Indian conglomerate Emami is likely to enter Iran and is in talks with five enterprises to set up a manufacturing plant in the said country amid the stress between the US and Iran on the impending sanctions, Business Standard reported.
The Emami products will be regionalised and the company will initially focus on its skin and haircare segment, said the BS report.
"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.
Iran does not allow foreign direct investment and the only way to enter the country is through partnership, added the report.
Goenka told the paper that the options for Emami included setting up a joint venture or a plant or opting for a third-party manufacturing.
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