Hershey to invest $50mn in India

US-based confectionery major Hershey Co today said it is likely to invest USD 50 million in the next five years to grow and expand its presence in India.
Hershey, which has been selling its products such as milk shakes, syrups and spreads and brands such as Jumpin, Nutrine and Smart Cook, in India since 2008 said the country is one of its key international focus markets.
"We anticipate an investment of about USD 50 million during the next five years as we focus on growing and expanding our presence in India," Hershey India Chairman and Managing Director Praveen Jakate said.

The announcement was made as part of the company's participation in the World Food India (WFI) event here in the capital, Hershey Co said in a statement.
Bullish on the market in the country, he said: "We're excited about the future of our great brands and products in India and have seen how consumers respond when we bring our delicious offerings to the Indian marketplace."
He further said, "Our investments over the next several years will help us to further build upon our positive momentum.
"India is one of our key International focus markets and we are investing to build this important business.