Retail in Asia

In Sectors

Spain’s Borges enters India FMCG market; to invest USD13.2m

Spanish FMCG player Borges on Thursday announced its foray into the Indian market with the launch of its olive oil brands and aims to become a INR100 crore (INR1 billion, USD22.0 million) firm in the country within the next three years.

The USD700 million company, which set up a 100 percent Indian subsidiary last year, has earmarked an investment of up to INR60 crore (INR600 million, USD13.2 million) for marketing its products by 2013.

"India and China are the next big opportunities which Borges is looking into. The Asia-Pacific region is a huge growth engine for the company and India will be a big focus market for us," Borges India managing director Rajneesh Bhasin said.