China's Tiens Group said today that it is planning to set up a manufacturing plant in India to make healthcare, wellness and nutritional products to tap into the huge local market potential.
The company, which had recently invested USD 20 million in Vietnam to set-up a wholly owned manufacturing unit, did not share details about the proposed facility.
Tiens said however that its commitment to India over the next couple of years would be on a similar scale.
"We are planning to set up a manufacturing facility in India in next three years as India's potential as a market is very huge," Tiens Group's Chief Financial Officer Wendy Li told PTI.
She said Tiens plans to have a manufacturing base here as the country produces a large number of raw materials that would enhance the group's cost efficiency.
Economic environment is also very friendly here, Li added.
When asked about investment on the proposed plant, she said: "We recently invested over USD 20 million in Vietnam to set-up a fully owned manufacturing unit. Our commitment for India over next couple of years is similar."
India is extremely rich in natural herbal resources and the group is appreciative of that, she added.
"We wish to take the richness of Indian herbs to newer geographies and help global citizens consume them and derive benefits," Li said.
The company is in the testing phase, where it is developing products based on Indian herbs and distributing them to key APAC locations, she added.
At present, Tiens sources products in different segments such as healthcare and nutrition, cosmetics and skincare and household items like detergents through contract manufacturing at three facilities in India, Li said.
The Chinese group has 12 branches across India including Delhi, Mumbai, Hyderabad, Kolkata, Guwahati, Odisha, Jaipur, Chennai and Bangalore.
It also has 75 authorised dealer locations here which sell complete Indian product range across healthcare and personal care offerings. The company has around six lakh distributors in India for selling its products.
Disclaimer: No Business Standard Journalist was involved in creation of this content
