Nestle SA, a multinational food and beverage conglomerate, intends to invest INR5,000 million in India by 2025. The company's core business will likely grow faster in the country as a result of the investment, which will also enable it to take advantage of growth prospects.
Nestle India Limited’s revenue in FY2021 stood at INR14,709.4 million, an increase of 10.2% over that in FY2020. The company last invested INR700 Million to open a plant at Sanand in Gujarat to manufacture a range of Maggi instant noodles.
The investment would consist of capital expenditure, setting up new plants, acquisitions, and expansion of the product portfolio of the company. Nestle, which has nine factories in India and employs around 6,000 people, is also examining other places to set up manufacturing facilities, which will also help create new job opportunities in the domestic market.
Nestle’s chief executive officer, Mr Schneider, stated that the company has been present in India for over 110 years, but started its manufacturing operations only in the early 1960s. The investment is meant for accelerating and increasing capital expenditure, apart from carrying out development works and brand building.
According to GlobalData, in FY2022, the market value of food and grocery retail is expected to be $628,158.8 million in India, which is one of the top five retail markets globally by economic value. India is one of the fastest-growing retail markets in the world. The market is expected to grow annually by 8.01%.
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