Ingredion Incorporated (NYSE: INGR) announced a joint venture with Sanstar Limited, taking a 9% equity stake in the Indian corn-based specialty products manufacturer. The partnership targets growth in pharmaceutical and food ingredient markets in India.

The companies plan to construct a manufacturing facility to produce specialty pharmaceutical and ingredient products for various end-use markets. The venture combines Sanstar's local manufacturing capabilities with Ingredion's formulation expertise.

"India represents an increasingly important growth market for Ingredion," said Jim Zallie, chairman, president and CEO of Ingredion. "Sanstar's sourcing and manufacturing capabilities, combined with Ingredion's formulation and go-to-market expertise, create the opportunity to offer food and pharma customers differentiated offerings."

The partnership will establish a platform for specialty ingredients and solutions across food, beverage, pharmaceutical, home and beauty categories. Ingredion, headquartered near Chicago, reported 2025 annual net sales of approximately $7.2 billion and serves customers in more than 120 countries.

Sanstar Limited operates manufacturing facilities in India and produces starch, glucose, modified starches, dextrose and corn derivatives. The company is listed on BSE (544289) and NSE (SANSTAR) exchanges and serves industries including food and beverage, pharmaceuticals, animal nutrition, paper and textiles.

The information is based on a company press release statement.