'Emami will focus on food & paper in 2024'

Last month, Kolkata-based Emami Group roped in McKinsey & Co to help it identify new growth opportunities. In this interview to Akanksha Nagar, the group's promoter directors Aditya VAgarwal and Manish Goenka discuss ambitions and plans for 2024. Edited excerpts:

You are working with consulting firm McKinsey to identify future areas of growth. What exactly is the game plan? Agarwal: Emami has partnered with consulting firm McKinsey & Co to explore and identify potential areas of growth, of which food happens to be a major one. The company has given McKinsey a specific mandate to look into two to three categories within the food industry that we could potentially enter. The focus of this exploration includes packaged staples such as atta, rice, sugar, and salt, as well as ready-toeat and ready-to-cook products, gourmet packaged food, and perhaps even kitchen appliances. We also aim to leverage their expertise to pinpoint emerging sectors and capitalise on the potential for success in the evolving landscape of the food industry.

Goenka: This year, we are actively exploring new ventures and conducting studies in seven or eight sectors. The final decision on the sectors will be made after a careful evaluation, aligning with the overarching goal of driving business growth. The intention is to select one or two of these sectors for initial investment and expansion.