Diabytes
Maggi India News
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However, volume-wise Maggi is still away from the pre-crisis period, when Nestle used to dominate the market with 75 percent market share.
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Nestle India's instant noodle brand Maggi, whose sales were severally hit by FSSAI ban last year, has regained its leadership position capturing 57 percent share of the market in June this year.
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In the aftermath of the Maggi crisis, Nestle India is aggressively trying to increase the consumption of its flagship instant noodles brand eying double digit growth.
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This is for the first time that a company was dragged to NCDRC using a provision in the three-decade old Consumer Protection Act.
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Maggi is manufactured by Swiss multinational Nestle through its Indian subsidiary.
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Swiss multinational food giant Nestle on Friday lowered its full-year growth forecast to 4.5 percent this year due to ban on Maggi noodles in India and slower sales recovery in China.
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The damage claim from first of its kind class action suit against Nestle India is likely to go beyond Rs 640 crore as the government is "tabulating further damages" for selling "defective and hazardous" Maggi noodles.
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The government will seek Rs 426 crore as damages from the Indian unit of Swiss giant Nestle for allegedly indulging in unfair trade practices and misleading advertisements related to Maggi, its banned noodles product.
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