Nestle is to spend CHF50m (US$50.5m) on setting up an R&D centre in India to develop its “popularly positioned products” that are sold to poorer consumers.
The facility will be built in Manesar, close to Nestle’s head office in India, which is in Guragon, in the state of Haryana.
Nestle said today (22 September) that the site, which is expected to be up and running by 2012, will focus on “popularly positioned products” for the Indian market but also worldwide.
“The research at this centre will provide exciting opportunities for innovation. It will allow us to offer consumers in India and beyond the choice of tasty, healthy, and nutritious products,” said Nestle senior vice president Klaus Zimmermann.
Nestle generated sales of INR52.22bn (US$1.15bn) in India in 2009. The market is one of a clutch of developing economies where Nestle’s generates annual sales of CHF1bn. Its largest emerging market in terms of sales is Brazil, where it turns over CHF5bn.