DIVERSIFIED FOOD BASKETS
As India develops, problem of high food inflation will get less severe: RBI MPC member Ashima Goyal
Stressing that the share of food in the household budget is high in India, RBI Monetary Policy Committee (MPC) member Ashima Goyal said policy needs to focus on increasing agricultural productivity, since stable agricultural prices are important for non-inflationary growth.
Not in a hurry to add new categories; will focus on grocery: BigBasket CEO Hari Menon
Hari Menon told ET that BigBasket will only diversify into adjacent categories to grocery like kitchen and home appliances. Meanwhile, rivals such as Zomato-owned Blinkit and Mumbai-based Zepto are rapidly diversifying into newer categories.
NITI Aayog working group suggests government re-visit rice and wheat procurement policy at MSP
The 23-member working group on crop husbandry, agriculture inputs, demand and supply, set up by the Aayog in 2022 under PS Birthal, director, ICAR-NIAP, is of the view that the open-ended procurement of rice and wheat at minimum support prices acts as a disincentive for diversification towards high-value and riskier crops.
Innovation in farm practices must to meet food basket demand
The review highlights the importance of continuous innovation, technology adoption, and diversified food baskets in meeting the growing demands. It emphasizes the need for policy consistency to expand market and production choices for farmers. India's agriculture exports reached ₹4.2 lakh crore in FY23, surpassing previous records.
Sunrise food processing sector got Rs 50,000 crore worth FDI in last 9 years, says PM Modi
The prime minister disbursed seed capital assistance to over one lakh Self Help Groups (SHGs) and inaugurated a 'food street' as part of 'World Food India 2023'. The event aims to showcase India as 'food basket of the world' and celebrate 2023 as International Year of Millets. The first edition was held in 2017, but in consecutive years the international event could not be organised due to the COVID-19 pandemic.
Vinit Bolinjkar on why Mahindras are picking stake in RBL
Anand Mahindra's views on RBL Bank's financial sector and risk factors motivated the Mahindra Group to acquire a 3% stake in RBL Bank. The move is less of an investment and more of strategic interest in the company's strong franchise, according to Vinit Bolinjkar, head of equity research for Ventura Securities.
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Pure-veg meat: An export frontier for India to conquer
India's largest shipment of plant-based meat, including jackfruit-based BBQ Jack, has been sent to the US. The shipment is part of India's growing export potential in the plant-based meat industry, which is projected to reach between Rs 2,194 crore to Rs 6,824 crore by 2030. India's advantages in producing plant-based meat include its strong tradition of vegetarian food, a large and growing workforce, low wages, and abundant raw materials.
FDI waters seek their own level
Foreign direct investment (FDI) into India continues on a downward trend, posting its first decline in a decade in the previous financial year. This is on a high base of 2021-22, which saw startup valuations climb to heights that were unsustainable.
Food of the future: The business and economy of super grains
Once known as inferior coarse grains, millets are now known as super grains for the huge health, economic and environmental benefits they offer. The United Nations, the government, fitness experts, startups, FMCG giants and almost everyone who is health conscious is talking of millets.
India's ethanol capacity to jump 25 pc to 1,250 cr litres by year-end: Govt official
There are multiple alternative greener fuels like hydrogen, electric vehicles, and ethanol but blend of these fuels can be the way forward, he added. Speaking at the event, Counselor of Public Diplomacy (Trade and Economic Affairs) at Brazil Embassy in India, Paulo Chiarelli, said: "Brazil has more than 40 years of experience in ethanol production and it is keen to have a knowledge partnership with India."
We are in volatile times, there is real value in being diversified: Arnab Das
In the next few quarters, we still have to deal with the aftermath of the pandemic, the ongoing war and sanctions and the challenges there and if anything, we are in a slowing growth path in the case of Europe, a threat of recession kind of environment with still very high inflation. It may be not accelerating but is still at elevated levels. ”
NITI Aayog enters into agreement with UN WFP to diversify food basket in programmes
Under the statement of intent signed between the Aayog and the United Nations World Food Program (WFP), the focus will be on mainstreaming millets and strengthening of climate resilient agriculture for enhanced food and nutrition security in India, the Aayog said on Tuesday.
India wants to expand its share in global trade, but its exports basket is outdated
For a country that has a contribution of less than 5% in global trade, India’s dreams of achieving a $1-trillion exports target by 2025 mandates a closer look at what we export and what more we should.
Govt-Twitter faceoff escalates over India IT rules
In today's ETtech Morning Dispatch, Twitter and Google break silence on India's IT rules after WhatsApp sues government; the board of BigBasket has cleared the takeover by Tata Group; and Dream Sports' diversification plans.
Bigbasket and iD Fresh Food join hands to launch ready-to-cook brand iD Fresho
This move comes as Azim Premji-backed iD fresh, known for its preservative-free instant foods, looks to widen its D2C market through Bigbasket’s large customer base.
How do you transport milk from Pune to Delhi? Airlift it
Devendra Shah has taken bold bets and in the process churned a success story that straddles the entire dairy sector.
UNGA adopts India-sponsored resolution declaring 2023 as International Year of Millets
"Delighted that Indian sponsored @UN resolution on 'International Year of Millets 2023' was adopted by consensus in #UNGA this morning. Big step to promote nutritional and ecological benefits of #millets to the world as a key component of food basket and effect policy changes," India's Permanent Representative to the UN Ambassador T S Tirumurti tweeted Wednesday.
Should you diversify your investment portfolio via these foreign equity mutual funds?
Over the past few years, international equity funds have clearly proven their utility. As these newer themes seek to carve their own space within a category still finding its feet in India, find out the watchouts and if these funds suit your investing needs.
E-grocers like BigBasket, Grofers , others surge ahead on deliveries
Food-delivery apps Zomato and Swiggy, too, have doubled down on the grocery category since it began seeing an uptick in demand. While Swiggy was already present in the grocery delivery segment, Zomato tied up with Grofers to launch the services.
Will Swiggy's non-food bet deliver right dividends?
Swiggy’s plans were rooted in a tenet integral to building a habit-forming product: acquire users through a core offering, cultivate loyalty, that then leads to higher transactions.
Mahantesh Sabarad on why FIIs are back in Indian market
“Midcaps corrected sharply in last calendar year and offered more opportunities for GEMs to diversify.”
Swiggy drives into on-demand product delivery
Swiggy will be offering products from more than 3,500 stores including 200 prominent brands like Le Marche, Needs Supermarket, Licious, Zappfresh, MomsCo, Apollo and Guardian Pharmacy.
Canada looks to ‘diversify’, bolster India relationship
From health and education to renewable energy and indigenous research in infrastructure, Canada is already engaging with India for fruitful future alliances.
E-commerce players brace for big battle over online pharma
Flipkart, Amazon, BigBasket and Swiggy are all in exploratory talks to acquire, partner or invest in online pharma players.
More unicorns knocking on India Inc’s door
New members from sectors such as software, logistics and financial tech, as number poised to touch 20 this year.
Working on strategy to diversify export basket: Suresh Prabhu
Suresh Prabhu said the ministry is also formulating an agri- export policy, which will be put in public domain soon to seek stakeholders' views.
ITC to expand frontiers with foray into fruits, veggies
S Sivakumar told that ITC was looking to build its Master Chef franchisee with processed, frozen foods, while fresh produce will be sold under a separate brand name.
At Eight Roads, Shadowfax gets its $10m in Series B
Shadowfax has been growing at 12% month-on-month basis and has a fleet of over 2,500 delivery personnel on its platform. The startup raised $8.5 million from Eight Roads Ventures in September 2015. It also counts Snapdeal cofounders Kunal Bahl and Rohit Bansal as angel investors.
Godrej Nature's Basket ties up with Amazon for selling products online
The company said it has listed a wide range of products on Amazon's platform in the first phase and the range will increase exponentially.
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