Emami is looking for partners as it plans to start operations in Iran by the end of this year. This comes at a time when US sanctions looms large on the country, according to a report by Business Standard.
The company is working towards entering Iran by the end of this year and start selling products from the first quarter of the coming fiscal year. It is in talks with five enterprises in Iran.
“We are planning to enter Iran by the end of this year, and from the first quarter of the coming fiscal year, we intend to start selling our products,” Prashant Goenka, director at Emami, told the paper, adding that the country doesn’t allow foreign direct investment (FDI). Therefore, entry into this market requires partnership.