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The fast moving consumer goods (FMCG) segment in India has witnessed impressive growth in the last few years. While foreign appliances and FMCG majors have made forays into the fast expanding Indian market, quite a number of domestic Indian players too have recorded striking increase in their market share and Nova India Corporation is one of them.
The Lucknow-based Nova India Corporation is one of the leading manufacturers and exporters of kitchen and FMCG appliances in this part of the country. Nova has two major divisions namely the kitchen and home appliances division. Some of the popular products that Nova has in the Indian market include the likes of electric kettle, coffee maker, and blender and induction cooker.
The appliances market in India has become intensely competitive in recent times with many domestic and some of the leading foreign brands too coming up with exciting and innovative products. The growth of nuclear families and rising disposable incomes too has contributed in enhancement of the appliance market in India. And Nova has ensured that its modest background does not hurt its ambitions in becoming a major appliances player in northern India.
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The product profile of Nova indicates a well crafted marketing strategy of making a deliberate venture in the market where not many have a sizeable presence. For instance, while the demands for appliances like the coffee maker or an electric kettle or even an induction cooker is gradually rising, so far the existing appliance players have not gone for them in a big way. And there lies the advantage with Nova who within a small time has cornered a substantial market share in such appliances along with getting deep into the neighboring markets like Nepal, Bangladesh, Afghanistan and Middle East.
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