Bombay Stock Exchange (BSE) listed Modi Naturals, an edible oil manufacturer and distributor, has announced its foray into the FMCG space.
The company marked the entry into the FMCG sector by launching a mustard oil brand 'Tarai Shudh' and it plans to have a retailer network of 7,000 in Uttar Pradesh in the first phase.
In the second phase, the company will focus on other markets in north India and north eastern states.
“We will increase our FMCG product portfolio on the basis of the market survey report, that we have commissioned,” Modi Naturals CMD Anil Modi said at a conference call. He said the FMCG was the fourth largest growing sector, estimated to grow to Rs 1,40,000 crore by 2015.