Chaudhary Group chairman Binod Chaudhary, known for creating Wai Wai noodles, runs 16 different businesses across 60 countries was asked in an interview about the Maggi crises and how it helped WaiWai in its business. CG chairman said that they don’t want to compete with Nestle, which is benchmark for companies. Wai Wai, not only in India, but also across globe setting its plants, building capacity and strengthening distribution and also diversifying into various sectors like noodle bar called Wai Wai city, which is first of its kind
Talking about the 16 businesses and presence in 60 countries, vision of Wai Wai is clear to enter the Indian market and focus on food and hotels taking hospitality as the key factor for growth.
Expressing his views on other businesses, Binod Chaudhary wants to bring his Nepal bank to India and trying for the permission from authorities. They also want to diversify into infrastructure and education like waiwai already have food park in Rajasthan and looking forward to open a university in India.
India accounts for about 25% of the global turnover of Wai Wai. About 30% comes from Nepal and the rest from all the other countries we do business in. Talking about the investment in India, Wai Wai will require 500 crore of capitalization to setup a bank itself but investment is not a problem for the company as it is Debt-Free company.
Wai Wai is also in tobacco business in Japan and wants to move out of it and regarding brewer in Nepal , it wanted to stay in that business for some time.