Unilever is to buy GlaxoSmithKline's Horlicks nutrition business for $3.8 billion, boosting the Anglo-Dutch group's position in India with the addition of the malted drink.

The deal, announced on Monday, increases the consumer goods giant's footprint in one the world's fastest-growing economies and marks a notable addition to the portfolio by outgoing chief executive Paul Polman, who steps down in January.

Sunil Alagh, founder and chairman, SKA Advisors; Milind Sarwate, founder and CEO, Increate Value Advisors and Girish Vanvari, tax expert.

Milind Sarwate said, “It is a good win-win deal for both HUL and GSK, simply because the reasons for this decision from both sides are different."

GSK is doing it more for reorganising their global strategic portfolio whereas HUL is doing it to add to its India’s presence and build complementarity into its health portfolio, Sarwate said.