Philip Morris tries Indian market again

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NEW DELHI--Philip Morris Cos. is applying again to India's government for permission to establish a wholly owned subsidiary for the production and marketing of food products in the country.

The $64 billion marketer's earlier proposal to launch cheese, breakfast cereals and powdered products was deferred many times by the then government's Foreign Investment Promotion Board. The company's latest proposal is to introduce vegetable puree, quick-food grains, processed powder food, yeast-based food supplements and pasta.

The company's sole investment in India is a 36% stake in Godfrey Phillips India, a leading cigarette marketer controlled by the Modi Group.

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