New Delhi: On Saturday, US-based FMCG business firm Proctor and Gamble (P&G) declared its foray into the Indian skincare market with the instigation of different products comprising an anti-ageing cream.

The Indian skincare market has been developing at 16 percent every year and is presently valued at Rs 2,100 crore.

Sumeet Vohra, P&G India Marketing Head stated, “With the launch of four new ‘Olay’ brand skincare products, we want to establish a strong presence in the country.”

Mr. Vohra added that the Indian anti-ageing products market was now at Rs. 60 crore. In the last three years, it had doubled and would carry on growing at a faster rapidity.

On the market share the company is looking at in India with the instigation of the novel product.

He added that the anti-ageing products market was still promising in the country, so there was plenteous scope for the company to nurture.

The anti-aging cream Olay Total Effects would be available at 2,000 outlets.