12 Oct 2017

Nestlé India mending fences

In the private sector, Nestle India has been mending fences with the FSSAI: the company will set up a food standards safety institute in Manesar. The company is consolidating product lines and focusing on supporting home cooking. ITC is exploring ways of penetrating the health and wellness sector. The company looking to generate $10bn in revenues from the package foods sector by 2030. In the hospitality field, the company is also planning 40 new hotels with 5,000 rooms in India.GDP growth will be depressed for another couple of quarters as the economy recovers from demonetization and get to grips with the adoption of GST. Against that background, market momentum may be subdued.

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