India’s emergence as one of Nestle SA’s five largest markets globally is now within sight, with the Swiss food and beverage major expecting the country to sustain above-group-average growth and attract higher investments, CEO Philipp Navratil said on Wednesday.
India is already among Nestle’s top 10 markets by topline contribution and was the group’s highest-performing market in the first half of 2026, with the company now seeing a near-term opportunity to move into the top five. “Top five is definitely on the horizon. It is not something that will happen 20 years down the road,” Navratil said at a select media roundtable during his India visit. He added that the company expects growth to be led by volumes and supported by investments.
India’s strong growth is also prompting Nestle to increase its focus on the market as one of its key growth priorities globally. “As India grows above the group average, the investment will also be above the group average in this country,” Navratil said, without specifying the amount of additional investment. Nestle had announced a Rs 5,000 crore investment programme for India in 2022.
The company currently has nine active manufacturing facilities in the country, with a tenth plant under development in Odisha. Navratil said India’s scale, expanding consumer base, urbanisation and the movement of consumers into the middle class provide a combination of factors that makes the market particularly attractive. Its extensive distribution network also allows the company to reach consumers across the country, he said.
Beyond the domestic market, Nestle is looking to make India a larger manufacturing and export hub for its global operations. Nestle India currently exports products to about 30 countries, but the company sees scope to expand both the number of markets and the scale of exports. “We should do even more to see India as a production hub to export. We’re doing that already,” Navratil said, adding that the scale of the Indian market also allows investments in factories to reach capacity quickly.
Nestle’s June-quarter global earnings had highlighted high double-digit growth in India, which the company described as “very, very strong” and said had led growth in its Asia, Oceania and Africa zone.
Navratil said the company sees opportunities at both the value and premium ends of the market, with its India strategy focused on increasing consumption while expanding the portfolio across price points. The company’s priorities include having the right portfolio, improving efficiencies, building a stronger performance culture and driving real internal growth, or RIG. RIG-led growth, he said, would involve reaching more consumers and households, while also using premiumisation, affordability and value to serve consumers across the income spectrum.
However, Nestle does not intend to chase growth at the expense of product quality or consumer acceptance, Navratil said, stressing that the company’s approach in India would remain focused on the long term.