Emami to explore new overseas manufacturing units to meet demand
- Market Live: Sensex rises over 100 points, Nifty above 10,350, Future Group stocks gain
- Tesla blows through $8,000 every minute amid Model 3 woes
- Rupee opens higher against US dollar
- Moody’s upgrade boosts already growing confidence in Indian debt
- Uber concealed hack that exposed 57 million people’s data
Kolkata: Emami Limited is exploring options to set up new manufacturing units in international markets to meet growing demand.
The company, which now has a single manufacturing unit in Bangladesh, is also stepping into the African markets of Nigeria and Ghana by launching products, it said in its annual report.
Director of Emami Prashant Goenka said “Emami will strengthen its position in the existing markets and also simplify logistics in Russia, where the demand is expected to rebound. Emami is evaluating manufacturing options in other international markets”, he said.
The company said that it expected to consolidate its position in the Gulf Cooperation Council (GCC) countries as it had offices in the UAE. Regarding the outlook of the fast-moving consumer goods (FMCG) sector in the country, the company said that consumer demand was expected to increase and the overall market was likely to grow at 14.7% compound annual growth rate (CAGR).
The rural FMCG market was expected to grow at 17.7 CAGR, it said. With the implementation of goods and services tax (GST), the company was ready to take full benefit of the emerging opportunity, the report said.