Tata Group to venture into ready-to-eat food market

Tata Group, one of the country’s largest conglomerate ia likely to enter the market dominated by the likes of ITC, MTR and Patanjali, with its ready-to-eat food.

It will look at manufacturing and marketing vegetaranian, non- vegetaranian, nonalcoholic, carbonated and non-carbonated food products.

The company confirmed the development but said the project right now is in experimental stages, which may or may not evolve into a business in the future.

The Tata Industries spokesperson said, "Market opportunities we see are at the intersection of consumer preferences, especially millennial, for recipes in a convenient and quick format. The conventional domestic ready-to-eat market is too small currently to be seen as a standalone market opportunity."

The spokesperson also added, "It is premature to quantify investment on an exercise which is in the nature of an experiment. In case, hypothetically, there is a substantial market opportunity in the future which we can address, we will look at all viability parameters before making an investment decision."