Nestle India, the Indian subsidiary of the Swiss food and beverage giant Nestle, announced on July 27, 2023 that it will invest Rs 4,200 crore by 2025 to set up its 10th factory in Odisha.
The new factory will be located in the Jajpur district of Odisha and will be used to manufacture Maggi noodles, KitKat chocolate, and Nescafe coffee. The factory is expected to create 1,000 jobs.
The investment is part of Nestle India's plans to expand its manufacturing capacity in India. The company currently has nine factories in India, located in Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and West Bengal.
Nestle India is the largest food and beverage company in India, with a market share of over 60%. The company's products are available in over 6 million outlets in India.
The investment in Odisha is a sign of Nestle India's commitment to the Indian market. The company has been operating in India for over 70 years and has a strong brand presence in the country.
The new factory in Odisha is expected to help Nestle India to meet the growing demand for its products in India. The company is also planning to export products from the new factory to other countries in the region.
The investment in Odisha is a welcome development for the state's economy. The factory is expected to create jobs and boost economic activity in the region.
Here are some of the benefits of Nestle's investment in Odisha:
- Increased employment: The factory is expected to create 1,000 jobs, which will help to boost the local economy.
- Increased investment: The investment will attract other companies to invest in Odisha, which will further boost the economy.
- Increased exports: The factory will export products to other countries in the region, which will help to boost India's exports.
Overall, Nestle's investment in Odisha is a positive development for the state's economy and for India as a whole. The factory is expected to create jobs, boost economic activity, and help to increase India's exports.
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