Rcpl sign sleeve with maharashtra govt to invest £ 1.513 crore in food and beverage facility

Mumbai: Reliance Consumer Products Ltd (RCPL), the packaged consumer goods of Reliance Industries Ltd, signed a memorandum of understanding with the Maharashtra government on Thursday to invest £ 1.513 in Catol, Nagpur, to set up a manufacturing facility for liquor and food products. The Nagpur project will generate work for 500 people and improve Maharashtra’s food processing and consumer goods industry. Maharashtra’s main minister’s office (CMO) made the announcement on the social media platform X on Thursday night. The state government on Thursday announced the signing of other Mou’s a total of £ 1.08 trillion to attract larger investments in the state in sectors such as real estate, technology, data centers and manufacturing of packaged goods. CM Devendra Fadnavis served the signing and exchange, which was seen by the RCPL delegates. The move comes because RCPL plans to invest a lot in the Indian market, where it currently sells drinks, floor cleaners and snacks. It follows an announcement last month of his parent company, Ril, that he is aimed at reaching consumer products within the next five years of 1 billion income in his packaged goods. The company plans to invest £ 40,000 crore over the next three years in building manufacturing capabilities for packaged food and large-scale infrastructure, including Asia’s largest integrated food parks with AI-driven automation, robotics and sustainable technologies, per announcements made at the 48th annual annual general meeting (AGM), late August. RCPL EYES FMCG Leadership “Our ambition in the short term is clear: to be the fastest growing consumer brands to reach a £ 1 trillion income within five years. Our long-term ambition is to become India’s largest FMCG business with a global presence. Retail business in both size and profitable, “Is it an actual director of a retail business,” Is it a profitability, “Is it an actual director of a retail business,” Is it a profitability, “Is it a profitability,” it is a retail business in both size and is a profitability, ” Profitability, is a profitable m .. Reliance Retail Ventures Ltd, said on the company’s AGM. In a recent interview with Mint, RCPL director T. Krishnakumar said the company, which entered the packaged consumer goods market in 2022, plans to set up food parks across the country. ‘We want a food park in every condition. In addition, we will still have a hybrid model. We work with partners who manufacture together, but if we take into account the extent of the work to be done by us, we will have some manufacturing that will be done by us. For home and personal care, we don’t have to do scattered manufacturing, ‘he said. ‘The investments come as more companies plan to switch to trademark goods over the upcoming decades. About 60% of total expenses for retail consumption in India are still food related. India’s packaged comfort food market is expected to reach £ 4.883bn with FY26 with an 11% composite annual growth rate (CAGR) over FY22, according to recent estimates by Deloitte. India’s overall non-alcoholic beverage market is expected to grow by 6.7% annually to 2028.