FMCG major Nestle India has lined up nearly two-three dozen products that it plans to open in the calendar year 2019 across category to drive its antagonistic growth plans in the country, Chairman and Managing Director Suresh Narayanan said Monday. Six percent revenues of the company come from exports, and now they are looking to tap more overseas markets by target countries with higher Indian diaspora such as SAARC and South East Asia.
"In 2018, our core brands have performed well…We look forward to greater speeding up as we go forward…We have two-three dozen projects (products) in the pipeline for launch in 2019. These products are across categories," Narayanan told reporters. Reiterating the company's focus on the Indian market, he said, "As an organization, the one clarion call that we are working to is that we are in the business of growth to thrive and not to survive…It is not an endurance mode that we look at the occasion in India or the occasion for growth…but a prosperous mode."
While the domestic market has been pouring its growth, Narayanan said Nestle India would now look at increasing its export basket. The company is looking at patter overseas market with higher Indian diaspora such as SAARC and South East Asia to get bigger its exports, he added.
Commenting on fake news on nutrition, Narayanan said it was touching choices and lives of people. Therefore, Nestle India in partnership with Google, using a Chabot mechanism, will launch a personalized information distribution website called "Ask Nestle", he added.
"Ask Nestle seeks to be a trustworthy and anchor platform for nutrition and lifestyle in succession for customers. India is the only market where this website is launching," he added.
When asked if the company will in future also link Ask Nestle with its own e-commerce website for selling its products, he said it is a likelihood. "…Going forward it could morph into amazing bigger in terms of linking up with our own e-commerce intention if at all it happens. But today it is only for information sharing, distribution and help," he said.
When asked if there has been any crash on sales of Maggi Noodles after Supreme Court invigorated government's case in the National Consumer Disputes Redressal Commission (NCDRC) against Nestle India seeking damages of Rs 640 crore for supposed unfair trade practices, false labeling, and ambiguous advertisement, Narayanan said "No".
When asked if the company is looking for developed capability growth, he said: "…This is a question that is coming up with active discussion. That exercise is on but I cannot share more at this stage".
Typically, our approach is to supplement (capacity) at our existing factories, but it does not rule out a new manufacturing facility, Narayanan said.
Nestle India, at present, has eight factories across the country. The company also did not rule out evaluate lifeless growth in the country and said it may believe it if any occasion arises.
