German health and beauty company Beiersdorf is to open a new plant in Gurajat, India, the Economic Times reports.
The new plant will be 70,000 square meters in size, will cost around Rs 1,000 crore ($166 million) and is planned to be finished by next year.
“The Indian business has rapidly grown and we decided to set up the factory to get closer to the market and respond faster to market needs,” Rakshit Hargave, MD of Nivea India commented.
The plant is designed to reduce imports by around 50 per cent and make personal care products more affordable for consumers, as well as driving wider distribution in India.
“With our own R&D and manufacturing setup, we can now focus on local insights with greater flexibility, analyze local trends in skin and personal care, and develop products that suit the Indian skin needs,” Mr Hargrave added.
Source: The Economic Times