Britannia Industries to invest ₹621 crore under PLI scheme.

Packaged food major Britannia Industries will be investing ₹621 crore in the next three years as part of its proposal for the production-linked incentive (PLI) scheme which recently got the government’s nod. Britannia has also decided to revamp its leading biscuits brand Good Day - the biggest makeover undertaken for its top brand - through a new product design and packaging as part of the new brand identity.

Last week, the Food Processing Ministry selected 60 applicants which will avail benefits based on the investments and sales-based criteria under the PLI scheme in the food processing sector. Britannia’s application had been selected under the Ready-to-Eat/Ready-to-Cook category.

Varun Berry, Managing Director, Britannia Industries, told BusinessLine, “We appreciate the initiative taken by the government. This scheme will give a much needed boost to the food processing sector and promote growth and investment. We will be making investments of approximately ₹621 crore in the next three years.”

He added that Britannia will be working towards meeting investment and growth commitments under the PLI scheme.

Talking on Good Day’s new brand identity, Berry said significant investments are being pumped in by Britannia for the largest revamp of its top brand. Under the new brand identity, the new Good Day biscuit design will sport different smiles and comes with a refreshed packaging and logo. As part of the high intensity launch, the new packs are being made available in over 4.8 million retail outlets. It is also backed by a high decibel marketing campaign.

“Good Day has always stood for optimism and spreading happiness. The world has been witnessing challenging times and we felt this was the right time for the brand, that has undergone its biggest makeover, to create optimism. The new Good Day brand identity is inspired by the diverse smiles of India. Every pack of Good Day across the country will carry multiple smiles as part of the biscuit design,” Berry added.

The brand accounts for nearly one-fourth of Britannia’s revenues and is expected to outpace the total growth of the company by about 2-3 per cent. It enjoys a strong market share in the urban region and the company has been focusing on expanding its rural reach.

“Over the past few years, we have been focusing on growing Good Day’s reach in rural regions and its distribution has moved up smartly. Consumers are increasingly moving towards trusted packaged biscuits brands from the unorganised segment in rural markets, and we believe there is tremendous growth potential for the brand in the rural regions,” Berry added.

Britannia also plans to add new variants to the Good Day portfolio such as Good Day Harmony with exotic nuts among others.

HBL