firms, while reporting their results for the September quarter, said that Indian operations were showing signs of improvement after destocking challenges seen in the June quarter.

Nestle is headquartered in Vevey, Switzerland, and Unilever in Rotterdam and London.

Unilever's emerging markets region, which includes countries such as India and China, reported a sales growth rate of 6.3% for the