70 percent of Hindustan Unilever Ltd's (HUL) advertising expenditure on TV, said Srinivas Phatak, chief financial officer of the company.

"TV is still the largest medium and there is no way it is going to go away in a country like India, at least into the foreseeable future," said Phatak, in an interview with CNBC-TV18.

"Television ruled because that was the only way we could communicate,” he added.

Talking about business, Phatak said, "Ours is a simple business, it’s about meeting the unmet needs of the consumers." "fundamentally in the last 20 years everything about our business has been transformed and a lot of has been tech led."