The Gujarat Co-operative Milk Marketing Federation (GCMMF), the producer of the iconic Amul brand, has announced plans to invest ₹10,000 crore over the next 2–3 years. The investment will fund the setup of 10–12 new plants across India for dairy, ice cream, and food products, supporting the federation’s ambitious target of achieving a ₹1 lakh crore turnover in the near future.
Expanding Capacity for Growth
GCMMF’s Managing Director Jayen Mehta confirmed that this will be the federation’s second-largest investment in just two years. The announcement will be formally made at the World Food India 2025 summit in Delhi.
Earlier in 2023, GCMMF had committed ₹11,000 crore, which has almost been fully deployed to enhance capacity in ghee, cheese, curd, ice cream, protein, and organic products. The new tranche will further strengthen its ability to meet demand growth spurred by GST rate rationalisation in food and beverages.
Current Strength and Market Share
- GCMMF operates around 118 plants nationwide.
- It processes over 440 lakh litres of milk daily.
- Holds 50–70% market share in pouched milk and milk products (CareEdge Ratings).
- Diversified into organic dal, wheat flour, basmati rice, spices, and more, positioning itself as a comprehensive food and beverage company.
GST Cuts and Price Reduction
Following recent GST rate cuts, GCMMF has announced price reductions across 700+ product packs including ghee, butter, paneer, UHT milk, chocolates, bakery items, frozen snacks, and ice cream—all now under 5% GST.
“The reduction in prices will certainly spur consumption, as per-capita consumption of processed food and beverages remains low in India,” Mehta said.
Farmer-Owned Cooperative Power
Owned by 3.6 million farmers, GCMMF reported an 11% year-on-year revenue increase to ₹65,911 crore in FY25. However, analysts highlight that the federation’s reported turnover appears lower than Amul’s overall market presence, since dairies in Valsad, Rajkot, Godhra, Surat, Vadodara, and Anand sell products under the Amul brand independently, with revenues not consolidated into GCMMF’s accounts.
Outlook
With capacity expansion, product diversification, and price reductions, GCMMF is positioning itself strongly to capture demand growth, strengthen Amul’s leadership in the dairy and food sector, and achieve its ₹1 lakh crore turnover target in the next couple of years.
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