Shreeji International, an Indian food and agribusiness conglomerate, has expanded its geographic reach and entered the Dubai market. With this strategic development, the company hopes to expand its influence among customers from the Middle East, South Africa, and Europe, ranging from multibillion-dollar corporations to small businesses. According to the company, this development will extend their reach to even more remote areas.
Since 2004, global investments in the food and agricultural sector have increased threefold. According to a McKinsey analysis, the sector has seen an increase in global investment of more than $100 billion. Due to its superior infrastructure, Dubai is a major participant in the food and agri sector. From 2021 to 2026, agriculture in the United Arab Emirates is expected to grow at a CAGR of 3.2 per cent.
The firm stated that it is excited to be a part of this triumph.
Shreeji International has a presence in eight countries and a revenue of more than $25 million, according to the company. Setting up the production unit in Dubai will provide it access to markets in the Middle East, South Africa, and Europe.
“We are in a really intriguing era, as far as agricultural and food sector is concerned,” said Shail Suresh Thakker, founder of Shreeji International. “There are several inventions, technological advancements, and infrastructure improvements taking place. The $7 billion ‘Food Corridor’ project between India and the United Arab Emirates will create a lot of jobs and enhance food yields in both nations. It’s a good time to get into the Dubai market. Pulses, beans, flour, dry fruits, raisins, and spices are just a few of the agricultural items we offer. Aside from that, we also deal with forestry products. We intend to add more agricultural and forestry products to our portfolio, as well as products that satisfy worldwide standards.”
By 2027, the company hopes to have a $200 million turnover, solidifying its position as a market leader. Shreeji International, which is based in Dubai, uses a B2C strategy to process products and sell them through various retail outlets. However, in India, it mostly uses a B2B model.
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Source: The Print
