Goel Group has announced its venture into the Indian frozen foods market. The company is India’s leading integrated steel venture with a strong presence in Central India.
The company has announced the inauguration a state-of-the-art manufacturing plant in Raipur, Chhattisgarh making it the first food processing plant in the state.
The Indian frozen foods market was valued at around Rs 74 billion in 2018 and is further projected to reach a value Rs 188 billion by 2024, expanding at a CAGR of around 17% during 2019-2024.
The Goel Group has invested heavily in implementing the latest and best-in-class technologies at its facility to deliver superior products and set new benchmarks in the industry, it said.
Suresh Goel, Chairman, Goel Group, said: “We are pleased to announce our new venture into the vegetarian frozen foods segment. We have been wanting to expand our business and enter into a new segment because we see lot of opportunities in India to utilise our expertise in the food category. Apart from the tremendous growth opportunity that this category offers considering the fast-paced lives of consumers today, there is a need for better quality and unique frozen food options that they can trust. We will cater to this very need with our offerings.”
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