New Delhi, Jan. 9 -- India's consumer sector is expected to witness a gradual demand recovery in the third quarter of FY26, led by a pick-up in Fast-moving consumer goods (FMCG) consumption and strong momentum in the jewellery segment, according to a preview report by Centrum Institutional Research.

The brokerage expects the FMCG sector to benefit from the impact of GST rationalisation, restocking by trade channels and supportive macroeconomic conditions such as easing inflation, benign crude prices, healthy monsoon and improved rural sentiment.

Centrum estimates FMCG to post 6.6% year-on-year revenue growth in Q3FY26, driven by nearly 4% volume growth. Gross margins are projected to expand by 17 basis points year-on-year to 52.2%, whil...