The Indian subsidiary of US cereal giant Kellogg has gained approval from the Foreign Investment Promotion Board (FIPB) to launch four new products on the Indian food markets. The new products are Cheez-It crackers, Keebler, cookies and Special K cereal.
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The company has also been given the go-ahead to pay a royalty to its parent company for an unlimited period. The stated justification for the royalty is that the parent company has been supplying technical expertise in the form of secret recipes, processes and manufacturing technology. The royalties involved are 8% on exports and 5% on domestic sales.
