Cadbury intends to pursue growth in the Indian chocolate market, with plans to make the country a regional cocoa centre, as per media reports. “India, part of Cadbury’s Asia business unit, will become a regional centre for cocoa production,” a spokesperson for the company, was quoted as saying.
“India is a strong growth market. We have profit growth of 20 percent a year and sales growth of 30 percent a year. We want to build on this strength,” the spokesperson further said.
By making India a regional centre for cocoa production, Cadbury hopes to drive efficiency and sales gains in the market, the spokesperson added. The company hopes to source all of its beans for the Indian market domestically by 2015 in order to counter hefty import duties, the company confirmed.
— IndiaRetailing Bureau