Sodhi intends to expand cooperative titan GCMMF business both at home and abroad. It contemplates spending about Rs. 4000 to 5000 crore over the next couple of years on the technologically latest plants and allied facilities to meet the growing demand for dairy products.
The GCMMF is planning to sell its products in the vast Russian market hot on the heels of its success in the US. The cooperative major is already in talks with the Russian Galactika Group, GCMMF MD R.S. Sodhi said. Sources in the loop on the development say as the Russian team that visited the GCMMF has returned with a positive experience, the deal between the two is most likely to be inked soon.
Meanwhile, Mr. Sodhi also informed Indian Cooperative that there would be no spike in milk prices at least during the year 2015 because there was no inflationary pressure.
With the expansion plan ready for domestic as well as foreign market Mr. Sodhi is confident of achieving an annual turnover of Rs. 50,000 crore by 2020.
Incidentally, the cooperative giant boasts connection with around three and a half million milk farmers supported by 17 thousand grass roots cooperative societies.