Malaysia-based natural sweetener firm PureCircle will invest USD 200 million (about Rs 1,330 crore) over 5 years in India as it forays into the country.
PureCircle, which sells zero-calorie natural sweetener, stevia across the world, received FSSAI nod in December 2015.
“We will invest USD 200 million over the next five years in India in supply/value chain, increasing cultivation, getting insights and so on. We are already in talks with multinational food and beverage companies,” PureCircle Senior Director South Asia Region Ajay Chandran told PTI.
Chandran said the companys clients in markets outside India includes Nestle, Pepsi, Coca Cola and Danone.
The company plans to partner with Indian farmers for 5,000 hectares Stevia cultivation in India.
Stevia is called Meethi Tulsi and Meethi Patti by Indian farmers. Stevia leaves are processed by PureCircle to form a white powder substance, used as a sweetener.
We have already started trials in six states including Punjab, Uttar Pradesh, Tamil Nadu and Jharkhand, he said.