Ferrero International, the European confectionary giant, has been asked by the Indian government to export approximately 50 per cent of its production in the country. Ferrero International is the maker of the famous Ferrero Rocher chocolates.
The government is of the view that this sort of restriction is necessary because the activities the company will undertake are reserved for small-scale industries. The company wants to sell and distribute its p roducts on cash & carry wholesale basis, and also repackage, manufacture their confectionery items and import the produce. The Foreign Investment Promotion Board (FIPB) has approved the company’s application for setting up a fully owned subsidiary.