Domestic food companies, too, continue to bet on packaged foods.
A leading Brazilian poultry company has also expressed keen interest in joining hands with Kishore Biyani's Future Group to sell their products in the country
From the Sensex pack, IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank and Tata Motors were among the major laggards. HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India and Mahindra & Mahindra were the gainers.
India's leading commodity exchange, National Commodity and Derivatives Exchange (NCDEX), and private weather forecasting company Skymet took a significant step towards launching the country's first tradeable weather index on Monday (August 14) by entering into an agreement to deepen their understanding of the impact that weather has on agricultural commodities. The memorandum of understanding (MoU) between NCDEX and Skymet is a profound step in the direction of linking farmers with the weather in a scientific way, according to an official statement. Sources indicate that NCDEX and Skymet will conduct workshops and seminars across the country to educate farmers about how they can scientifically use weather forecasts to hedge risks.
Maharashtra Chief Minister Eknath Shinde on Wednesday said Memorandums of Understanding worth Rs 1.37 lakh crore have been signed at the World Economic Forum (WEF) annual meeting in Davos in Switzerland and termed it as a "big achievement". This will generate employment for one lakh people, said Shinde, who was in Davos to seek investments in Maharashtra. "The MoUs will not remain just on paper," he said, adding that foreign investors have shown trust and faith in the state government.
After Reliance Industries and the Aditya Birla Group, the Tata Group is poised to become the next big name to feast on the burgeoning food retail sector.
India's pharmaceutical exports to Iran have been hit owing to depleting rupee reserves in the West Asian country because of India stopping the import of crude oil from it in 2019 following US sanctions. Pharmaceutical exports dropped 71.25 per cent in April-August this year over the same period last year. The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) showed exports to Iran had declined 31.29 per cent in 2022-23 as against the previous financial year.
The RBI must first deal with the adverse turn of events in the CPI.
'We are not talking pennies. The milk business is as large as the automobile industry (about Rs 4 trillion in sales),' points out T N Ninan.
Union Food Minister Ram Vilas Paswan said the hospitality industry would be asked whether it can do it "voluntarily" or or needed the government to make legal provisions for it.
This is the Mukesh Ambani-led company's second entry into the dairy segment and it will directly compete with Amul and Mother Dairy.
The hint of saltiness about these delightful cupcakes make them an instant draw.
The government on Monday said job opportunities in the food processing sector in the country have increased by over 35 per cent to 13.4 million in the last five years.
The concern is that the scheme may not take off, like its precursor in the previous five-year plan.
Swiggy is shoring up capital to defend its position as India's largest food-ordering app as rivals Zomato and FoodPanda focus on growth after receiving funds
Through a Freedom of Information Act request, the Show '20/20' obtained lists of recent health violation records from the FDA, the agency in charge of inspecting airlines and their outside food caterers.
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
The wholesale price-based inflation eased for the eighth consecutive month to 4.73 per cent in January on easing prices of manufactured items, fuel and power. The wholesale price-index (WPI) based inflation rate was 4.95 per cent in December 2022 and 13.68 per cent in January 2022. Inflation in food articles, however, rose to 2.38 per cent in January, from (-) 1.25 per cent in December, 2022.
Inflation trajectory does not match the slump in demand, prolonged pause on rates likely.
Agriculture Minister Sharad Pawar on Friday said it will be difficult to decontrol sugar industry as many state governments, including the country's second largest producer Uttar Pradesh, are against freeing this sector.
Actress Irra Mor generously offers a tonne of tips on looking good.
One's dreams never end. If you don't dream, you don't exist. You need to dream to look forward to in life, Radha Daga, who went from a textile exporter to food entrepreneur at 60 years of age, shares her incredible journey with Shobha Warrier.
Given the fact that industrial growth, as measured by the Index of Industrial Production, turned negative provisionally almost for each month after Lehman Brothers collapsed in September last year, even this 1.4 per cent rise in industrial production could be seen as early signs of recovery. The biggest surprise was electricity generation which grew by 7.1 per cent in April against 1.4 per cent a year ago.
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry denied having imposed any blanket ban on the import of food products from Japan even as it has imposed some strict measures.
The court had provided a conditional relief to Nestle India.
Kamal Nath said the meeting identified "some areas of concerns and interest" from both sides impacting two-way trade, like "the issue of setting up titanium plants for the aircraft sector.
Zomato has lost over 9 per cent thus far in calendar year 2023 (CY23) and has underperformed the S&P BSE Sensex that has slipped nearly 5.3 per cent during this period. Despite this underperformance, analysts at HSBC think that the stock can hit Rs 87 going ahead - up over 64 per cent from the current levels. The food delivery industry, wrote Yogesh Aggarwal and Abhishek Pathak of HSBC in a recent note, has slowed considerably in the last few months.
The wholesale price-based inflation declined to a 21-month low of 5.85 per cent in November on easing prices of food, fuel and manufactured items. After remaining in double digits for 19 months, the wholesale price index (WPI) based inflation declined to 8.39 per cent in October. The inflation was 14.87 per cent in November 2021. "Decline in the rate of inflation in November 2022, is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products as compared to the corresponding month of the previous year," the commerce and industry ministry said on Wednesday.
The finance minister said while contribution of primary and fuel items to inflation has declined of late, certain manufacturing items are leading to its rise.
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
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Packed frozen 'paratha' is not 'roti or chapatti' as it requires further cooking before consumption and despite wheat flour being the 'common thread' there are other ingredients used in making parathas, said an order by the Gujarat Appellate Authority for Advance Ruling. Such parathas, whether named Malabar, Mixed vegetable, Onion, Methi, Alu, Laccha, Mooli or Plain, have ingredients like margarine, salt, emulsifying agent, oil, potato, peas, cauliflower, coriander powder, bread improver and water, apart from wheat flour, which make 'quite different' from plain roti or chapatti and hence are not eligible for 5 per cent Goods and Services Tax (GST) rate, the ruling said. The percentage of wheat flour used by Vadilal Industries, which had approached the AAAR, in the eight varieties of paratha manufactured and supplied by it ranges from 36-62 per cent, whereas the ingredient for plain roti or chapatti is wheat flour apart from water.
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
'The Weather Channel argues that India faces the gravest challenge: Climate change-induced health vulnerability.' 'This is an issue often neglected, alerts Claude Arpi: "Prolonged summers, unpredictable rains, floods, droughts, and rising sea levels are the harsh realities of climate change in the country. These factors increase the frequency and severity of illnesses, pushing people into poverty, and forcing migration".'
Following widespread drought and floods in various parts of the country, food inflation climbed to more than a 10-year high of 19.95 per cent in December, driven mainly by higher prices of potato, other vegetables and pulses.
It also promised to launch the 'Poshane' scheme through which every BPL household will be provided with half litre 'Nandini' milk every day and five kg 'Shri Anna - siri dhanya' through monthly ration kits.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
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