Nestle India is betting big on “rurban” expansion, innovation and premiumisation strategies and considers them among the key growth engines for accelerating its business. In its annual report for 2022, the packaged food major said it has been sharpening its geographic focus and increasing distribution points to sustain its rurban-focused strategy.
In a letter to shareholders, Suresh Naryanan, Chairman and Managing Director, Nestlé India, said: “India is among the fastest growing markets for Nestle” backed by innovation and a diversified portfolio of strong brands. He added that Nestle India delivered the “highest double-digit growth” in a decade led by “sustained volume and mix-led growth” which led to a strong value growth in 2022. The company follows January-December period as fiscal year.
“As we look confidently at the year ahead, the storm clouds of food inflation, acceleration of war and indeed the drum beats of recession in parts of the world continue to surround us. The company’s steadfast focus on building volumes, deepening “Rurban” expansion, bringing innovations with the support of Nestle Group’s Global Research & Development network, astutely managing “value” and simultaneously nudging the premiumisation trend that is driving economic recovery in parts will fuel momentum,” Naryanan said.