Nepal's CG Foods, makers of the popular Wai Wai noodles, is targetting the brand to touch Rs 10,000 crore turnover in a decade in India that could require an investment of Rs 5,000 crore to add manufacturing capacity.
"Wai Wai has a turnover of Rs 600 crore in India now. Our aim is to take it to Rs 10,000 crore in the next 10 years," CG Group Chairman Binod Chaudhary told PTI.
The company, a part of the Chaudhary Group, at present has six manufacturing units in India. It plans to expand its production footprint with a unit each in Madhya Pradesh and Assam.
Commenting on the Indian market, he said: "The per capita consumption of noodles in India is very low, but in due course of time, it is bound to grow."
In order to prepare for the future, Chaudhary said the company is adding new production units.
"We will have a new unit operational in Madhya Pradesh in the first quarter of 2016. This will serve Western India market," he said, adding a new unit was also being set up in Assam.
"The North East Indian market is one of our biggest markets. We have manufacturing presence in Guwahati and Silchar in Assam, besides one in Sikkim," he said.
The company's other plants are in Rudrapur in Uttarakhand, Purnia in Bihar and Chittoor in Andhra Pradesh and its total employment in India is over 2,500 people.
It is also setting up a food park in Rajasthan.
When asked about the investment, he did not share an exact amount, but said, "For Rs 600 crore turnover we needed Rs 300 crore of investment, so for Rs 10,000 we may need around Rs 5,000 crore."
He said with the proposed manufacturing locations, the company, traditionally strong in East and North East, would be more or less prepared to have a pan-India presence.
