ITC is testing its brand new recipes in
Kitchens of India curry pastes in the Pune market and the products will soon hit all the
metro markets by mid-June. The ready-to-cook curry paste market is estimated to be around
Rs 5 crore but Ravi S Naware, chief executive, ITC Foods, says with entry of a player like
ITC will grow the market to Rs 50 crore and get a significant share of this market.
The company has invested Rs 10 crore on
R&D and product development and will be spending even more to develop the market, says
Mr. Naware.
"People have all kinds of reservations
and doubts. So we will conduct events and demonstrations to develop the market and assure
consumers that it is a 100 per cent natural product with no preservatives, added flavours
or synthetic colouring materials," he said.
ITC is already present in the
ready-to-serve segment, which is a Rs 40 crore market and is growing at 30 to 35 per cent.
The new offerings will also be exported to
the US and the UK with high street stores as targets in an attempt to go mainstream and
not restrict the products to Indian stores and people of Indian origin. To the Kitchens of
India curry paste, fresh ingredients and water are added and cooked.
Vegetable biryani paste, Hyderabadi biryani paste, chicken
curry paste, butter chicken curry paste, mutton curry paste and fish curry paste are the
initial offerings. The packet priced at Rs 30 serves four. Naware says these six dishes
can generate 12 to 13 dishes with a little creativity. More regional specialties are also
in the offing.