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Nestle India testing zero-sugar variant for infant food: CMD Suresh Narayanan
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
In an exclusive interview with CNBC-TV18, Nestle India CMD Suresh Narayanan says the company is compliant with the law of the land and claims added sugar has been reduced by 30% over the last two years and the company is testing zero-sugar variants for infant food in India.
Nestle India is testing a zero-sugar variant for infant food in the country. Sharing this during an exclusive interaction with CNBC-TV18, chairman and managing director Suresh Narayanan emphasised the company is compliant with the law of the land and has provided samples to the Food Safety and Standards Authority of India (FSSAI).
Narayanan said the company has reduced added sugar by 30% over the last two years in its products.
Highlighting the nutritional value of its flagship product, Ceralac, the CMD assured consumers that it meets all necessary nutrition parameters.
Nestle India is facing scrutiny from food safety authorities for allegedly adding sugar and honey to its infant milk and cereal products in various countries, including India.
A recent Public Eye investigation found a disparity in the company’s product formulations between affluent nations and developing regions.
In India, for instance, popular Nestlé baby-food brands were found to have high levels of added sugar, with each serving of Cerelac baby products averaging nearly three grams of sugar.
Narayanan sounded optimistic about Nestle India’s growth prospects, targeting to bring back volume growth, while adding that the company aims for a robust revenue growth of 10–11%, coupled with healthy margins ranging between 20% and 22%.
On Nestle India’s joint venture with Dr. Reddy’s, the CMD said it presents a significant opportunity, with anticipated revenues of ₹1,000–1,500 crore within a year or two of launch.
Narayanan also revealed plans to introduce Nespresso in India over the next five years, with a firm commitment to maintaining quality while ensuring competitive pricing.
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