Hrshey's Indian joint venture Godrej Hershey is reported to be introducing chocolate products into Indian confectionery market. The JV was established in 2007, and it was focused on mainly food and sugar confectionery products in India.Hershey holds 51% of the joint venture.  The JV has already introduced a chocolate syrup into the Indian market from Hershey's portfolio.

According to Euromonitor reports that the growing Asian economies and rising consumer affluence have resulted in consumers gradually trading up from sugar to chocolate confectionery. And the category is expected to outperform both sugar confectionery and gum over the 2008-2013 forecast period. However, competition in the attractive Indian chocolate confectionery market is very strong from rival international players like Nestle and noe Kraft owned Cadbury. Cadbury, owns aroun 70% market share of the Indian chocolate confectionery market and followed by Nestlé. On the other hand since per capita consumption of chocolate confectionery in India is still significantly below than developed markets, there is room for new players.

source: confectionerynews.com