New Zealand-based cooperative dairy giant Fonterra is keen to work with Indian local industry in a bid to establish its presence in the region and to meet the strong consumer demand for quality diary.
«We think our exports from countries such as New Zealand and Australia can, at best, only play a small role in helping meet the demand of growing economies such as India and China,» Fonterra President (Greater China & India) Kelvin Wickham said.
«However we also see opportunities where we can potentially work with the local industry to keep meeting the strong consumer needs for quality dairy in the future,» he added.
«Fonterra is only in the very early stages of our operations in India. However, we see that the Indian dairy market has some unique opportunities in the future,» he said. «The country has over 1.2 billion consumers who are becoming wealthier and, unlike other large countries like China, dairy is a traditional part of the Indian diet. So the opportunity for strong growth is present in this market,» he said.
«The Indian industry will be shaped by changing market conditions and a strong co-operative heritage, providing for an exciting future,» he said. Last year, Fonterra announced its first operating office in New Delhi as to advance its relation with India.
Commenting on the move, Wickham had said: «The first New Zealand dairy products arrived in India in 1885. We have been supplying dairy ingredients to Indian customers for generations and have strong relationships across the country. «Establishing a presence on the ground will allow us to explore further opportunities in the world’s fastest growing dairy market.
Source: Indian Express