Indian company gets Rs 3,000 crore from ARBY’s promotion
The Indian Food and Beverage Corporation (IFBC) has raised a whopping Rs 3.7 lakh crore through its advertisement programme, according to a statement by the company.
The IFBC said it was the largest sum of its kind to be raised by an advertisement program in the country’s history.
The company also said the sum would be shared between the IFBC, the Indian Broadcasting Corporation (IBC) and the government.
It said the deal was signed between the two bodies at the IFCS (India Fertilisation and Contraception Society) meeting in Bangalore on Tuesday.
It added that the total value of the deal will be Rs 3 lakh crore, of which the government will provide Rs 3 crore.
This is the first time an Indian company has raised such a large sum through an advertisement programme.
In January this year, the IFRC had announced that it had raised Rs 1.85 lakh crore from advertisement and promotion, which was part of a $100 million fund.
The IFRC also raised Rs 3-4 lakh crore in the 2015-16 fiscal year.
This is part of India’s first commercial advertising program since its inception in 1997.
The agency has also been seeking a share of the funds raised in this new campaign.
It will also be raising funds for the development of new products and services in the region.
In a statement, the IFSBC said the company had secured a $5 million seed round from a group led by Anil Gupta of Infosys and his team in September.
The funding will help it to expand its advertising programme to more states and territories and also expand its presence in the Indian market.
The IFS, the countrys largest food and beverage agency, said it will provide the remaining $5.5 million to help the IBC expand into India, including a new product and service offering.
The deal was also announced by the IFB in an official statement.
The new advertisement programme will also help the IFDC and IBC to grow their businesses in the regions they serve.
The IBC has been working with the IFA and IFCs to develop new marketing programs in the past, such as the ‘Arby’s promotion’ which was launched last year.
IFCS said it is also working with an advertising agency, which it declined to name, to develop the marketing programme.
IFC also said it had set up a fund of $25 million to fund advertising programmes in the next three years.
It is not the first commercial deal to be signed by the Indian Food And Beverage Corp. (IFC).
Earlier this year a similar deal was made with the US Food and Drug Administration (FDA).
This deal comes as the country grapples with a crisis in the poultry sector with a spate of outbreaks of the avian flu, which is believed to have killed more than 50,000 people and left more than 2.5 crore others in need of medical care.
Earlier this year IFC said it would launch a three-year-long ‘Poultry Health Awareness Campaign’ to educate consumers about poultry safety.