'For us, it's "keep moving and keep building a critical mass", which is commensurate with the size of the country.'
French food major Danone, which sells early-life nutrition products and supplements like Protinex in India, on Friday announced investing Euro 20 million (around Rs 187 crore) to expand its manufacturing facility in Lalru, Punjab.
Chief Executive Officer Antoine De Saint-Affrique speaks to Akshara Srivastava/Business Standard in Chandigarh about the opportunities in India amid an ongoing protein health revolution.
You have announced a significant investment in India. How big is your Indian market and where does it figure on your list of priorities?
India is a relatively small business within the overall world of Danone, and the country should be to Danone what it is in the global economy.
When I look at my portfolio of countries, the United States is number one, followed by China.
On the rankings, India is not where it should be and this is Danone's ambition (to give the country its place).
Danone India has been performing well ... performing well consistently.
For us, it's "keep moving and keep building a critical mass", which is commensurate with the size of the country.
It is a top-priority country for us.
Let's talk about the growing competition in the protein market. You exited the dairy business amid competition from large cooperatives.
They are now entering the protein segment. How does that affect your business?
Our portfolio in India has undergone a fundamental transformation over the past years and we are getting back to the roots of Danone -- doing health through food.
We are one of the largest players in protein globally and it is a one billion euro business for us worldwide.
One of two Indians suffers from protein deficiency, which means the market is huge and Protinex is a leading player in India.
We are obsessed with developing scientifically superior products, obsessed with the consumer, and obsessed with doing business responsibly.
We love competition. I think competition makes you better. I believe there is a huge future for us in protein and leveraging protein in a big way.
India is at the heart of what we are doing.
I expect to see consistent, fast growth here.
Do you plan to expand your portfolio in the country?
In both the categories we play in here -- early-life nutrition and protein -- we are only scratching the surface.
So, before we do anything else we need to bring those to a size that is much more important than it is today, because there is plenty of opportunity and the market is immense.
Globally, we have good products that are health-focused, and some of them can be relevant to the Indian market at some point, but I will not be opening the door for my competitors by mentioning them right now.
Feature Presentation: Aslam Hunani/Rediff.com
