Nestle has today (24 November) announced plans to accelerate its investments in India with the construction of new facilities.
The firm said the investment will “re-emphasise its confidence in the country’s growth potential”. Nestle has spent over CHF15m (US$15.1m) in India over the last three years.
The Swiss food giant’s current plans foresee a further investment acceleration in “2011 and beyond”, it added.
Besides the expansion of its existing sites in Moga, Samalkha, Nanjangud, Ponda and Bicholim, Nestlé said its India division will construct new “multi-category” production facilities.
Frits van Dijk, executive vice president and zone director for Asia, Oceania, Africa and the Middle East, said: “We are very optimistic about India’s growth opportunities over the coming years. India has a large, progressive population and the economic environment is very conducive for growth.
“Therefore, it makes perfect sense for Nestle to step up its investments in the country to provide Indian consumers with a broad product portfolio, ranging from popularly positioned products for lower-income consumers to premium offerings. India is a major success story in the making and the Nestlé Group intends to fully participate in it,” added.
The announcement follows the groundbreaking of Nestle’s CHF50m R&D centre in India in September which will become operational in 2012.
In 2009, Nestle’s business in India experienced organic growth of 18.6%, with sales of around CHF1.2bn.