· Quality sweets at a reasonable price for consumers: Randhawa, Sukhjinder Singh.
· Products will be accessible throughout the year through the PPP model, based on demand from packaged product fan
As part of MILKFED’s market expansion strategy, Cooperation Minister S. Sukhjinder Singh Randhawa, accompanied by Cooperative Societies Vikas Garg, Kamaldeep Singh Sangha, MD Milkfed; with Ramesh Aggarwal, MD Chandigarh Sweets, launched six new sweets, namely Kaju Burfi, Brown Peda, Soan Papdi, Milkcake, Navratan Laddu, and Motichoor Laddu, manufactured under the brand name Verka on Public Private Partnership (PPP).
S. Randhawa, speaking on the occasion, stated that Milkfed’s primary goal is to offer its milk producers with the highest remunerative rates and good marketing for the goods produced. During the lockdown era, the whole world was reeling from pandemic, and it was discovered that consumer demand has switched toward packaged items. Given the chance, Milkfed determined that it was an appropriate moment to launch Sweets, Bakery, and Namkeen items under PPP and started packing the necessary products.
Further, the Minister stated that Milkfed has signed a PPP deal with Chandigarh Sweets for the manufacturing and distribution of Verka branded sweets, bakery, and namkeen, with the member partner receiving brand royalties.
In line with the stipulated terms and conditions, the party should provide a minimum annual revenue of Rs. 30 crores and shall also ensure that the goods be sold at both the international and national levels.
He stated that Milkfed will soon launch a variety of namkeen and bakery products under the same model. He stated that Milkfed’s Verka milk plants are being modernized in order to improve the quality of its milk products.
The Minister elaborated on the items, saying that formerly, Verka used to make and distribute Verka brand sweets only during the festival season, despite customer demand for the products all year.
Keeping in mind the demand, Milkfed has entered into an agreement with the party under the PPP Model. By doing so, Milkfed has not only saved on infrastructure, but also incurs its brand goodwill, which will further improve turnover and net profit due to the percentage royalty that Milkfed shall receive.
Milkfed’s MD, Kamaldeep Singh Sangha, stated on the occasion that the company is developing at a rapid pace despite the epidemic and is releasing new items to enhance its handling capacity.
He further stated that development and expansion projects of Rs. 254 cores are now underway in Jalandhar, Ludhiana, Mohali, and Patiala Dairies, as well as Punjab Government and NABARD-assisted Mega Dairy Projects at Bassi Pathana, which is expected to be completed by the end of this month.
He also announced the successful introduction of Milkfed’s Dairy Whitener, Haldi Dudh, PIO Sweetened Flavored Milk, and Real Fruit Ice Creams.
Vikas Garg, Administrator of Milkfed and Registrar of Cooperative Societies stated that during the COVID-19 pandemic when the entire country was reeling from an economic slowdown in the industry and service sectors, Milkfed procured 17 percent more milk than it had procured in the fiscal year 2020-21.
This has reduced cash liquidity at the producer level and helped to support the rural economy.
Ramesh Aggarwal, MD of Chandigarh Sweets, stated that with this effort, the growing demand for Verka goods due to its worldwide brand endorsement by the United States, Canada, the United Kingdom, Australia, and the Gulf countries will be easily satisfied, in addition to the home market.