Ferrero to set up unit in Pune
The Italian major announced plans to set up its unit at Indapur, near Pune. The Alba, Italy based company will invest Rs 130 crore in the first phase.
By TNN |
MUMBAI: Call it a chocolate topping. The Maharashtra government on Tuesday won over one of the world’s largest chocolate makers, Ferrero. Known for its premium Ferrero Rocher brand, the Italian major announced plans to set up its unit at Indapur, near Pune. The Alba, Italy based company will invest Rs 130 crore in the first phase.
“The company has plans to localise all its requirement. This opens up a major opportunity for ancillaries,” said VK Jairath, Maharashtra’s principal secretary, department of industry. “It’s a major brand any state would like to have,” he added. Mr Jairath inked the MoU in the presence of Pierre Govard, one of the company’s directors.
According to analysts, Ferrero’s entry will further strengthen India’s Rs 2,200-crore confectionery market, currently growing at 15%. Chocolates make up half nearly of the confectionery market, with candies and toffees making up about 40%.
The company has more than 19,000 employees across the globe and makes treats such as Kinder Sorpresa Eggs and Nutella chocolate/hazelnut spread. Its other products include Mon Cheri chocolates, pocket coffee espresso-filled chocolates and Tic Tac breath mints.
“The company has plans to localise all its requirement. This opens up a major opportunity for ancillaries,” said VK Jairath, Maharashtra’s principal secretary, department of industry. “It’s a major brand any state would like to have,” he added. Mr Jairath inked the MoU in the presence of Pierre Govard, one of the company’s directors.
According to analysts, Ferrero’s entry will further strengthen India’s Rs 2,200-crore confectionery market, currently growing at 15%. Chocolates make up half nearly of the confectionery market, with candies and toffees making up about 40%.
The company has more than 19,000 employees across the globe and makes treats such as Kinder Sorpresa Eggs and Nutella chocolate/hazelnut spread. Its other products include Mon Cheri chocolates, pocket coffee espresso-filled chocolates and Tic Tac breath mints.
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