Indian firm eyes Mena market

DUBAI — Amira Nature Foods Ltd on Tuesday said the Middle East and North Africa (Mena) contributes around 50 per cent of its total revenues and the company plans to expand further in the region.

By Abdul Basit

Published: Wed 27 Feb 2013, 10:42 PM

Last updated: Sat 4 Apr 2015, 9:41 AM

The Indian company, which provides packaged Indian specialty rice, expects nearly 20 per cent growth in its total revenues in the current financial year ending March 31, 2013, compared to reported $339 million in the previous fiscal year, Amira’s chairman and chief executive officer Karan A. Chanana told reporters at a news conference during Gulfood in Dubai.

Listed on the New York Stock Exchange in October 2012, the company is just three years short of its centenary. Channa represents fourth generation of the family-owned business and took over charge six years ago. Since then the company start increasing significant sales at home market India and other countries, the chairman claimed.

He said one third of the company’s sales come from India and the remaining two third from global markets. “India has been a great market for the company,” he added.

Amira has presence in 25 countries, but its sales covers over 40 countries across the globe. “We want to touch 70 countries in the next five years,” he said.

Amira has identified the GCC region, and in particular, the UAE, as an important market for its products. The UAE offers strong opportunities for growth with a highly diverse population.

“The UAE is an important market for Amira, due to its significant consumption of basmati rice. We are excited to introduce our best in class products to the refined palates of UAE and other GCC customers,” Chanana said.

“Amira’s key focus is to make the Amira brand available to every household in the UAE. Amira is an acknowledged leader in delivering high quality and innovative food products to a growing number of markets across the globe, and we now want to focus our efforts in the GCC markets,” he added.

With an office in Dubai, Amira has developed plans for large scale investments in import, handling, storage, distribution, experience and marketing operations to complement the evolved lifestyle of consumers in the GCC region.

More news from Local Business