Britannia CEO and Managing Director Rakshit Hargave has played down Reliance Industries' ability to repeat its soft-drink discounting strategy in biscuits. Many existing biscuit packs already sell for 5 or 10 rupees, he noted on a post-earnings call, Reuters reported on Nov. 6, 2026.
Reliance expanded its Independence biscuit range in Tamil Nadu earlier that week, with packs starting at 5 rupees. The expansion came days after the company designated biscuits a focus category for its consumer business, Reuters reported.
The comparison is with Campa, the soft-drink brand Reliance relaunched three years earlier. Reuters reported that its aggressive pricing triggered a price war with Coca-Cola and PepsiCo. Hargave argued that repeating that approach would be more difficult in biscuits.
“A large part of the market operates at 5 rupees and 10 rupees, 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 rupees or 10 rupees,” Hargave said, according to Reuters.
That was not an outright dismissal: Hargave also described Britannia as “watchful” of competition from Reliance.
A. Manikandan, founder of Tiger Consulting, shared his assessment. “At 5 rupees and 10 rupees, there is very limited room for aggressive price reductions without compromising profitability,” he said in the Reuters report.
