Britannia CEO plays down Reliance’s pricing threat in India’s biscuit market

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Established low-price offerings leave limited room for aggressive discounts, even as competition intensifies and manufacturers grapple with rising input costs

By Reuters

Updated - November 06, 2026 at 12:31 PM.

Britannia CEO and ‌Managing Director Rakshit Hargave

Indian billionaire Mukesh Ambani’s Reliance Industries will find it harder to disrupt India’s ​biscuit category than soft drinks, as many existing products ‌are already sold at ₹5 to ₹​10 (5-10 US cents), Britannia Industries’ ⁠CEO said on Friday.

Reliance on Monday expanded the biscuit range under its Independence brand in Tamil Nadu, with packs ‌starting at ₹5, days after it established the segment as the “focus category” of its ‌consumer business.

The push comes after the ‌company ⁠relaunched the Campa soft drinks brand three years ⁠ago, triggering a price war with global rivals Coca-Cola and PepsiCo through cut-throat pricing, similar to its strategy in the ​telecom sector.

Britannia says biscuit market harder to disrupt

Britannia CEO and ‌Managing Director Rakshit Hargave cautioned that this approach would be challenging to repeat in biscuits.

“A large part of the market operates at ₹5 and ₹10, so the ability to ​disrupt those two price points ... is much more difficult than you can do in ⁠a cola market by discounting by ₹5 or ₹10,” Hargave said on a post-earnings call.

However, he ‌said that the Good Day maker was “watchful” of competition from Reliance, whose biscuits mirror existing products in the market.

“At ₹5 and ₹10, there is very limited room for aggressive price reductions without compromising profitability,” said A. Manikandan, founder ‌of Tiger Consulting, who shared Hargave’s view.

Britannia plans price hikes and smaller packs

On its own pricing strategy, ​Britannia said it plans to further raise prices and cut pack sizes to ⁠ease pressure from rising costs due to the Middle East ⁠war.

The company, which has been grappling with higher wheat flour, palm oil and sugar ‌costs, raised prices by 3.5% in the second quarter and shrank pack sizes in the ​first.

Published on November 6, 2026

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