TIL Desk/Business/New Delhi/ The Rs 99-billion Britannia Industries, best known as a bakery and dairy major, is getting future-ready as the packaged food market in the country evolves. Rivals such as ITC and Parle Products have taken steps in this direction, committing investments and resources as well as coming up with new launches in the segment.
Britannia, which is celebrating its centenary year in 2018, will first look at expanding its dairy and bakery businesses, before turning its attention towards new food categories. The attempt is to become a total foods company, as it eyes a well-rounded presence in the market.
“Our vision is to be a global, total foods company and in the past 12-14 months, we have taken affirmative steps in this direction. At the same time we are consolidating categories we are already in,” Varun Berry, managing director, Britannia Industries, said.
“The vision is borne out of the exponential growth of macro-snacking in India, as also from our plan to bring to India the best of international food repertoire. Sharper economic growth, greater consumer expectations, busier lifestyles and more in-between meal consumption occasions will inform and fuel our new product development into adjacent food categories, both bakery and non-bakery,” Berry said.
