Swiss food and beverages giant Nestle today unveiled an Rs 2,600 crore investment plan for the Indian market. The firm that already has eight manufacturing plants across the country, plans to invest the majority of the amount in enhancing its production capabilities over the next four years.
“We are proud of our 108-year long association with the nation and nearly six-decade long manufacturing journey. As a vindication of the confidence and trust in the Nestlé journey in India, I am pleased to share that we plan to invest Rs 2,600 crore over the next three to four years to augment our existing manufacturing capacities, as well as towards our new under construction ‘state of the art’ factory in Sanand, Gujarat”, said Suresh Narayanan, chairman and managing director of Nestle India.
Apart from investing in its plants, the firm has set aside some portions to boost its operational efficiency.
The announcement is in line with its long-term plan for the local market, under which its plans to focus on consolidating its business activities by adding capacity and strengthening the market position of its newly launched products.
Last year, it had announced a green field project for ramping up production capacity of its two of the most popular products - Maggi noodles and Kitkat. Both the brands are market leaders in their respective categories with over 60 per cent market share.