Swiss-Dutch nutrition, health, and beauty company dsm-firmenich is planning a significant investment of over $100 million (more than ₹835 crore) in India, as announced by its global CEO, Dimitri de Vreeze, on September 25. This investment will focus on expanding capacity, including the construction of a new manufacturing plant, as the company aims to make India a key export hub for ingredients supporting its global operations.
Formed through the merger of the Netherlands-based DSM and Switzerland’s Firmenich, both over a century old, dsm-firmenich expects India to emerge as one of its top three global markets within the next five years. Currently, the company’s business in India is valued at around half a billion dollars, with plans to invest an additional $100 million in the coming years to further scale up. Vreeze emphasized India’s crucial role in the company’s growth strategy, citing its fast-growing markets in preventive healthcare, healthy food, and sanitation.
The new investment will focus on establishing new facilities, offices, labs, and innovation centers. Additionally, over the next two to three years, the company plans to enhance its ingredient supply capabilities by expanding capacity in its existing production lines. This expansion will primarily focus on nutrition, health, and beauty ingredients for both domestic and international use. The company is also looking into new capacity through greenfield plants, particularly for its ‘taste’ business vertical to meet local demands.
Currently operating seven plants across India, dsm-firmenich has facilities in Daman, Dahej, Vadodara, Jadcherla (Telangana), Navi Mumbai, and two in Kerala. Vreeze highlighted India’s importance in the company’s global strategy, noting that they have consistently achieved double-digit growth in the country over the past five years. He also shared his ambition of reaching $1 billion in revenue from the Indian market as quickly as possible.
In addition to the domestic market, India serves as a vital production hub for dsm-firmenich’s global operations, with ingredients manufactured in India being used for the company’s global portfolio. The company’s rapid growth in India is part of a broader effort to capitalize on the country’s expanding market and potential for innovation.
Looking ahead, Vreeze foresees India climbing to one of the company’s top three global markets within the next five years, with the U.S., Europe, and the Asia Pacific region currently leading the way. He expressed the urgency of investing in India now, describing the country’s economic growth as a fast-moving train that the company is eager to be part of.
To navigate this expansion effectively, dsm-firmenich has established an India advisory board, bringing together experts from various sectors, including business and academia. With 1,700 employees currently in India, the company expects this number to exceed 2,000 in the near future, further solidifying its presence in the country. Globally, dsm-firmenich operates in nearly 60 countries and generates over 12 billion euros in annual revenue.
