"We are very keen to enter the Chinese market with fast moving consumer goods," Adi B Godrej, chairman of the Godrej Group, said in Beijing.
"We are talking to some Chinese companies for possible joint ventures. We are also looking into other options, including acquisition of a suitable Chinese company," Godrej, who is accompanied by a 16-member management team, said.
The top executives of company have visited some companies in east China and have had discussions with local officials and industry leaders so as to "understand" China first-hand.
He said the purpose of the visit by the senior management to China was basically to know first-hand and assess the market for Godrej products like hair colour.
The Godrej group, which already sources a number of products from China, including microwave ovens and locks, will be looking at a range of consumer products in the world's most populous nation, he said.
The China entry plan is also part of the company's ambitious plan to expand its footprint from the current 10 nations, he said. The company is looking at a turnover of around $50 million to $120 million from its China venture, Godrej said.
Currently, only 15 per cent of the revenue of the Godrej Group is from foreign operations. "We want to rapidly improve this figure," he said, adding that the company was looking at other opportunities in foreign countries.
At the same time, Godrej stressed that the company would not enter a "greenfield" in China as it would be extremely difficult to penetrate the market and survive the competition.
"So our strategy would be to initiate a joint venture or acquire an existing brand name in China," he said, adding the company's earlier tie-up with P&G for consumer products have given it an insight into the way multinationals operate.
© 2025