Nestle to invest Rs.228 crore in first Indian R&D centre

Sep 22, 2010 |

IANS

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Nestle

Multinational Nestle Wednesday said it will set up its first research and development facility in India investing around Rs.228 crore to indigenise products in the country.

The facility, which is the company's 30th in the world, will be built in Manesar, close to Nestle India's headquarters in Gurgaon, Haryana, and will be operational by 2012.

"We have decided to strengthen our research and development organisation in India. We are setting up a centre at Manesar at an investment of 50 million Swiss Francs (approximately Rs.228 crore)," Klaus Zimmermann, head of Nestle R&D Centres worldwide, told reporters here.

The Manesar R&D centre will focus on products, especially for India which meet specific needs of consumers with lower income levels by offering them high-quality, nutritionally enhanced products at affordable prices.

Nestle is focusing on emerging markets where the company expects sales to reach 45 percent by 2020.

Nestle has had a presence in India since 1912 and currently operates seven factories located across the country. Its sales in 2009 stood at Rs.5,222.4 crore.

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