Veetee forays into ready-to-eat segment

Bangalore, July 18: Veetee Fine Foods, major producer and exporter of 'Basmati' rice, today announced its foray into the ready-to-eat segment with a collection of 13 delectable North Indian dishes.

Talking to newspersons here, Company Chief Executive Officer Aayushman Gupta said the range of dishes available under 'curry collection,' included curries and rice dishes.

Another 17 dishes, under development, would be launched within a month and research was on for 12 dishes, he added.

He said due to retail boom, change in lifestyle and emergence of nuclear families, the Indian food industry was expected to grow exponentially.

Quoting a survey, he said the size of the ready-to-eat segment was estimated to be around Rs 200 crore and the company had plans to corner at least 30 per cent market share in the next five years when the size was expected to cross over Rs 500 crore.

Further, the growth (50 per cent in volume terms) witnessed in the Microwave Oven category would fuel the growth of the segment in India, he said.

He said the products had been launched already in Kolkata and the response was very good.

The company had invested three million US Dollars and hoped to sell two million pouches in the first year of operation, he added.

UNI