Summary:
Ahmedabad-based Ecotrail Personal Care Pvt Ltd, that owns personal care and cosmetics brand - Iba Halal, recently raised Rs 15 crore in the form of equity funding from Bengaluru-based Addvantis Enterprises LLP. Company owners say that being the only halal brand in India, it has an early mover advantage in a market. Brands Guru Chandan Nath said that the with the quality control and compliance that goes into making halal products, the cost of production is significantly higher that non-halal products. The size of the halal market for personal and beauty care products in India has estimated at Rs 11,000 crore, while the global market is estimated at USD 55-60 billion. "The major markets include countries like Indonesia, countries of the middle east and those of former Soviet republics that have a significant Muslim population, who prefer halal products," said Grishma Teli..