Indian basmati rice exporter GRM Overseas Limited said that its subsidiary — GRM Foodkraft has signed a memorandum of understanding (MoU) with Spencer’s Retail Limited to place its products in the latter’s stores across India.

The GRM Foodkraft products can be found at 155 stores of Spencer’s Retail under B2C category.

According to the Indian basmati rice exporter, its partnership with Spencer’s Retail will further bolster its footprint and maximize its reach in the domestic market. As a result, the company anticipates driving the top line growth and market share in the future.

Furthermore, GRM Overseas said that this is a major breakthrough as Spencer’s Retail has strict pre-qualification requirements for approval of its suppliers/vendors for buying any products.

The approval from Spencer’s Retail shows the quality, safety standard, and compliance with domestic requirements and regulations, said the basmati rice exporter.

GRM Overseas stated: “GRM’s association with Spencer’s Retail Limited is a testament to Company’s strong customer relationship as well as effective marketing capabilities in domestic as well as export market. Further, GRM strives towards more wins like these with top grocery retailers/chains in the domestic and international markets in future.”

The Indian basmati rice exporter said that it will continue to concentrate on diversifying from private label basmati rice offerings to high margin own brands, specialized and value-added products, and add value via products differentiation.

Earlier this year, GRM Foodkraft had entered into a similar partnership with Reliance Retail (JioMart) to place its products in Reliance stores.

  GRM Foodkraft, GRM Overseas, India, Rice, Spencer’s Retail Limited