With 6 billion servings, India is the world's largest market for Maggi noodles

Having introduced over 140 products in India over the last eight years, the company plans to invest ₹7,500 crore between 2020 and 2025.

Published on: Jun 18, 2024, 21:09:10 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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India is the largest market for Nestle’s Maggi, with six billion servings in the financial year 2023-24, according to Nestle’s annual report, Business Standard wrote.

Packets of Maggi noodles (Abhinav Saha/HT)

Nestle India reported sales of ₹24,275 crore for 15 months ending on March 31, 2024, according to the article.

India is also one of the fastest growing markets worldwide for the company with a high double digit growth rate, according to the article.

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It said that its prepared dishes and cooking aids business recorded a strong growth in India due to a number of factors including a balance of product mix, pricing and volume growth in Maggi noodles and Maggi Masala-ae-Magic,

Having introduced over 140 products in India over the last eight years, the company plans to invest ₹7,500 crore between 2020 and 2025, the article read.

Maggi however, has been subject to controversy in India. In June 2015, the noodles faced a five month ban over allegations that they contained lead way beyond permissible amounts.

This devastated Maggi's 80% share of the Indian noodles market, plummeting to zero within a month. Nearly a decade later, it still struggles to reclaim lost ground due to increased competition from new players, the article read.

Nestle India also noted that it sold 4.2 billion fingers of the popular chocolate KitKat, making India its second-largest market.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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