India’s Britannia Industries Limited has received permission to produce its biscuits and bakery products in Nepal.
The renowned food company with a history of 123 years has been permitted to invest Rs 1.11 billion to establish a biscuit and bakery plant in Simara, Bara district, according to the Department of Industry.
Britannia Nepal Pvt Ltd was registered at DoI on May 26 as a 100 percent foreign direct investment entity. DoI officials think this is probably the largest investment commitment made in Nepal in recent years in the manufacture of consumer goods.
Britannia biscuit brands like Good Day, Bourbon, Digestive, 50-50 and Tiger are popular in the Nepali market.
Khagendra Basnet, chief of Foreign Investment Section at DoI, informed that this investment commitment in the manufacturing sector is the largest in recent years except for the investment made in cement factories . “This investment in the production of consumer goods is probably the largest in the recent years,” he added.
According to the proposal submitted to DoI, Britannia will produce 14,000 tons of biscuits and bakery items every year and employs around 345 people.
According to Reuters, products of the Indian company are exported across the world, including the Gulf Cooperation Council Countries (GCC)and countries in African and the Americas.
According to Britannia’s website Britannia is a leading food company in India with over Rs 85 billion in revenue, delivering products in over 5 categories through 4.2 million retail outlets to more than half the Indian population. The company started its production from Kolkata 123 years ago.