New Delhi, Dec. 15 -- After more than four decades at Wipro, Vineet Agrawal is preparing to retire next month as chief executive officer of Wipro Consumer Care & Lighting and managing director of Wipro Enterprises. As he does, Agrawal is clear-eyed about the challenge ahead for the homegrown FMCG business: it remains a "fairly small" player and must grow across multiple categories to scale faster.

With interests spanning personal care, home care and domestic lighting-and a recent push into packaged foods-Agrawal said India's low category penetration offers significant headroom for growth. While Wipro Consumer's debt-free balance sheet gives it room to pursue acquisitions, these will be selective and strategic, he said, adding that organi...