Fonterra has India in its sights

NEW ZEALAND/INDIA – New Zealand Milk, the consumer product division of Fonterra Co-operative Group, is making in-roads in the Indian dairy market through a joint venture with Britannia Industries.

Based in Bangalore, Britannia is primarily a bakery business but has recently expanded into the dairy sector processing liquid milk, cheese, butter, dairy whiteners and ghee. It has an annual turnover of 276 million euro and a strong national distribution network.

Fonterra chief executive officer Craig Norgate said that the alliance would provide, “a strategic point of entry into a market with huge potential”. He added: “India’s total dairy market, at 23 billion, is one of the world’s biggest. Steady growth and liberalisation of India’s economy has opened up attractive opportunities for investment in the country’s dairy industry.”