Indian biscuit manufacturer Britannia Industries has confirmed to just-food that it will set up a bakery and an R&D centre on the outskirts of Bangalore.
A spokesman said today (18 July) that the move was part of a general expansion strategy to meet growing demand for its products and added: “To augment our capacities and have just signed a memorandum of understanding with the Karnataka government where we plan to invest to augment capacity to support our growth.”
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The state government of Karnataka, which has planning authority over major investments in Bangalore, gave the go ahead for the INR1bn (US$22.4m) plant in the city’s Doddaballapur district on Thursday
Britannia, which is based in Bangalore, reported a 24.7% rise in net profit to INR1.45bn for the year to 31 March. Sales climbed 23.8%.
