As the expanding middle class in Asia’s third-biggest economy increases spending on food and drinks, Nestle SA, the world’s largest food company, will invest 5,000 crore to establish factories and research centres in India until 2025, according to chief executive Mark Schneider.
Schneider, who was on a week-long visit to India, one of the top 10 markets for the Swiss company, said the increased investments will also be used to develop brands.
Nestle is increasing its focus on India, the country with the strongest economic growth worldwide, as it struggles with weak demand in Western markets plagued by decades-high inflation. Food businesses are more immune to price shocks, but persistently high inflation may compel customers to switch to less expensive goods.
