The Indian government's Foreign Investment Promotion Board has approved Hofbrau's plan to invest $1.25m for a 25% interest in a joint venture to produce beer in India.
Hofbrau will launch its light and strong beer in 330ml and 650ml bottle in conjunction with New Delhi-based Kool Breweries.
Though India's fast-growing $850m beer market has attracted a slew of multinational liquor marketers, product launches are few and far between. So far, U.S.-based Stroh Brewery Co. is the only foreign brewer to licence and launch its canned beer variants in the market currently dominated by Bangalore, Karnataka-based UB Group's Kingfisher brand.
Copyright October 1996, Crain Communications Inc.