India, July 24, 2025 – Bikaji Foods International Limited (Bikaji), one of India’s largest ethnic snacks brands, has approved the execution of the Joint Venture cum Shareholders’ Agreement to be entered with Nepal’s leading conglomerate, Chaudhary Group (CG). The joint venture marks Bikaji’s commitment to strengthening its brand presence in the Nepalese food market and a significant milestone in its international growth strategy.
The partnership will focus on manufacturing, trading and marketing Bikaji’s portfolio categories (bhujia, namkeen, papad, packaged sweets and snacks) in Nepal, combining the expertise of both companies to grow the market in Nepal. As per the terms of Agreement, the joint venture company will be equally owned by BFIL and CG Foods (50:50); both parties will infuse capital in one or more tranches to build a state-of-the-art facility in Nepal to ensure that the consumers get to experience premium and authentic ethnic snacks and sweets with minimal turnaround time.
This joint venture unites Bikaji’s legacy in ethnic snacks with Chaudhary Group’s extensive market expertise to elevate Nepal’s overall FMCG landscape. By taking authentic, hygienic and innovative snack products tailored to the local taste buds, the venture reflects Bikaji’s long-term vision of expanding its global presence through sustainable partnerships and local empowerment.
Deepak Agarwal, Managing Director of Bikaji Foods International, remarked, “This joint venture marks a pivotal milestone in Bikaji’s global growth journey and promotes our strong conviction in Nepal’s potential as a key strategic market. With CG Group’s strong market leadership and deep local insights, we are confident in our ability to deliver high-quality, affordable products that resonate with the consumers in Nepal. Beyond commerce, this partnership seeks to create enduring value — empowering communities, fortifying supply chains and enhancing Nepal’s food ecosystem.”
Varun Chaudhary, Director of CG Foods Nepal Limited said, “This collaboration reaffirms our commitment to bringing world-class food innovation to Nepal, while expanding and strengthening our local capabilities. Our joint venture with Bikaji is not just about product excellence — it’s about creating long-term value for Nepal from generating employment to strengthening supply chains, this partnership has the potential to accelerate Nepal’s food sector and set new benchmarks in quality and accessibility. We envision making the rich, diverse flavours of India a seamless part of daily snacking in Nepal.”
The strategic partnership comes at a pivotal moment, with Nepal’s FMCG sector witnessing robust double-digit growth of around 20% annually, according to the Investment Board Nepal. This surge is driven by a growing middle class, rising consumer spending, evolving lifestyles, and the increasing penetration of e-commerce and branded goods. With a population of approximately 30 million, Nepal’s FMCG market is valued at over a billion dollars and continues to expand rapidly. Through this joint venture, Bikaji aims to contribute meaningfully to the transformation and growth of Nepal’s food sector.
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About Bikaji Foods International Limited (BIKAJI: NSE)
Bikaji Foods International is India’s third-largest ethnic snacks company, known for its diverse range of traditional Indian snacks and sweets. Founded in 1993 by Shiv Ratan Agarwal, the company has become a household name, with a presence in 25 Indian states and four union territories. Bikaji also exports to 25 countries, including North America, Europe, the Middle East, Africa, and the Asia Pacific. With an extensive portfolio that includes bhujia, namkeen, packaged sweets, papad, and frozen foods, Bikaji is dedicated to delivering the authentic taste of India to snack enthusiasts across the globe.
About Chaudhary Group (CG):
Founded in Nepal and spanning over 160 companies across 35 countries, Chaudhary Group is the country’s first multinational with a diverse presence in FMCG, hospitality, infrastructure, education, and financial services. Known globally for brands like Wai Wai, CG remains dedicated to inclusive innovation and sustainable progress