Belgian co Puratos to invest Rs. 250 crore in India.

Belgium's Puratos, the second biggest bakery major globally, will spend Rs. 250 crore for expanding its business in India, a top official said recently.

The 95-year old company, which supplies ingredients to bakers, confectioners and retailers worldwide, has presence in 100 countries. It entered Indian market five years ago. Puratos has manufacturing facility and R&D unit in Mumbai.

'India is an important market for us and we are planning to expand our business. We will invest about Rs. 250 crore in three phases,' Puratos India, Country Head, Dhiren Kanwar told PTI after the launch of its new products at 'Aahar 2014'.

The business-to-business (B2B) company aims to set up another plant in Mumbai and one innovative centre each in Bangalore and Delhi, he said without elaborating further.

Stating that there is huge market in India, Kanwar said, 'We have a research and development centre here to develop products as per Indian taste. We are growing 4-5 times faster than the industry and we plan to launch more products.'

ET