With the names like Sadashiv Nayak, president, Big Bazaar & Food Bazaar, K Radhakrishnan, CEO, Reliance Hypermarkets, Sumit Saran, director, SCS group, Ajaay Gupta, MD, Capital Foods, AD Singh, Director, Olive Bar & Kitchen, the first day of India’s largest food congregation Food Forum India 2009 discussed scope for premium food in the country along with the entry of foreign brands in India, future of restaurants business and scaling up small ventures in the food industry.
The industry leaders gave an optimistic overview of the food business in India. Elaborating consuming habits of Indians, K Radhakrishnan, CEO, Reliance Hypermarket observed, “India is a country of varied tastes and preferences. Hence, for any food brand to survive in a diverse market like ours, it’s imperative that it customizes its products to suite Indian eating habits.” He further added, “The value addition in the brands should not be in terms of price but in terms of quality.”
Believing in the potential of Indian market, Sumit Saran, director, SCS Group said, “India is a very rewarding market where perseverance pays. It’s a good time to invest in processed foods segment as the opportunities have grown manifolds.”
During the discussion on scope for premium foods in India, Sunil Sankalecha, CEO, Nuts & Spice commented, “Product positioning is very important for marketing premium brand in India. Premium products require specialised retail chains or niche stores and it’s important to bring out the exclusivity of the product.”
Giving an international perspective, Thomas Capune, Managing Partner, CSP Capune, Schaeben & Partner, Germany said, “India is a very complex market. There is a need to simplify the legal procedures for foreign brands to enter.”
The first day of the Food Forum India 2009 ended with the glittering Coca-Cola Golden Spoon Awards 2009 – for excellence in food retailing followed by celebrations and gala dinner.
— IndiaRetailing Bureau, Mumbai