Mars Inc., the world’s biggest chocolate company, will invest over $160 million to set up its manufacturing plant in Pune, in the state of Maharashtra. Mars International India, its wholly-owned India arm, signed a memorandum of understanding with the Maharashtra government on Wednesday to this effect. This will be one of the largest investments by the maker of Mars, Snickers, Twix and Bounty chocolates outside the U.S.
Mars Chocolate Asia Pacific Regional President Ehab Abou-Oaf said, “India is a high priority market for Mars. We are here because we have a long term view of business in India….We hope to capitalize on that through this manufacturing plant. We are excited to have invested in a highly potential market like India which is poised for further growth.
Emerging markets help companies to sharpen their business skills amidst volatility. As GDP grows, chocolate consumption becomes a lot more accessible. And that children eat chocolate more than adults is more perception than reality.”
