Personal care firm Amway India plans to make a $14.5m investment in research and development (R&D), manufacturing and digital initiatives over the next three years.

Amway India CEO Anshu Budhraja was quoted by The Economic Times as saying that the company plans to invest Rs700m ($10.16m) in R&D, Rs100m ($1.45m) in manufacturing and between Rs200m ($2.90m) and Rs300m ($4.35m) in digital initiatives.

The investment plan is said to be part of Amway India’s growth strategy, which has already seen the company establish a $88.7m modern manufacturing facility at Nilakottai, Dindigul, in the Indian state of Tamil Nadu.

“We aim to rank among the top three markets of Amway globally by 2025.”

Aiming to meet increasing product demand, the company plans to double the production capacity of the plant, which is currently between 30% and 35%.

Budhraja was quoted by The Hindu as saying: “We have completed 20 years in India and have grown our operations significantly growing at 20% compound annual growth rate (CAGR).

“We started with six products in 1998 and now we are offering 140 products in the nutrition, beauty, home care, personal care and consumer durables categories. We target a turnover of $873m by 2025.

“We are bullish about the growth story in India and aim to rank among the top three markets of Amway globally by 2025.”

Amway India is also planning to export its products to various markets in southeast Asia, Europe and Africa markets, as well as introduce its herbal beauty and personal care products worldwide.