Britannia CEO Rakshit Hargave says the biscuit industry’s low-price structure makes aggressive discounting difficult as Reliance launches 28 products under its Independence brand in Tamil Nadu.
Highlights
- Britannia believes Reliance may struggle to replicate its Campa Cola pricing strategy in biscuits.
- Reliance has entered the biscuit market with 28 SKUs under the Independence brand.
- The initial launch is focused on Tamil Nadu, with plans for nationwide expansion.
- Britannia says ₹5 and ₹10 price points dominate a large part of the biscuit market.
- Reliance’s Campa has already gained double-digit market share in key beverage markets.
- Britannia remains confident in its established brands and competitive strengths.
Reliance May Struggle to Replicate Campa Cola’s Price Disruption in Biscuit Market: Britannia
New Delhi, November 9, 2026: Britannia Industries believes Reliance Industries may find it difficult to replicate the aggressive pricing strategy that helped its Campa Cola brand disrupt India’s soft drinks market, as the Mukesh Ambani-led conglomerate expands into the highly competitive biscuit segment.
Britannia Industries CEO and Managing Director Rakshit Hargave said the pricing dynamics of the biscuit industry are significantly different from those of the cola market, limiting the scope for aggressive discounting.
Reliance Enters Biscuit Market With 28 Products
Earlier this month, Reliance Consumer Products Ltd (RCPL) entered the biscuit segment through its in-house brand Independence.
The company initially launched 28 stock-keeping units (SKUs) in Tamil Nadu, with plans to gradually expand its presence across India.
Speaking during an analyst call on Saturday, Hargave said Britannia was closely studying Reliance’s product portfolio and market-entry strategy.
He noted that Tamil Nadu represents a significant biscuit market for Britannia, making Reliance’s initial expansion particularly important.
Why Biscuit Pricing Is Different From Cola
According to Hargave, a large portion of India’s biscuit market operates at affordable price points of ₹5 and ₹10.
Unlike carbonated beverages, where companies can offer discounts of ₹5 or ₹10 to attract customers, biscuits have limited room for similar price reductions.
This makes it challenging for new entrants to create the same level of price disruption witnessed in the soft drinks industry.
Campa Cola’s Success Highlights Reliance’s Strategy
Reliance entered the beverage industry in August 2022 after acquiring the Campa Cola brand.
Since then, Campa has emerged as a challenger to established players Coca-Cola and PepsiCo, securing double-digit market share in certain key markets.
According to Reliance’s earnings presentation, Campa generated approximately ₹2,900 crore in sales during the first quarter, contributing nearly one-third of RCPL’s revenue.
Reliance is also preparing to introduce Campa beverages in aluminium cans in India by the end of November.
Britannia Confident Despite Rising Competition
Hargave described Reliance as a respectable competitor but expressed confidence in Britannia’s established market position.
He said the company possesses strong competitive advantages and clear growth strategies to defend its market presence.
Reliance’s entry could intensify competition in India’s affordable biscuit segment, where established distribution networks, brand loyalty and competitive pricing play crucial roles.
However, whether Reliance can recreate Campa Cola’s market disruption in biscuits remains to be seen.
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