"If you are running Unilever, you would not swap our Indian business with any other business," Unilever's new chief executive officer Fernando Fernandez said at a fireside chat with Barclays in London. India is the second-biggest market for Unilever, accounting for 12% of global sales. However, its growth rate has tapered off over the past year, as consumers tighten their budget amid inflationary pressures across categories."The market has been softer and food inflation was very significant in India and food inflation affects 80% of the households. The economic environment in India will get better in the second half of the year," he said in his first detailed public pronouncements after succeeding Hein Schumacher, who was dislodged by the board in a surprise move late last month. Fernandez, who was chief financial officer, took over on March 1.Local unit Hindustan Unilever Ltd (HUL) is the country's largest fast-moving consumer goods (FMCG) company and its performance is considered a proxy for broader consumer sentiment in India. In the quarter ended December, it grappled with falling revenue in the personal care business, along with slower growth in its beauty division, where the FMCG major competes with a number of new-age online brands, apart from established companies such as L'Oreal and Procter & Gamble. Qcomm Sales to Go Up in 3-4 Years With the slowdown in China, everybody has rediscovered India, Fernandez said. But Unilever's position in India remained exceptional and it has gained 200 basis points in the last three years."The rise of affluent India is very important - there are 60 million households of the 320 million households in India that have serious money," he said. "The economically active population in India is 430 million, so it's 30% (of the entire population) and probably the lowest in the world. There are 80 million female workers in India in a 750 million female population. Every time women get into the labour force at a scale, companies like Unilever really have a tailwind. I am very bullish about the long-term prospects of India regarding the changes in consumer preferences."In India, the contribution of quick commerce to ecommerce sales has been doubling every year on a small base. Quick commerce started off as a top-up service for last-minute purchases for groceries and small-ticket items, but is now the fastest-growing sales channel, especially for premium portfolios. Quick commerce accounts for 2% of HUL's revenue but Fernandez said he expects the new-age channel to contribute 10-15% in the next three-four years.Two months ago, HUL acquired direct-to-consumer beauty brand Minimalist for about Rs 3,000 crore, strengthening its position in a high-growth, premium-demand space in a key market. Also, consumer preferences in beauty are changing faster than other categories and the latest acquisition is an indication of how it will premiumise its portfolio faster."India is a very special place because richer Indians and poorer Indians live in close proximity that basically provide demand and supply of labour, making quick commerce a logical channel to grow," he said, adding that the mix in the channel is much better and favourable for margin improvement. "The only category in which we have some headwinds due to channel and segment development is in beauty. We have tailwinds in home care, in personal care, in foods, so it's not that we have a portfolio that has to be completely rebuilt in India."