Amway announces Rs 170 crore investment in India over 2-3 years

Nutraceuticals giant, Amway, has reportedly made it to the front page following its recent announcement of investing a whopping Rs 170 crore in the Indian sub-continent over the next 2 to 3 years, in an attempt to boost the research and development, innovation, and manufacturing automation. 

Moreover, through this investment, the company also plans to strengthen its nutrition portfolio in the country, which apparently accounts for 60% of its overall revenue.

Commenting on the company’s future plans and growth, Anshu Budharaja, Amway India CEO, stated that moving forward in 2021, the firm’s growth would potentially be driven by key controls including accelerated digital adoption, elevating awareness around immunity and nutrition, and a brilliant supply chain with seamless last-mile delivery.

It was also mentioned in a statement that the company would witness a strong pipeline of innovative product launches in 2021. Speaking of which, Amway India made a debut into a new category with the launch of Chyawanprash by Nutrilite to boost the immunity supporting portfolio, earlier this year.

Reportedly, it also introduced Nutrilite Vitamin C Cherry Plus tablets, made exclusively for people with weakened immunity.

Budharaja added that the organization is further looking forward to building multiple innovative solutions like developing new products in the traditional herb’s category while also apprehending the possibilities of entering the affordable supplementation space and new formats.

In lieu of this, Amway India announced focusing on producing affordable traditional herbs nutrition solutions and expanding the kid’s nutrition portfolio.

Most importantly, Amway’s India biz is also working towards establishing strategic partnerships with some of the leading brands to deliver the best of products and solutions to its consumers, similar to its ITC partnership in 2020.

For the record, both Amway and ITC joined forces to jointly distribute an expansive range of products in the immunity-boosting and health space, in 2020.

Source Credit: https://www.outlookindia.com/newsscroll/amway-plans-to-invest-rs-170-cr-over-23-years-in-india/2101231