India is the largest market for Nestle’s Maggi, with six billion servings in the financial year 2023-24, according to Nestle’s annual report, Business Standard wrote.

Packets of Maggi noodles (Abhinav Saha/HT)

Nestle India reported sales of 24,275 crore for 15 months ending on March 31, 2024, according to the article.

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India is also one of the fastest growing markets worldwide for the company with a high double digit growth rate, according to the article.

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It said that its prepared dishes and cooking aids business recorded a strong growth in India due to a number of factors including a balance of product mix, pricing and volume growth in Maggi noodles and Maggi Masala-ae-Magic,

Having introduced over 140 products in India over the last eight years, the company plans to invest 7,500 crore between 2020 and 2025, the article read.

Maggi however, has been subject to controversy in India. In June 2015, the noodles faced a five month ban over allegations that they contained lead way beyond permissible amounts.

This devastated Maggi’s 80% share of the Indian noodles market, plummeting to zero within a month. Nearly a decade later, it still struggles to reclaim lost ground due to increased competition from new players, the article read.

Nestle India also noted that it sold 4.2 billion fingers of the popular chocolate KitKat, making India its second-largest market.

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Disclaimer: This report is auto-generated from other news portal services. Realtimeindia holds no responsibility for its content.