Indian Oil to Invest in Branded Products Promotion

Indian Oil is planning to invest INR8 billion to set up new retail outlets and upgrade the existing ones; and promote its branded products XtraPremium petrol and XtraMile diesel, The Hindu Business Line has reported quoting the company’s director of marketing G Daga.

While XtraPremium has a market share of 48%, XtraMile has a share of 58%. IOC spends INR350 million on its two branded products every year.

Mr Daga has said that the company wants to cash in on the rising demand for branded fuel to reduce the under recoveries. He said that the demand for branded products was increasing even in rural areas.

The company wants to improve the availability of its products at retail outlets, take up local campaigns and offer incentives to seller networks to make its brands popular.