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Thursday, April 9, 2009

Nestle to spend about Rs: 600 crore in India

Nestle is one brand of chocolates which people of my age and even elder than me have grown up munching. On basis of last year’s strong growth in revenue from India, Nestle will be investing about Rs: 600 crore in year 2009, which is almost double than that of last year.

"We will be doubling our investments in India next year. There is no envelope to the number as long as it is strategically and economically sound investment"said Peter Brabeck-Letmathe, chairman of Nestlé SA.

The inflation has also struck companies and the pressure of increased raw materials problem worries even Nestle. But the company officials said the solution for this will be planned soon and only consumers won’t pay for that entirely. Currently, Nestle India accounts for 1.5% of total turnover of the company - pretty low according to me considering the number of young people and especially choco-crazy girls in India. Nestle India has already registered 25% growth in the first half of this year.

As a part of its special marketing initiative to serve the needs of the price-sensitive consumers in India, Nestle has dedicated its Uttarakhand plant for designing, formulating and packaging products under Rs 10 price point. Identifying the huge growth potential in developing markets, Paul Bulcke, CEO of Nestlé SA, said that the developing markets currently accounting for one-third of its business would grow significantly. The company also sees the recent Chinese milk scare as an opportunity to provide safer options for consumers rather than a threat to its sales.

The company will continue to grow from being an agri-based to a nutrition, health and wellness company with a focus on regional products.




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