A.N. Singh in Calcutta on Tuesday. A Telegraph picture

Calcutta, April 7: Goodricke Group is planning to roll out ready-to-drink products by the end of 2009.

“As part of a diversification process, we will launch ready-to-drink products this year, which will be priced below cold drinks such as Pepsi and Coke,” A.N. Singh, managing director and CEO of Goodricke Group, said on the sidelines of the company’s annual general meeting here today.

The company will first launch tea-based drinks in four flavours, including peach, lemon and orange. “This will be a health drink targeting the youth,” Singh said.

The launch is taking time because of the delay in obtaining a licence from the government. “We have licence for tea plantation and marketing, including exports. To venture into the ready-to-drink segment, we need a separate approval,” the managing director said.

The company may float a special purpose vehicle or a subsidiary to start the new business. “We are yet to decide on these details. However, everything would be under the Goodricke umbrella,” Singh said.

The cold drink market in India is estimated at about Rs 1,000 crore. Tata Tea, the world’s second largest branded tea company, entered the ready-to-drink market in March with the launch of its soft drink TiON. The beverage is available in three flavours — Mango Rush, Peach Punch and Apple Buzz.