Confectionery giant Ferrero has opened a plant in India as part of its plans to grow in the rapidly emerging market.
The 28,000 sq m site in Baramati, 100 kilometres from the city of Pune in the western state of Maharashtra, will produce Kinder Joy eggs and Tic Tac mints using locally-sourced raw materials and packaging. It will employ an estimated 1,300 people, 80% of whom will be women.
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Christian Walter, the UK managing director of Ferrero, said the factory is an important step for growth in India, as emerging markets become increasingly vital to the company.
He said: “We’re growing sales by 50% in India. A large part of our sales – about 85% – are in our developed markets, but in the next five years 70% of our growth will come from emerging markets.”
