(Corrects to show sales refer to nutrition unit. Adds dropped
word "nutrition" to headline. Also adds "nutrition unit's" to
MUMBAI, Nov 29 (Reuters) - French food group Danone
plans to double its nutrition unit's sales in India in
the next three years, a company executive said, as the world's
top yogurt maker raises its focus on emerging markets to drive
growth when its traditional European markets are slowing.
Danone early this year paid about $355 million to buy Indian
drugmaker Wockhardt's nutrition business that sells
popular brands such as Dexolac, Farex and Nusobee. The brands
compete with Danone's top global rival Nestle.
"India's growth in the nutrition sector will outpace China's
(growth)," Laurent Marcel, managing director at Danone's India
nutrition business unit, told reporters on Thursday. "We are
here to expand."
India's baby nutrition market is valued about 25 billion
rupees ($450.25 million), in which Danone holds about 8 percent
share, he said.
($1 = 55.52 rupees)
(Reporting by Kaustubh Kulkarni; Editing by Sunil Nair)