Nipun Mittal on India’s Evolving Economy and the Rise of Purpose-Driven Consumer Brands

As India navigates a complex global economic landscape, the country’s domestic market is quietly demonstrating resilience and for entrepreneurs like Nipun Mittal, CEO of Anaaya Cosmetics, this phase presents both responsibility and opportunity. From shifting consumer behaviour to the steady rise of digital-first brands, Nipun believes the current economic environment is reshaping how businesses must engage, innovate, and grow.

“The current economic scenario reflects a phase of cautious stability,” Nipun Mittal observes, pointing to a noticeable shift in consumer sentiment across urban and semi-urban India. While global uncertainties continue to influence supply chains and costs, Indian consumers are becoming more intentional with their spending. “We are seeing more mindful spending, where customers are prioritising value, quality, and trust over impulse purchases,” he adds.

This evolution in consumer mindset has significant implications for the beauty and personal care industry, especially for homegrown brands like Anaaya Cosmetics. Rather than chasing aggressive discounting or trend-driven launches, brands are now expected to build credibility, consistency, and emotional resonance. “For brands like Anaaya, this shift reinforces the importance of delivering purposeful products and transparent communication,” Nipun Mittal explains. According to him, trust is no longer a brand asset, it is a prerequisite.

Despite ongoing challenges such as inflationary pressures and global volatility, Nipun remains optimistic about India’s economic fundamentals. He highlights the resilience of domestic consumption as a key stabilising force. “While challenges remain, the growing resilience of domestic consumption and the steady expansion of digital retail channels provide a strong foundation for long-term, sustainable growth in the Indian market,” he says.

Digital adoption, in particular, has emerged as a powerful growth enabler. From discovery to purchase, consumers are increasingly relying on online platforms to evaluate brands, read reviews, and make informed decisions. For D2C brands, this has levelled the playing field allowing innovation, storytelling, and customer experience to matter as much as scale.

Looking ahead to the upcoming fiscal year, Nipun Mittal expects India’s growth trajectory to remain steady and inclusive. “We expect broad-based economic growth driven by domestic consumption, digital adoption, and the continued rise of homegrown brands,” he notes. He believes that sectors such as retail, beauty, and D2C are uniquely positioned to capitalize on this momentum, provided they remain agile and consumer-centric.

Supportive policy frameworks and a continued focus on ease of doing business will also play a critical role in sustaining this growth. “With improving consumer confidence and supportive policy frameworks, sectors like retail and D2C are well positioned to contribute meaningfully to this momentum,” Mittal says. He emphasises that long-term success will depend not just on expansion, but on building resilient business models that can adapt to changing market dynamics.

For Anaaya Cosmetics, this means staying rooted in purpose while scaling responsibly. Mittal believes that brands which listen closely to their consumers, invest in quality, and operate with integrity will emerge stronger in the years ahead. “A continued focus on strengthening consumer demand can help ensure sustainable and resilient growth,” he concludes.

As India’s economy enters its next phase, voices like Nipun Mittal’s reflect a broader shift in entrepreneurial thinking—one that values trust over hype, sustainability over speed, and long-term impact over short-term gains.