29 September 2008 - Nestle said it is planning to double its investment in India for 2009 to INR 6 billion (about USD 128 million) to capture extra shares in India – the company's leading market for growth.
Nestle Chairman Peter Brabeck-Letmathe said that the company had invested INR 3 billion (USD 64 million) so far this year. And, for next year, it has already approved doubling the investment.
Nestle's Indian operations account for 1.5% of the company's global revenues and grew 25% during H1 2008 to Rs. 2.126 crore (USD 452.8 million), Brabeck-Letmathe added.
Nestle’s CEO Paul Bulcke, meanwhile, said that a third of the company's global turnover comes from developing markets. He believes that over the next 10 years, developing markets could contribute to 40%-45% of the company's global revenue.
Nestle India recorded net sales of Rs. 3.504 crore (USD 746.4 million) in 2007.