Amul to touch Rs 50,000 crore mark by 2020
Amul to touch Rs 50,000 crore mark by 2020

Gujarat Cooperative Milk Marketing Federation (GCMMF), the makers of Amul brand dairy products will be soon exporting to Russia in next two to three months after the necessary regulatory approvals are in place, as per a report in PTI.

“Revenues during the current financial year may cross Rs 22,000 crore against over Rs 18,000 crore in FY14 and the company would invest Rs 4,000-5000 crore in the next three years on capacity expansion,” said, R S Sodhi, MD, GCMMF.

Earlier in December the inspection team from Russia has already visited the company’s plant and expressed satisfaction.
The company is in discussion with Galactika Group to export dairy products to Russia and once sealed, Amul would become the first Indian dairy products maker to enter into Russian market.

"Russia is going to be a very good market for Indian dairy products exporters. We can start exports to Russia after the approvals come. I think it may take two months," Sodhi added.

According to him, Russia imports about 8-10 lakh tonnes of milk powder and 20 lakh tonnes of cheese per annum. However, Amul's exports stood at Rs 540 crore last year.

"In India, milk and milk products are growing in double digit. Amul is growing at over 24 per cent per annum," he said.

Meanwhile Amul is planning to touch Rs 50,000 crore mark by 2020 and this year the turnover may reach Rs 22,000 crore.

Amul also launched its fresh milk pouches in Hyderabad market recently.

 
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