Business News | India Exploring Greater Opportunities in Beauty, Personal Care Sector with L'Oreal: Piyush Goyal
Get latest articles and stories on Business at LatestLY. Union Minister of Commerce and Industry Piyush Goyal on Friday said discussions were held with L'Oreal Group on strengthening sourcing, manufacturing and exports from India, while also exploring new opportunities for the country's beauty and personal care sector.
New Delhi [India], May 8 (ANI): Union Minister of Commerce and Industry Piyush Goyal on Friday said discussions were held with L'Oreal Group on strengthening sourcing, manufacturing and exports from India, while also exploring new opportunities for the country's beauty and personal care sector.
In a post on X, the minister said he "held a meeting with a delegation led by Vismay Sharma, President - South Asia Pacific, Middle East and North Africa Zone, at L'Oreal Groupe."
The minister said the discussions focused on "strengthening sourcing, manufacturing, and exports from India," highlighting the government's continued push to position India as a global manufacturing and export hub across sectors, including beauty and personal care.
The talks also touched upon the company's recent expansion in India through its technology operations.
"Given that L'Oreal launched the world's largest Beauty Tech Global Capacity Centre in Hyderabad recently, explored avenues to unlock greater opportunities for India's beauty & personal care sector," the minister said in the post.
The Global Capacity Centre launched by the company in Hyderabad is expected to support technology, innovation and digital capabilities for the company's operations. The minister's remarks indicate that the government is looking to leverage such investments to further strengthen India's role in the global beauty and cosmetics value chain.
The meeting assumes significance as India's beauty and personal care market continues to witness rapid growth, driven by rising consumer demand, increasing digital adoption and expansion of premium and organised brands in the country.
India has also been attracting global companies looking to diversify manufacturing and sourcing operations, supported by policy measures aimed at boosting domestic production and exports.
The discussions between the government and the company come at a time when multinational firms are increasing investments in India across manufacturing, research, technology and supply chain operations. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)