FMCG major Britannia plans to invest Rs 700 crore in India, expects rural demand to grow at a higher pace
Over the next two-and-half years, biscuit-maker Britannia Industries has planned a capital expenditure of nearly Rs 700 crore for building the infrastructure and its manufacturing facilities in India. The FMCG major is also bullish on the rural demand during the COVID-19 pandemic.
The rural demand remained stable during the Coronavirus outbreak and the company will focus more on its core products, its MD Varun Berry said.
It is worth mentioning here that Britannia has emerged as one of the key beneficiaries during the nationwide lockdown as the maker of Good Day and Tiger biscuits witnessed a spike in packaged foods consumption as Indians spent more time at home.