The booming economies of the GCC ( Gulf Co-operation Council ) countries which includes Saudi Arabia , Kuwait , Bahrain , Qatar , UAE ,Oman with major south Asian expats from India , Pakistan , Srilanka , Bangladesh and Nepal making majority of the population Indian food companies have a ready market to exploit . Already we had presence of Food majors like Britannia , Parle , Haldiram and Dabur in these regions .ITC has plans to enter GCC through its partners in UAE .
A report
Dubai: ITC, a multi business conglomerate, is planning to enter the food market of the UAE and the Gulf Cooperation Council (GCC) through a partnership with the Al Seer Group, a news report has said.
“We are currently not marketing any of our food products in the UAE but we plan to enter the market in a big way. There is an alliance with the Al Seer Group to distribute our confectionery products in the market,” a company source was quoted as saying by Emirates Business, a local newspaper.
The products ITC plans to market in the UAE and GCC include wheat biscuits under brand its Sunfeast, cream and tea biscuits cookies, crackers, candies, eclairs and chews etc.
The company forayed into the biscuits segment in India in 2003 with its brand Sunfeast and has managed to capture nearly 10% of the market.
ITC, with a turnover exceeding $5 billion and market capitalisation of $19 billion, is participating for the first time in the Gulfood exhibition. The firm displayed a number of its confectionery products in Dubai World Trade Centre.
ITC has a strong foods division supplying packaged foods, snacks, confectionery and biscuits.
The group has diversified its presence, from tobacco manufacturing, into packaged foods, consumer goods, hotels, information technology, branded apparel and agri business.
Report Source : http://www.livemint.com/
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