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Fonterra, Future Group announce JV for Indian mkt

Press Trust of India  |  New Delhi 

World's largest exporter today announced a joint venture with to produce a range of consumer and service products.

The JV, Future Partners, would enable New Zealand-based to establish its presence in

"It (partnership) will allow us to prepare the groundwork and make the most of our expertise as we enter the world's largest and fastest growing dairy industry," and Foodservice said in a statement.

Consumer demand for dairy in over the next seven years is set to increase by 82 billion litres seven times the forecasted growth for China, he added.

"The partnership will be driven by growth through profitability. The initial stages of the partnership will focus on product development, and marketing with the right capital investment made during this period," Paravicini said.

The first in will be launched by the middle of 2019, using both locally sourced milk and from New Zealand, he added.

"We will also use this time to settle in the partnership infrastructure, learn the market and prioritise geographies," he added.

said the association with Fonterra comes at a time when the dairy industry in India is flourishing.

"With Fonterra, Future Consumer will enhance its and FMCG portfolio and will offer a variety of which are high in demand and consumed daily," he added.

said that through this partnership, the company would be able to reach its customers daily with quality

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 17:10 IST