New Delhi : Fonterra, the world’s largest dairy exporter, on Wednesday entered into a joint venture with Future Consumer to produce a range of consumer and food service dairy products.
The JV, Fonterra Future Dairy Partners, would enable New Zealand-based Fonterra to establish its presence in India. “It (partnership) will allow us to prepare the groundwork and make the most of our expertise as we enter the world’s largest and fastest growing dairy industry,” Fonterra’s COO Global Consumer and Foodservice Lukas Paravicini said. Consumer demand for dairy in India over the next seven years is set to increase by 82 billion litres – seven times the forecasted growth for China, he added. “The partnership will be driven by growth through profitability. The initial stages of the partnership will focus on product development, and marketing with the right capital investment made during this period,” he said.