New Delhi [India], March 6 (ANI): Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited, signed a Memorandum of Understanding (MoU) with Finnish food major Fazer to establish a long-term strategic partnership in India.

According to Reliance Consumer Products, the collaboration aims to produce, market, and distribute branded premium chocolates using Fazer's recipes and quality standards across the country. The agreement was formalised during the state visit of the President of Finland, His Excellency Alexander Stubb, to India, with the intent to strengthen bilateral business ties and introduce Fazer's products to the local market.

T. Krishnakumar, Director, Reliance Consumer Products Limited, said, 'Partnering with Fazer is a strategic step towards introducing one of the world's finest chocolates to Indian consumers. This will also accelerate RCPL's growth in chocolates & confectionary market. By combining Fazer's globally trusted brands and manufacturing excellence with RCPL's local production capabilities, robust distribution network, and deep consumer insights, we are well positioned to bring world-class products to Indian consumers and elevate the overall category experience.'

Christoph Vitzthum, President and CEO, Fazer, stated, 'This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. With RCPL handling commercialisation and distribution in India we could establish a premium position in the chocolate market and a foundation for a broader scale nation-wide roll-out with a leading and highly capable local partner. Entering the sizable Indian chocolate market through this strategic partnership, could have the potential to accelerate our international growth significantly.'

The partnership combines the Finnish company's heritage brands and product portfolio with RCPL's scale, which includes access to nearly 3 million retail outlets and expertise in the Indian market. Both entities seek to build a position in India's chocolate and confectionery sector, which currently sees rapid growth due to rising consumer incomes and organized retail penetration.

RCPL intends to utilize its local production capabilities and distribution network to manage the commercialisation of these premium products.

RCPL is committed to offering 'global quality at affordable price' and has introduced some of the popular global brands like Maliban, Nexba and PACE, among others, to the Indian consumers.

With operations in the Nordics and Baltics, Poland and China as well as with exports to more than 40 countries worldwide, Fazer already has an established global presence. Continuing its international growth journey, Fazer is actively pursuing opportunities to expand not only organically but also through M&A, exploring all avenues that enable the company to strengthen its position in both existing and new markets. (ANI)