MUMBAI: Indians are buying less of everything as the economy is losing steam, slowing down for the third consecutive quarter. One indication of this is the changing commentary of managements, which are aimed at pacifying the shareholders at a time of unusual circumstances.

Major fast moving consumer goods (FMCG) companies are suffering the impact of rural distress. Sales growth of even basic products like atta, hair oil and toothpaste have declined.

ITC, while announcing its la .......................ET