Close on the heels of PM Modi’s go local appeal, Goel Group, India’s leading integrated steel venture with a strong presence in Central India, has announced its venture into the Indian frozen foods market. The Group’s vision for the diversification into the frozen foods industry is to provide consumers with the highest quality and variety of 100% vegetarian bites.
To kick start their journey in this new category, the company recently inaugurated a state-of-the-art manufacturing plant in Raipur, Chhattisgarh making it the first food processing plant in the state.
Commenting on its new venture, Archit Goel, Director and Chief Financial Officer, Shri Bajrang Alliance Ltd – the new company set up by the Goel Group for its frozen food venture – said: “We are delighted to announce our foray into the frozen foods category as it heralds a new phase of development for the Goel Group. In the COVID and post-COVID environment, consumers will demand safety, transparency, and accessibility from local brands, products, and retailers. With the change in consumer buying patterns, we want to highlight that frozen food is safe and healthy for one to consume as it has a longer shelf life and also maintains the nutritive values and freshness of the foods. We are dedicated to fulfilling the demand for better quality and innovative frozen food options that consumers can trust without compromising on taste.”
The Indian frozen foods market was valued at around Rs 74 billion in 2018 and is further projected to reach a value Rs 188 billion by 2024, expanding at a CAGR of around 17 percent during 2019-2024. Driven by excellence and quality, the Goel Group has invested in R&D to provide a range of frozen foods with a superior level of flavour and taste. The offerings will be made in 100 percent vegetarian kitchens and will deliver unparalleled quality products to consumers. The range of products will be completely free from preservatives, colours and artificial flavours containing zero trans-fat.
As a company that stands for quality and innovation, the Goel Group has invested heavily in implementing the latest and best-in-class technologies at its facility to deliver nutritious, safe and world-class quality food while setting new benchmarks in the industry. With an initial capital investment of Rs 30 crore and an operative capacity of 6000MT, the plant is equipped with highly advanced processing techniques and equipment. These include automated machines from world leaders in UK, Germany, Sweden & Japan along with world-class Blast & IQF/Spiral freezers.
In the initial year of operations, the plant will not only create more than 300-500 employment opportunities, but also source about 60 to 70 percent of raw materials required for the project from the state itself. The company is also taking utmost care of the involved processes to ensure highest levels of food safety as per the Food Hygiene and Safety Guidelines issued by FSSAI. To comply with industry best practices of safety and hygiene, the plant has also implemented Good Hygiene Practices (GHP) and Good Manufacturing Practices (GMP). They also practice screening and monitoring of all employees and food handlers along with maintaining social distancing within the establishment to avoid any contamination.