The company will tap into the growing popularity of Korean products in India. Korean beauty brands, as well as packaged foods from the region, have been finding their way into retail shelves in the country
New Delhi: South Korean packaged foods company Orion that makes the Choco-Pie snack on Tuesday announced an investment of Rs200 crore in the Indian market that includes manufacturing its products at its Rajasthan unit.
The presence of a local manufacturing unit makes India Orion's 10th overseas production base. The company has manufacturing units in Korea, Vietnam, Russia, and other locations.
The company will tap into the growing popularity of Korean products in India. Korean beauty brands, as well as packaged foods from the region, have been finding their way into retail shelves in the country. Korean music as well as drama series too have found a favourable audience here.
“The new factory will support Orion’s expansion plans and will cater to taste preferences of Indian consumers. Given the rising popularity of Korean products in India, Orion is optimistic about its India plans and is actively growing its teams within the organization and as its point of sale," the company said in a statement.
The manufacturing plant will facilitate local production of the popular Choco-Pie, a cookie-cake offering from the company. More ‘made in India’ products will be introduced in the future apart from global offerings. Globally, Orion sells cookies, crackers, pies, snacks, and chocolates.
The company has hired 250 employees with plans to add another 1,000 in the next two years. The company could pump in more money into the Indian market, it said.
India’s confectionery market is estimated at $15 billion. “There is a huge scope for a player like us," said Saurabh Saith, CEO, Orion India.
"The India manufacturing facility is a step toward our expansion drive which will not only allow us to build a strong supply chain for the domestic market but will also help us tailor our products as per Indian consumers’ preferences," Saith said.