Jollies will be introduced in the fruit chew segment priced at Re 1. The segment is estimated to be around Rs 400 crore and is growing at a rapid pace, he added.
EIIL said that the fast growing fruit chew segment will double in the next 3-4 years and expects to become a significant player in the segment by making the "under-penetrated" category available across urban and rural India through its deep distribution network.
The company is working on an asset-light model involving outsourcing, and believes it can add significant turnover and profitability with an entry into the segment.
The company has forayed into lighting and small appliances besides hiving off its packet tea business to a joint Special Purpose Vehicle with McLeod Russel.
Claiming that distribution is one of its key strengths, the company says confectionery would provide an opportunity to not only complement the current basket of products but also give an opportunity to offer value-added products to the companys vast up-country distribution.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)