Nestle is going to increase its focus on India in the coming times and the company has said that it will invest Rs 5000 crore in India by the year 2025. Mark Schneider, Global CEO of daily-use goods company Nestle said this. At the same time, he said that there are concerns about inflation across the world and it has affected the demand to some extent but the Indian markets are in a much better position on this front. He said, “India has been less affected by inflation than many other big markets due to the strong base of economic growth we are seeing. While in the case of recovery from Corona, the CEO said that India has performed miraculously on this front. has done.”
Strong demand in India
“I think India is in a very advantageous position in this sense, although there are certainly concerns about inflation but the demand from the fast growing middle class and people reaching higher income levels is very strong,” he said. Because of this, concerns about inflation are brought under control, Schneider said. Nestle CEO on Friday announced plans to invest Rs 5,000 crore in India by 2025. He said that the recovery in the Indian economy after the COVID-19 pandemic is impressive and this would not have been possible without the significant progress in vaccination in the country. “I think India has done wonders on this front,” Schneider said.
Supply Challenge in the Food and Beverage Sector
He said the pandemic and the Russia-Ukraine war pose challenges to inflation and global supply chains, especially in the food and beverage sector. He added that global markets are now focusing more on local supply chains and fortunately 99 per cent of what Nestle sells in India is locally produced. Suresh Narayanan, Chairman and Managing Director, Nestle India said, “We are expanding into the vitamin, mineral and dietary supplements segment. However, Nestle’s journey in the health segment of the Indian market has just begun and is a huge opportunity. ” (India Posts)