Swiss multinational Nestle SA plans to invest ₹5,000 crores ($650 million) by 2025 to develop its India enterprise faster. The investment stems from what Mark Schneider, CEO, Nestle SA, describes as heralding of an “Indian age” in its enterprise.
“We’re not only talking about an Indian decade here … but about the Indian age as we see the development take off, driven by digital acceleration,” Schneider noted.
The move will help the company to accelerate its core business in the country and leverage new opportunities for growth. The funds will be used for capital expenditure, setting up new plants, acquisitions, and expansion of the product portfolio of the company.
India is among the top 10 markets for the Swiss packaged food major globally. Schneider pointed out that the investments will not just be on ramping up manufacturing, but also in expanding R&D capabilities, brand building and making “meaningful contributions” on the ground. “From our side, it’s an open checkbook and complete willingness to support the India business at every step of the way,” he emphasized.
Suresh Narayanan, chairman and managing director, Nestle India, added that the company currently operates nine manufacturing plants in the country, employing about 6,000-7,000 people. It is looking at new locations to set up manufacturing capacity.
