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Swiggy’s Instamart Expands Beyond Grocery with 50,000 SKUs, Targets Festive Windfall; CEO Majety Says Blinkit and Zepto Slowdown Not the Reason for Growth

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Swiggy founder and group CEO Sriharsha Majety has pushed back against the perception that Instamart’s rise in quick commerce is merely a result of rivals slowing down. Speaking to ET, Majety said the platform’s improved market position comes from its sharper consumer insights, wider assortment, and stronger festive preparation, not just weaker competition.

“Capital is not the reason we will win,” Majety said. “It comes down to who understands the consumer better and who has the right assortment.”

Instamart is preparing for its first festive season sale, scheduled for September 19–28, where it will roll out discounts of 50–90 percent across 50,000 non-grocery products. The move comes after a year of rapid category expansion, adding everything from beauty and skincare to home and kitchen essentials alongside its grocery backbone. Revised GST rates are also expected to give the platform an added boost.

Swiggy has guided that Instamart will reach contribution margin breakeven between Q3 FY26 and Q1 FY27. The firm reported a loss of Rs 1,197 crore in April–June, double the figure from a year earlier, as heavy spending in the space continues. Instamart added only 41 new dark stores in the June quarter compared with 316 in the previous quarter, signaling a shift from aggressive expansion to operational efficiency.

Instamart CEO Amitesh Jha, who joined from Flipkart last year, said brands and sellers are seeing “growth they haven’t seen in a decade” on the quick commerce channel. He added that the company has already built capacity to manage festive demand without inflating supply chain costs.

With rivals Blinkit and Zepto also jostling for festive share, Swiggy is betting that Instamart’s consumer-first strategy and broader catalog will help it stand out in India’s most competitive shopping season.

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MRP Chaos After GST Cuts: Finance Ministry Weighs Industry Plea as ₹10,000-Crore FMCG Inventory Faces Input Tax Credit Crunch

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The finance ministry, along with the Department of Consumer Affairs, is reviewing how companies should implement price changes following the sweeping GST rate cuts announced under GST 2.0. Industry bodies have warned that immediate repricing of all products, particularly unsold stocks, poses significant operational and financial challenges.

According to a Business Standard report, the government is considering allowing companies to factor in higher input costs already paid on inventory before mandating revised MRPs. This relief, if cleared, could be available until December 31, giving manufacturers and distributors breathing space to adjust. Officials are also studying how the directive should apply to sachet-based products like shampoos or sauces priced at Re 1 or Rs 5, where repackaging and repricing are virtually impossible. Goods already sold below the post-cut levels due to heavy discounts may also be exempt from further price corrections.

Tax experts point out that while consumers must benefit from lower rates, businesses are facing what they call a “double challenge.” Vivek Jalan, partner at Tax Connect Advisory Services, told the paper: “On one side, input tax credit on unsold stock has gone up, while refunds under the inverted duty structure are not permitted. Some flexibility in repricing will ease the transition burden.”

Separately, the ministry is examining the distortions created by moving several goods from the 12 percent slab to 5 percent without realigning duties on raw materials. This has triggered fresh inverted duty issues in FMCG and packaging sectors.

While the new structure of 5 percent and 18 percent slabs has been welcomed as a simplification, policymakers are now balancing consumer expectations of immediate price cuts with industry concerns over losses on existing stock.

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WeHouse Gets Rs 25 Crore Funding to Reinvent Homebuilding; Investors Include Anthill Ventures, Pinnupreddy Jaya Aditya Reddy, Gaurav Marya

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Hyderabad-based home construction startup WeHouse, formerly known as Hocomoco, has secured Rs 25 crore in Series A funding, a mix of debt and equity. The round saw participation from Anthill Ventures alongside prominent investors such as Pinnupreddy Jaya Aditya Reddy, film producer Suresh Babu Daggubati, Mohnish Yerra of Leaders for India, and Gaurav Marya of Franchise India Holdings.

The company said the fresh capital will be channelled into scaling operations, strengthening its technology stack, and entering new markets. Launches in Coimbatore and Ahmedabad are scheduled this month, adding to its existing footprint in four cities.

Founded in 2017 by Sripad Nandiraj and Rohan Reddy, WeHouse positions itself as a full-stack construction partner, integrating everything from government approvals and architectural design to project execution, interiors, and remote monitoring. According to the company, it has already delivered over 400 projects and currently holds an order book worth Rs 150 crore.

Speaking on the fundraise, CEO Sripad Nandiraj highlighted inefficiencies in India’s homebuilding sector, which is still plagued by delays, cost escalations, and fragmented vendors. “Our model is built on transparency, milestone-linked execution, and real-time visibility for homeowners. This investment gives us the firepower to deepen our technology and reinforce on-ground quality systems as we scale to new cities,” he said.

COO Rohan Reddy added that the company plans to use the funding to expand its workforce, strengthen process efficiencies, and maintain consistent delivery standards across geographies.

With the Indian real estate and home construction sector projected to reach USD 1 trillion by 2030, tech-driven platforms like WeHouse are aiming to formalize and digitize one of the country’s most unorganized markets, promising homeowners more accountability and control in building their dream homes.

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‘Why Wait for Diwali’: Pepperfry Pushes Early Festive Sales With Pan-India Free Shipping, Heavy Discounts and Cashback Bonanza

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Furniture and home décor marketplace Pepperfry has rolled out a nationwide campaign urging Indian households to break the habit of delaying purchases until the Diwali season. The initiative, titled “Why Wait for Diwali”, is designed to spread out the festive shopping rush while giving customers early access to deep discounts and special rewards.

Under the campaign, Pepperfry is offering discounts of up to 70 percent across its furniture and décor categories, including sofas, beds, dining sets, and accessories. Shoppers can also claim 25 percent cashback, free shipping across India, and an additional Rs 20,000 cashback for purchases made through Pepperfry Studios, the company’s offline experience centers.

The campaign leans on humorous and relatable advertising films that capture the frenzy of last-minute Diwali shopping. By portraying the stock-outs, crowded stores, and stressful decision-making associated with festival week buying, Pepperfry positions early shopping as the smarter alternative.

Archana K., head of brand marketing at Pepperfry, said the campaign reflects an effort to shift consumer behaviour. “In India, families have grown up with the idea of waiting for Diwali to upgrade their homes. But waiting also means missing out on choice, dealing with delivery delays, and shopping in a rush. With these offers already live, we want customers to enjoy the celebrations stress-free while giving their homes a head start.”

With over 200 Pepperfry Studios across the country and a strong e-commerce presence, the brand is betting that a mix of digital and offline promotions will help drive early demand. The company expects the campaign to not only reduce peak-season logistical pressure but also reinforce its positioning as a value-driven and customer-first platform for home makeovers.

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Filter Coffee Goes National: Kochi’s Adhira & Appa Coffee to Brew 50 Outlets by March 2026 with Investments Ranging from Rs 15 Lakh to Rs 3 Crore

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Kochi-based filter coffee chain Adhira & Appa Coffee (A&A) has announced an aggressive national rollout, targeting 50 new outlets across India by the end of this financial year. After debuting in Kochi earlier this year, the brand is now preparing to enter Hyderabad and Nashik, with expansion plans stretching across both metropolitan hubs and Tier-2 markets.

The company’s strategy hinges on a multi-format store model, designed to appeal to a wide range of consumers and investors. Investments will vary from Rs 15 lakh for mini kiosks to Rs 30 lakh for express kiosks, while larger formats include Rs 60 lakh flagship stores, Rs 90 lakh signature outlets, and Rs 1–3 crore master franchise models. The flexible rollout is intended to scale quickly while giving franchise partners options aligned with their budgets.

“The response from our Kochi launch exceeded expectations, reaffirming that our blend of heritage recipes, innovation, and local artistry resonates deeply with consumers,” said Karan Mendon, co-founder and COO of A&A Coffee. He added that the brand aims to preserve the authenticity of South Indian filter coffee while modernizing the café experience for younger audiences nationwide.

Founded with a mission to bring traditional filter coffee to the mainstream in a contemporary format, A&A Coffee is positioning itself as an affordable yet aspirational brand. By focusing on compact store formats and Tier-2 city penetration, the company hopes to tap into India’s growing café culture beyond metros.

With its latest announcement, A&A joins the growing list of regional café startups pushing for national scale, competing with both established chains and boutique players. If execution matches ambition, the Kochi startup could emerge as a serious challenger in India’s Rs 25,000 crore café and coffee retail market.

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Amul Clarifies: No ₹3–4 Cut in Pouch Milk, Only UHT Packs to Get Cheaper as GST Slashed from 5% to Nil from Sept 22

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Amul has ruled out any reduction in the price of packaged pouch milk from September 22, clarifying that the product has always been exempt from Goods and Services Tax (GST). The statement comes amid widespread reports suggesting a possible cut of ₹3 to ₹4 per litre following the government’s announcement of the new GST 2.0 framework.

Jayen Mehta, Managing Director of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets Amul, said pouch milk prices remain unchanged as they continue to attract zero GST. “There is no change proposed in prices of fresh pouch milk. It has always been taxed at zero percent. Only long-life UHT milk will see a reduction due to the GST cut,” Mehta told ANI.

The relief will apply exclusively to UHT (Ultra-High Temperature) milk, which previously attracted 5 percent GST. From September 22, it will be fully exempt, making it cheaper for consumers. UHT milk, processed at temperatures above 135°C and packed aseptically, can be stored without refrigeration for several months, making it a convenient option for urban households and institutional buyers.

On September 3, Finance Minister Nirmala Sitharaman announced sweeping tax reforms under the “Next-Gen GST Reform,” aimed at easing the cost of living and spurring economic growth. The 56th GST Council meeting rationalised tax slabs into two tiers—5 percent and 18 percent—by merging the existing 12 percent and 28 percent brackets. The government expects the move to significantly benefit households, farmers, businesses, and the healthcare sector.

For India’s largest dairy cooperative, the clarification is timely. With milk prices closely linked to household budgets and inflation debates, Amul’s statement underscores that while GST 2.0 will bring relief on select products, daily essentials like pouch milk will remain unaffected.

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From Cloud Kitchen to Global Kitchens: Shivani Sharma’s Maison Gourmestan Prepares Millet-Led Expansion into Dubai’s $16.5B Market

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Dubai’s growing appetite for clean and conscious food is set to get a new champion. Shivani Sharma, founder of Maison Gourmestan, is preparing to introduce her millet-focused gourmet brand to the Middle East, beginning with Dubai. Known for her ability to reimagine traditional grains with a global touch, Sharma has already built a strong following in India among celebrity clients and health-conscious urban consumers.

A graduate of Le Cordon Bleu London, Sharma first gained traction with a cloud kitchen before formally launching Maison Gourmestan. Her philosophy has been simple yet powerful: spotlight locally grown ingredients sourced from mindful farmers and elevate them with refined culinary techniques. This approach has made millets, once considered niche, into coveted staples for a new generation of consumers seeking both nutrition and taste.

In Dubai, Maison Gourmestan plans to experiment with multiple formats, including quick-service restaurants, food trucks, and a fresh line of FMCG products. Sharma says the intent is to transform packaged foods by removing the dependence on preservatives and delivering freshness without sacrificing convenience. The brand will debut with a millet batter, followed by a series of new launches designed to position millet-based products as everyday kitchen essentials.

The expansion comes at a time when the UAE’s health and wellness food market is booming. According to Data Bridge Market Research, the segment was valued at USD 16.51 billion in 2024, with a projected CAGR of 11.74 percent through 2032. Globally, the whole millet market is estimated at USD 38.9 billion, while packaged millet foods account for around USD 42 million. Rising demand for nutrient-dense and sustainable foods provides a strong tailwind for Maison Gourmestan’s entry.

“Dubai is ready for a new kind of gourmet that blends indulgence with responsibility,” Sharma said, expressing confidence that her millet-first vision will resonate with Middle Eastern consumers.

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Delhi HC Relief for IndiaMart in Fake Drug Case as Global Pharma Giants Cry Foul Over Unapproved Listings

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The Delhi High Court has temporarily restrained the Central Drugs Standard Control Organisation (CDSCO) from pursuing criminal proceedings against IndiaMart, following allegations that the online marketplace listed unapproved medicines for sale. The matter will now return for hearing on September 17.

Justice Saurabh Banerjee observed that since the case had been heard earlier by another bench, it should be referred back to the same court. “Till then, no action should be taken,” he directed, according to people aware of the proceedings.

The case stems from complaints that IndiaMart hosted listings for drugs such as Crysvita, Oxbryta and Jynneos, which have not been cleared for sale in India. Japanese drugmaker Kyowa Kirin raised concerns about Crysvita, used in rare bone disorders, while the Intelligence Bureau flagged listings of Pfizer’s Oxbryta, a sickle cell disease treatment, and Bavarian Nordic’s Mpox vaccine Jynneos.

IndiaMart argued that it functions only as an intermediary connecting buyers and sellers, and therefore cannot be held liable under the Drugs and Cosmetics Act. Its lawyers cited Section 79 of the Information Technology Act, 2000, which provides “safe harbour” protection to intermediaries provided they act with due diligence and comply with government directives.

Regulators, however, contend that IndiaMart’s processes fall short of due diligence standards. Officials point out that sellers on the platform are not required to mandatorily submit GST or PAN details, making it possible for unverified parties to list products. Despite IndiaMart removing flagged listings, new entries for unapproved medicines reportedly resurface.

The CDSCO, which has intensified crackdowns on spurious drugs in recent years, initiated criminal proceedings after what it described as unsatisfactory responses to its notices. The High Court’s interim relief gives IndiaMart breathing space, but the broader debate on intermediary liability in India’s e-commerce sector is far from settled.

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Delhi Govt Prepares Major Liquor Policy Revamp: Pricing Alignment with Haryana & UP, Vends to Move Out of Residential Areas, Premium Brands Supply on Priority

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The Delhi government is preparing a sweeping overhaul of its excise policy in a bid to plug revenue leakages, improve consumer experience and address long-standing social concerns linked to liquor sales.

A high-level committee headed by Public Works Department minister Parvesh Verma, with industries minister Manjinder Singh Sirsa, home minister Ashish Sood and senior excise officials as members, has begun drafting proposals. The panel is studying models in Haryana and Uttar Pradesh to align Delhi’s liquor pricing with neighbouring states. At present, sharp price disparities encourage thousands of customers to cross borders, draining Delhi’s excise revenues. Officials say narrowing this gap could bring a significant boost to the treasury.

Another core issue is the chronic shortage of premium Indian and international liquor brands in the capital. Retailers and consumers alike have complained of empty shelves and limited availability. The government is considering reforms to ensure steady supplies of high-demand products, positioning Delhi as a more competitive market.

The draft also proposes relocating liquor vends from densely populated residential neighbourhoods to commercial zones. Officials argue that moving shops away from homes will reduce community friction and improve public safety. Parallel to this, the government wants outlets to undergo a facelift. Plans call for cleaner, better-lit stores with organised layouts, replacing the perception of liquor vends as unsafe or unwelcoming.

Currently, four state-run corporations manage all of Delhi’s retail outlets, each earning a flat margin of ₹50 per bottle of hard liquor. While the uniform system ensures stability, officials say it discourages innovation and fails to incentivise better customer service.

The draft excise policy, expected before March 2026, will replace the stop-gap regime extended after the controversial rollback of the 2021-22 framework. Chief Minister Rekha Gupta has directed that the new system balance revenue needs with public health and community safety.

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Saree Market’s Big Leap: RSB Retail, Pothys, Marri and Nalli Silk Ready ₹20,000 Crore IPO Pipeline

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Some of South India’s best-known saree retailers are preparing to tap equity markets, with plans to raise nearly ₹20,000 crore through public offerings over the next six to eight months, according to investment banking executives. The line-up includes RSB Retail India, Marri Retail, Pothys, and legacy brand Nalli Silk Sarees.

Bankers say these IPOs will allow heritage retailers, many of which have operated for decades in metro and tier-1 markets, to monetise brand equity and fund expansion into tier-2 and tier-3 cities where both population and disposable income are on the rise.

RSB Retail has already filed draft papers for a ₹1,500 crore issue, while Marri Retail and Pothys are preparing offerings of ₹2,000 crore and ₹1,200 crore respectively. Nalli Silk Sarees, a household name in Tamil Nadu, is also exploring a market debut. Emails sent to the companies went unanswered.

Funds raised are expected to support expansion of store networks, supply chain investments and a bigger push into e-commerce, as organised players try to capture more share of India’s vast ethnic wear market. Currently, organised retailers account for only about 30 percent of the saree business, leaving room for growth.

Hyderabad-based Sai Silks (Kalamandir) is the only listed saree retailer so far. Since its September 2023 listing, its stock is down 32 percent but has gained 27 percent in the past six months, reflecting renewed investor interest in ethnic wear companies.

Analysts highlight that sarees, with high repeat purchases during festivals and weddings, offer strong margins of 40 to 50 percent and low inventory risk. As Angel One’s Vaqarjaved Khan noted, “Sarees are timeless products with strong cash conversion.”

For retailers rooted in tradition, public markets now present an opportunity to stitch together scale and modern growth.

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