Mars International India, the wholly owned subsidiary of US food giant Mars, has announced that it is to invest R$1,005 crore ($160 million) in a new facility in India.
The new plant in Pune will manufacture Snickers and Galaxy products which Mars is currently importing into India.
Commenting on the move, Mars Chocolate Asia Pacific Regional President Ehab Abou-Oaf said: “India is a high priority market for Mars. We are here because we have a long term view of business in India….We hope to capitalise on that through this manufacturing plant. We are excited to have invested in a highly potential market like India which is poised for further growth”.
MV Natarajan, Mars International India General Manager, added: “This initiative reiterates our continued commitment to India. Chocolate industry in India is growing at nearly 20 per cent every year and we see this as a huge opportunity to expand our chocolate portfolio in the country in the coming years”.
Source: Economic Times