Britannia not exiting Kolkata: CEO Varun Berry
Britannia Industries, a Rs 16,546-crore biscuit manufacturer, has no intention of exiting Kolkata. Amit Mitra, special advisor to Bengal Chief Minister Mamata Banerjee and former state finance minister, announced on Tuesday that Britannia’s MD and CEO Varun Berry assured the state government that the Nusli Wadia-owned company would uphold its over 100-year legacy in the city.
Concerns had been raised following the acceptance of a voluntary retirement scheme (VRS) by 122 permanent workers at Britannia’s Taratala factory in Kolkata, coupled with a halt in production. These events fuelled speculation about the potential withdrawal of another major business, potentially tarnishing the city’s image as an investment hub.
In a move to mitigate these concerns, Mitra conveyed to reporters at Nabanna that Berry, currently overseas, had personally called to allay fears of Britannia’s imminent exit. Berry committed to visiting Kolkata with senior executives upon his return to India for discussions with the state government.
Berry further assured that Britannia would continue its production of biscuits, snacks and dairy items worth Rs 1,000-1,200 crore annually. He also confirmed that the company would retain its registered office in Kolkata (at 5/1A Hungerford Street) and continue to hold its annual general meetings of shareholders in the city.
