New Delhi: India is one of the fastest growing markets for Swiss global food and beverage giant Nestlé, with its local subsidiary achieving double digit growth.
According to Nestle India's latest annual report, the company, which owns popular brands like Maggi, Kit Kat and Nescafe, is leveraging existing competencies and capabilities and investing in new areas of opportunity to deliver long-term value.
Now, India has become the largest Nestlé market globally for Maggi and the second largest market for chocolate wafer brand Kit Kat.
The latest annual report states, “Penetration, premiumization and innovation, coupled with disciplined resource allocation, have been key in driving the business, making your company one of the fastest growing markets globally for Nestlé "
For Nestle India, the sales growth of innovation products in 2023 is more than six percent.In 2018 it was at 3 percent.
The annual report states that apart from the domestic market, Nestlé's export business has grown well.
It said all its key brands and product groups have posted consistent growth despite rising food inflation and volatile commodity prices, primarily in coffee and cocoa.
Nestle, which is setting up its tenth Indian factory in Odisha, reaffirmed the importance of India as a market.
Addressing shareholders, its Chairman and Managing Director Suresh Narayanan said, "Consolidating this further, your company aims to develop new capabilities and expand existing capabilities with a special focus on continued growth and innovation between 2020 and 2025." It is ready to invest approximately Rs 7,500 crore between Rs.
Nestle India recently announced it will continue paying royalty to its parent company at the existing rate of 4.5 per cent of net sales after shareholders rejected a proposal to increase it.The Board of the Company in its meeting approved the continuation of payment of normal license fee (royalty) at the existing rate of 4.5 per cent to Société des Produits Nestlé SA (Licensor) and recommended Nestlé India to the Members of the Company for their approval. . said in a statement.
In April, Nestle India's board had approved increasing royalty payments to its parent company by 0.15 per cent per year for the next five years, taking it to 5.25 per cent of net sales.
“The general license fee (royalty) rate paid by the company to the licensor is comparatively low compared to other multinational corporations (MNCs) in India,” Nestle India said in its annual report.
According to Nestle India's latest annual report, the company, which owns popular brands like Maggi, Kit Kat and Nescafe, is leveraging existing competencies and capabilities and investing in new areas of opportunity to deliver long-term value.
Now, India has become the largest Nestlé market globally for Maggi and the second largest market for chocolate wafer brand Kit Kat.
The latest annual report states, “Penetration, premiumization and innovation, coupled with disciplined resource allocation, have been key in driving the business, making your company one of the fastest growing markets globally for Nestlé "
For Nestle India, the sales growth of innovation products in 2023 is more than six percent.In 2018 it was at 3 percent.
The annual report states that apart from the domestic market, Nestlé's export business has grown well.
It said all its key brands and product groups have posted consistent growth despite rising food inflation and volatile commodity prices, primarily in coffee and cocoa.
Nestle, which is setting up its tenth Indian factory in Odisha, reaffirmed the importance of India as a market.
Addressing shareholders, its Chairman and Managing Director Suresh Narayanan said, "Consolidating this further, your company aims to develop new capabilities and expand existing capabilities with a special focus on continued growth and innovation between 2020 and 2025." It is ready to invest approximately Rs 7,500 crore between Rs.
Nestle India recently announced it will continue paying royalty to its parent company at the existing rate of 4.5 per cent of net sales after shareholders rejected a proposal to increase it.The Board of the Company in its meeting approved the continuation of payment of normal license fee (royalty) at the existing rate of 4.5 per cent to Société des Produits Nestlé SA (Licensor) and recommended Nestlé India to the Members of the Company for their approval. . said in a statement.
In April, Nestle India's board had approved increasing royalty payments to its parent company by 0.15 per cent per year for the next five years, taking it to 5.25 per cent of net sales.
“The general license fee (royalty) rate paid by the company to the licensor is comparatively low compared to other multinational corporations (MNCs) in India,” Nestle India said in its annual report.
