Korean company investing Rs 250 crore in India. Do you know where?
As foreign companies are increasingly interested in setting up business in India, Atomy's India branch in South Korea has decided to set up a new factory in India with an investment of around Rs 250 crore.
South Korea's Atomy, has decided to set up a food and supplement manufacturing plant with an investment of around Rs 250 crore. It has decided to export goods not only for Indian trade but also for foreign markets through its factory to be set up in India. Sheikh Imtiaz Ali, managing director of Atomy India, said the company was currently looking for land in the NCR region to set up a factory.
Atomy India has also announced plans to launch a global sourcing and global sales plan for a factory to be set up in India by 2022. Sheikh Imtiaz Ali also said that Atomy India plans to export Ayurvedic products from India to other parts of the world. Atomy India currently trades in 50 countries and traditional Ayurvedic products in India have the potential to go to these 50 countries. Atomy India has also partnered with 10 Korean manufacturers to launch a factory in India.
Atomy India wants to distribute goods across India through its newly set up factory. In addition, with an investment of Rs. 250 crore, the factory is scheduled to be completed by 2025. Atomy is the 12th largest seller in the world, selling 426 items in South Korea. It sells about 63 products in the Personal Care, Living, Foods and Health Supplements segment in India.