Precious Pearls of the Ocean

IIPM BEST B-SCHOOL
Food is another sector with humongous potential, considering only 2% of agri-food is processed in India. Estimated to reach Rs.1.35 trillion by 2015, the food arena is brimming with promise. Riding on the crest of the wave is ITC, whose brands Aashirvaad Atta & Sunfeast have shown phenomenal growth. Referring to ITC’s Sunfeast, a HSBC report brings forth, that “ITC has been able to create a brand with annual revenues of Rs.7 billion.” Truly, it’s no mean achievement.

HLL’s debacle in the foods segment is known to everyone. Rumours have been rife that the company wants to sell off its famed Annapurna brand and exit the foods business, gradually. Sanjiv Kakkar, Executive Director, Foods Business, HLL clarifies, “We believe that the foods business presents our company with an exciting, long-term and sustainable business growth opportunity.” He added, “Annapurna is a large and integral part of HLL’s foods portfolio and we are committed to accelerate the growth momentum of the brand.” Mahindra & Mahindra, Reliance, Bharti and Godrej are all drawing huge plans in food business. According to a CII & AC Nielsen ORG-MARG report, changes in tastes and lifestyles are leading to increased demand for packaged foods. Surely, palate is going to be the next pasture for India Inc.

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Source : IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

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