With an aim to strengthen its presence in the Indian market, International Flavours & Fragrances Inc has opened a new facility in Gurgaon near Delhi. The International Flavours and Fragrances (IFF) are the major producers of flavours and fragrances, based in the US.
Doug Tough the Chairman and CEO while talking to the reporters said, “Our increased presence in India furthers our ongoing strategy to expand our geographic reach and create infrastructure to serve emerging markets”. The IFF is a global major in manufacturing flavouring agents and fragrances which are used in different areas like beauty care, food products, beverages and detergents.
The new facility in Gurgaon will be manufacturing and developing flavours for the consumers in the National Capital region, including the companies marketing prepared foods, sweets and beverages and dairy products. Tough however, did not reveal the exact investment made by the company in to the new facility which is spread in more than 20,000 square feet.
The operations in India at present contribute to about 3 percent to the global turnover that stood at around USD 3 billion. While the flavour market in India is estimated to be around Rs. 1,200 crore per annum growing at 12 percent year by year.