Rice producer Best Foods is planning to invest INR750m ($12.2m) in expanding its retail presence to cater to the increasing consumer demand for grains.
The move is said to form a part of the company's strategy to generate around INR50bn ($815.8m) in sales annually over the next three years.
The investment will be used to increase the number of company's retail outlets from 35 to around 500.
Best Foods CEO Aayushman Gupta said: "We are targeting 30 per cent growth this fiscal, and want to double our turnover to about Rs.5,000 crore by 2016-17.
"We believe demand from India will grow faster than international markets and in the future nearly 50 per cent of our revenue will come from the Indian market."
The company currently operates more than 17 rice mills and has the capacity to process around 45,000 tonnes of rice every month.
