Indian reports have speculated that French dairy giant Danone is gearing up to re-enter the Indian food sector after selling its stake in Britannia, its JV with the Wadias Group, earlier this year.
According to a report in The Press Trust of India, Danone has received approval to operate in various areas, including biscuits, mineral water, cereals, dairy, baby food and medical nutrition products from the Foreign Investment Promotion Board.
The proposal will now go to Finance Minister Pranab Mukherjee for final approval, the report said, citing unnamed sources.
Danone sold its stake in Britannia under a cloud after Wadia accused the group of illegally using Britannia’s Tiger trademark. The group also reportedly objected to Danone’s plans to enter the market in a standalone enterprise.
Danone was unavailable for comment as just-food went to press.
