India's two-tier recovery is stymied by Unilever

India's two-tier recovery is stymied by Unilever ...

MUMBAI, Jan 21 (Reuters Breakingviews) - Unilever's performance is being investigated by shareholders following its failed bid for GlaxoSmithKline's consumer company. Hindustan Unilever, a $71 billion Indian subsidiary, is rapidly gaining market share in India.

The seller of Kwality Walls frozen treats and Lakme cosmetics grew domestic sales 11% to 130.9 billion rupees ($1.8 billion) in the December quarter, compared to the same period a year earlier. HUL, a publicly traded company owned by Unilever, is growing twice as fast as the global fast-moving consumer goods market, as it takes part from smaller rivals less able to withstand rising prices.

Hindustan Unilever has re-created more than 11% of its annualized income than its parents 2%. Investors have said India is less of a challenge.

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The author of Reuters Breakingviews is a columnist. The opinions expressed are their own.

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