New Delhi: Chief Executive Officer Mark Schneider of Nestle SA announced on Friday that global food and beverage corporation plans to invest Rs 5,000 crore in India over the next three and a half years.
“On top of that, if we see opportunities for merger and acquisition, we will be happy to explore those,” he said.
The investment will go toward building new plants, increasing the company’s product line, and other capital expenditures.
In India, Nestle has nine plants and is seeking for additional areas to establish more production facilities. Subject to clearances and permissions, the investment will contribute to job growth.
In a media round table, Schneider revealed the investment intentions for the Indian market, one of Nestle’s top 10. He said: “The plan contrasts with the Rs 8,000 crore over the past 60 years when we started manufacturing in this country.”
Over 110 years have passed since Nestle first arrived in India.
According to Schneider, this investment is also for brand building and development activities.
The business announced a Rs 2,600 crore investment in 2020 to expand its capabilities and for its manufacturing in Sanand, Gujarat.
With Purina Petcare, the creator of KitKat just joined the nation’s pet food market.
Suresh Narayanan, chairman and managing director of Nestlé India, stated that the company’s core business would be accelerated as a priority.
“(The plan) has three pivots, one of which is continuing the strong momentum of growth the company has had in the last 22 quarters,” Narayanan said.
The second part is to do it in a sustainable manner, and Nestle has taken “significant steps” in that direction, he said.
“And the third part is to leverage new opportunities for growth, whether they are plant-based proteins, healthy ageing, healthy snacking, and leveraging some of the Indian grains into products for the company.”
