Date:01/04/2004 URL: http://www.thehindubusinessline.com/2004/04/01/stories/2004040101180600.htm

Back ITC Foods forays into curry pastes

Our Bureau

"Indian homes are increasingly experimenting with cuisine and we plan to leverage this."

Pune , March 31

ITC'S foods division is gearing up to straddle the country's rapidly growing market for convenience-oriented products in the ready-to-eat segment. The company on Wednesday announced its foray into the segment with a range of curry pastes under its `Kitchens of India' brand.

Talking to reporters in Pune, where the product will be test-marketed before being extended to other places, Mr Ravi Naware, Divisional Chief Executive of ITC Foods Division, said the foray into curry pastes is directed at securing leadership position in the convenience food products segment.

"Urban home makers are increasingly coming under pressure for time, and products like these are intended to make life easier for this segment," Mr Naware said.

The company already has a range of ready-to-eat Indian gourmet main courses and desserts under the Kitchens of India range. It has initially launched half-a-dozen pastes, including a vegetable and Hyderabadi biryani paste, a couple of chicken curry pastes, fish and mutton curry. There are also plans to launch at least six-seven more by the end of the year.

"Indian homes are increasingly experimenting with cuisine and we plan to leverage this by launching a range of regional specialities from Gujarat, South India, Goa and other States," Mr Naware said.

ITC Foods will compete for kitchen space in Indian homes with existing players like Tasty Bites, Rasoi Magic and Parampara in the Rs 5 crore market..

"What will differentiate our product from the rest is the fact that each of the recipes has been developed by our master chef over the years and is being used every day by them in ITC restaurants like Dum Pukth. For the urban family aspiring to have good food on their table, our curry paste offers the best choice and the option to innovate," said Mr Naware.

The company has launched the curry pastes at Rs 30 for a pack serving four.

Mr Naware said the range is expected to drive volumes for the company due to its convenience and value-for-money positioning. "Over the next three years when the demand for such products matures, our investments will start paying off," he added, pointing out that in addition to the Rs 10 crore spent on setting up an R&D centre, the company will spend substantial amounts on marketing the concept over the next few months.

The company plans to hold in-store demos for consumers in Pune after which the product will be rolled out in Mumbai and Bangalore by May. By mid-June, all the major metros will be covered.