Players such as Food Bazaar, Reliance, More and Vishal have already launched their private labels in this category. Names such as Tasty Treat, Disney, Ching's, Smith & Jones from the Future Group stables and Reliance Select from Reliance Retail among others are challenging the market dominance of Maggi in terms of in-store purchases in these retail formats.
Korean conglomerate LG Electronics plans to set up learning and design centres across India. The centre will help employees hone their skills across departments such as industrial design, marketing, lifestyle research, economic and market research among others. The company plans to bring on board specialists in these sectors as faculty for the same.
Breaks self-imposed rule never to return to an office he has occupied in the past.
Having faced sourcing issues for potato in 2008, food and beverage major PepsiCo is planning to ensure supply by introducing farming equipment and technology and new potato seed varieties to decrease chances of crop loss. It also aims to increase the acreage under contract farming by entering new states across the country.
The sector, for long, has been a barometer of economic activity in any country. Demand goes up in a boom as people buy more homes and cars, and businessmen put up more commercial space and factories. Conversely, the demand slumps quickly in a slowdown.
The index of industrial production data released by the government revealed on Friday that the growth in the Rs 32,000 crore (Rs 320 billion) consumer durables was in the negative -- down 3 per cent as against 9 per cent in October 2007. On the other hand, the durables sector had contributed to the industrial output rebound in the months of July (12.3 per cent ) and September (13.1 per cent).
The move also follows on the back of the worldwide slowdown and the company's plans to go slow on establishing new Tag Heuer exclusive boutiques. The company wants to develop high-end luxury accessories for exclusive retailing though the Internet.
It had initially planned to roll-out TAG Heuer phones in the first half of the current year, which it later revised to December 2008. The company now says it will launch the phones by March 2009. TAG Heuer has also revised the starting price of the phone, which was to debut in India for around Rs 2,20,000.
Indeed, where other industries complained of poor demand, festival season sales for consumer electronics grew 30-35 per cent year on year, boosting average growth for the year from 7-8 per cent to 10 per cent. In fact, it was the durable sector which drove industrial growth of 4.8 per cent in September.
According to top sources, the government is all prepared to lower the prices of diesel, petrol and cooking gas after the polling is over for the last phase of Jammu and Kashmir Assembly elections on December 24. As the global crude prices have dipped to $55 per barrel now, petroleum ministry officials say even a Rs 2 to Rs 3 per litre cut in diesel prices would bring down inflation 60 to 70 basis points (100 basis points is equal to one percentage point).
Hindustan Unilever, GlaxoSmithkline Consumer Healthcare, Godrej Consumer Products, Dabur, Nestle and other FMCG companies are lining up initiatives to maximise returns from modern trade channels including hypermarkets and supermarkets.
Prime Minister Manmohan Singh might have succeeded in saving a few thousand jobs in corporate India when he met industry captains last week, Jet Airways may well have retained its 1,900 employees, but here in the hinterland of Uttar Pradesh -- famed as the carpet hub of India -- the poor are being retrenched in thousands.
General elections are likely to be held in April next year, which has been emerging as the most acceptable option in the Congress camp as the party and its United Progressive Alliance government are apprehensive about the ripple effects of the global economic slowdown on India and want time to enable this to abate.
Within months of charging the moon, Indian real estate firms are now offering buy-back of properties, free cars and even free apartments to tide over the current slump which has seen sales halve from the beginning of the year.
After the Centre's announcement that Maharashtra will get a French-built nuclear power plant, West Bengal could be the next in line for this central gift. But there is a problem: The plant is likely to be American-built. So, the Left-ruled government in the state is thinking if it wants to give land for a reactor built by the Americans.
The Boston Analytics Consumer Sentiment Index for August fell below the benchmark value of 100 since its inception, signalling a low-key festive season ahead.
Mature markets globally have either become saturated or have slowed down. The emerging markets have therefore become strategically important for these companies. The contribution of Indian operations to the global sales of these multinational behemoths is still small -- 1.5 to 3 per cent -- but this share is bound to grow given the buoyancy in the Indian market.
In a bid to tap the growing demand for premium international spirits in India, global spirits major Bacardi Martini plans to introduce more brands from its international portfolio. Bacardi Martini India is a 76:24 joint venture between the global major and Indian firm Gemini Distilleries.
According to party sources, the situation is more or less beyond repair. "We can forcibly remove Mamata Banerjee's agitators from Singur within a few hours. But it seems the Tatas have developed cold feet. After whatever has happened over the last few weeks, it is almost impossible to convince the Tatas to stay back in Bengal and restart the Nano project," said a central committee leader of the party.
Speaking at a rally at Dadri in Uttar Pradesh on Tuesday, Sonia Gandhi said her party was not against land acquisition for industry. "But farmers should be given adequate compensation. They should also be given stakes in the projects coming up on their land," she said.
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