ClayCo Cosmetics raises $2 Million in Series A funding led by Unilever Ventures

October 2, 2024

Mumbai-based skincare brand ClayCo Cosmetics has secured $2 Mn (INR 16 Cr) in its Series A funding round led by Unilever Ventures.

The͏͏ company͏͏ intends͏͏ to͏͏ utilise͏͏ the͏͏ new͏͏ capital͏͏ to͏͏ enhance͏͏ its͏͏ branding͏͏ and͏͏ broaden͏͏ its͏͏ product͏͏ portfolio.

Founded͏͏ in͏͏ March͏͏ this͏͏ year͏͏ by͏͏ Niharika Jhunjhunwala,͏͏ ClayCo͏͏ Cosmetics͏͏ is͏͏ a͏͏ premium͏͏ skincare͏͏ brand͏͏ that͏͏ seamlessly͏͏ blends͏͏ ancient͏͏ beauty͏͏ rituals͏͏ with͏͏ modern͏͏ science.

Founder͏͏ Outlines͏͏ Growth͏͏ Plans͏͏ for͏͏ ClayCo Cosmetics:

“This͏͏ funding͏͏ will͏͏ allow͏͏ us͏͏ to͏͏ boost͏͏ brand͏͏ awareness,͏͏ launch͏͏ new͏͏ products,͏͏ invest͏͏ in͏͏ R&D,͏͏ and͏͏ drive͏͏ our͏͏ growth.͏͏ With͏͏ consumers͏͏ increasingly͏͏ recognising͏͏ global͏͏ ingredients͏͏ like͏͏ fermented͏͏ rice,͏͏ ginseng,͏͏ and͏͏ Cica͏͏ (Centella͏͏ asiatica),͏͏ they͏͏ are͏͏ more͏͏ inclined͏͏ to͏͏ invest͏͏ in͏͏ high-quality,͏͏ effective͏͏ skincare,”͏͏ said͏͏ Jhunjhunwala.

Continue͏͏ Exploring:͏͏ SkinInspired͏͏ raises͏͏ INR͏͏ 12.2͏͏ Cr͏͏ seed͏͏ funding͏͏ to͏͏ redefine͏͏ skincare

Growth͏͏ Potential͏͏ in͏͏ the͏͏ BPC͏͏ Market:

This͏͏ development͏͏ comes͏͏ as͏͏ the͏͏ Indian͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ (BPC)͏͏ market͏͏ is͏͏ experiencing͏͏ rapid͏͏ growth.͏͏ According͏͏ to͏͏ a͏͏ report,͏͏ the͏͏ BPC͏͏ market͏͏ is͏͏ expected͏͏ to͏͏ reach͏͏ $28͏͏ Bn͏͏ by͏͏ 2030,͏͏ accounting͏͏ for͏͏ 7%͏͏ of͏͏ the͏͏ overall͏͏ ecommerce͏͏ market.

The͏͏ sector͏͏ has͏͏ attracted͏͏ over͏͏ $1͏͏ Bn͏͏ in͏͏ funding͏͏ from͏͏ 2014͏͏ to͏͏ H1͏͏ 2024,͏͏ driven͏͏ by͏͏ high͏͏ margins͏͏ and͏͏ innovative͏͏ product͏͏ offerings.

This͏͏ year,͏͏ the͏͏ BPC͏͏ sector͏͏ witnessed͏͏ investments͏͏ such͏͏ as͏͏ Pilgrim͏͏ raising͏͏ $9͏͏ Mn͏͏ in͏͏ August͏͏ 2024,͏͏ with͏͏ funding͏͏ led͏͏ by͏͏ Fireside͏͏ Ventures͏͏ and͏͏ Vertex͏͏ Ventures.

In͏͏ June,͏͏ Foxtale͏͏ secured͏͏ $18͏͏ Mn͏͏ in͏͏ Series͏͏ B͏͏ funding,͏͏ led͏͏ by͏͏ Panthera͏͏ Growth͏͏ Partners.͏͏ Additionally,͏͏ Conscious͏͏ Chemist͏͏ raised͏͏ $1.4͏͏ Mn͏͏ from͏͏ Atomic͏͏ Capital͏͏ this͏͏ month.

Continue͏͏ Exploring:͏͏ Skincare brand͏͏ Asaya͏͏ raises͏͏ $1.5M͏͏ in͏͏ seed͏͏ funding͏͏ led͏͏ by͏͏ OTP͏͏ Ventures͏͏ and͏͏ Huddle͏͏ Ventures

Agritech startup WayCool raises INR 100 Cr in debt funding from Grand Anicut

M Haziq Pandit

October 1, 2024

Karthik Jayaraman and Sanjay Dasari, Co-Founders, WayCool Foods

Chennai-based agritech startup WayCool has raised INR 100 crore ($11.9 million) in debt funding from Grand Anicut.

Details͏͏ of͏͏ the͏͏ Capital͏͏ Infusion:

The͏͏ board͏͏ has͏͏ approved͏͏ a͏͏ capital͏͏ infusion͏͏ of͏͏ INR͏͏ 100͏͏ crore͏͏ through͏͏ 1,000͏͏ Series͏͏ B6͏͏ debentures,͏͏ each͏͏ priced͏͏ at͏͏ INR͏͏ 10͏͏ lakh.͏͏ According͏͏ to͏͏ WayCool’s͏͏ RoC͏͏ filing,͏͏ these͏͏ debentures͏͏ carry͏͏ a͏͏ coupon͏͏ rate͏͏ of͏͏ 18%͏͏ per͏͏ annum͏͏ and͏͏ have͏͏ a͏͏ maturity͏͏ period͏͏ of͏͏ 18͏͏ months.

Utilisation͏͏ of͏͏ Funds:

WayCool͏͏ plans͏͏ to͏͏ utilise͏͏ the͏͏ new͏͏ capital͏͏ to͏͏ refinance͏͏ its͏͏ existing͏͏ borrowings͏͏ and͏͏ support͏͏ working͏͏ capital͏͏ needs.

Founded͏͏ in͏͏ 2015͏͏ by͏͏ Karthik͏͏ Jayaraman͏͏ and͏͏ Sanjay͏͏ Dasari,͏͏ WayCool͏͏ markets͏͏ food͏͏ products͏͏ under͏͏ seven͏͏ distinct͏͏ labels͏͏ and͏͏ provides͏͏ supply͏͏ chain͏͏ solutions.

This͏͏ comes͏͏ at͏͏ a͏͏ time͏͏ when͏͏ the͏͏ company͏͏ is͏͏ facing͏͏ challenges͏͏ in͏͏ raising͏͏ new͏͏ capital.

Workforce͏͏ Restructuring:

From͏͏ January͏͏ to͏͏ July͏͏ this͏͏ year,͏͏ WayCool͏͏ laid͏͏ off͏͏ 270͏͏ employees͏͏ as͏͏ part͏͏ of͏͏ its͏͏ initiative͏͏ to͏͏ streamline͏͏ operations͏͏ and͏͏ reduce͏͏ losses.

Additionally,͏͏ last͏͏ year,͏͏ the͏͏ company͏͏ reportedly͏͏ terminated͏͏ around͏͏ 300͏͏ employees.

Continue͏͏ Exploring:͏͏ WayCool Foods implements͏͏ second͏͏ wave͏͏ of͏͏ layoffs,͏͏ 70͏͏ employees͏͏ affected

Financial͏͏ Performance:

Notably,͏͏ the͏͏ agritech͏͏ startup͏͏ has͏͏ been͏͏ reporting͏͏ losses͏͏ lately,͏͏ with͏͏ its͏͏ net͏͏ losses͏͏ rising͏͏ by͏͏ 88.7%͏͏ to͏͏ INR͏͏ 685͏͏ crore͏͏ in͏͏ FY23,͏͏ up͏͏ from͏͏ INR͏͏ 363͏͏ crore͏͏ in͏͏ FY22.

In͏͏ FY23,͏͏ the͏͏ company’s͏͏ revenue͏͏ from͏͏ operations͏͏ reached͏͏ INR͏͏ 1,251͏͏ crore,͏͏ a͏͏ 62%͏͏ increase͏͏ from͏͏ INR͏͏ 772.3͏͏ crore͏͏ in͏͏ FY22.

Continue͏͏ Exploring:͏͏ WayCool Foods reports͏͏ 62%͏͏ revenue͏͏ growth͏͏ to͏͏ INR͏͏ 1,251͏͏ Cr͏͏ for͏͏ FY23;͏͏ net͏͏ loss͏͏ rises͏͏ 89%͏͏ to͏͏ INR͏͏ 685͏͏ Cr

To͏͏ date,͏͏ the͏͏ agritech͏͏ startup͏͏ has͏͏ raised͏͏ approximately͏͏ $300͏͏ million͏͏ and͏͏ counts͏͏ investors͏͏ such͏͏ as͏͏ Lightrock,͏͏ Lightbox,͏͏ Lightsmith,͏͏ 57͏͏ Stars,͏͏ and͏͏ FMO͏͏ among͏͏ its͏͏ backers.

WayCool͏͏ launched͏͏ its͏͏ FMCG͏͏ entity,͏͏ BrandsNext,͏͏ last͏͏ year,͏͏ which͏͏ includes͏͏ brands͏͏ like͏͏ Madhuram,͏͏ KITCHENji,͏͏ DeziFresh,͏͏ and͏͏ Freshey’s.

Continue͏͏ Exploring:͏͏ Agritech firm͏͏ WayCool sets͏͏ up͏͏ FMCG͏͏ arm͏͏ ‘BrandsNext’,͏͏ names͏͏ BP͏͏ Ravindran͏͏ as͏͏ CEO

Last͏͏ year,͏͏ it͏͏ was͏͏ reported͏͏ that͏͏ the͏͏ agritech͏͏ startup͏͏ was͏͏ in͏͏ talks͏͏ to͏͏ raise͏͏ approximately͏͏ $50–70͏͏ million͏͏ at͏͏ a͏͏ valuation͏͏ of͏͏ around͏͏ $900͏͏ million.͏͏ However,͏͏ it͏͏ was͏͏ unable͏͏ to͏͏ close͏͏ this͏͏ round͏͏ due͏͏ to͏͏ the͏͏ ongoing͏͏ funding͏͏ winter.

Invesco raises Swiggy valuation by nearly 25% to $13.3 Bn ahead of IPO

M Haziq Pandit

October 1, 2024

US-based asset manager Invesco has raised the valuation of foodtech giant Swiggy to $13.3 billion,,͏͏ reflecting͏͏ a͏͏ nearly͏͏ 25%͏͏ jump͏͏ from͏͏ the͏͏ investor’s͏͏ last͏͏ fair͏͏ value͏͏ assessment.

Invesco’s͏͏ Previous͏͏ Investment͏͏ in͏͏ Swiggy:

Invesco͏͏ had͏͏ invested͏͏ in͏͏ Swiggy’s͏͏ $700͏͏ million͏͏ funding͏͏ round͏͏ in͏͏ January͏͏ last͏͏ year,͏͏ which͏͏ valued͏͏ the͏͏ company͏͏ at͏͏ $10.7͏͏ billion.͏͏ During͏͏ this͏͏ round,͏͏ the͏͏ investor͏͏ allocated͏͏ $190.47͏͏ million͏͏ for͏͏ a͏͏ stake͏͏ in͏͏ the͏͏ IPO-bound͏͏ firm.

As͏͏ of͏͏ July͏͏ 2024,͏͏ Invesco’s͏͏ Developing͏͏ Markets͏͏ Fund͏͏ estimates͏͏ the͏͏ value͏͏ of͏͏ its͏͏ stake͏͏ in͏͏ the͏͏ foodtech͏͏ decacorn͏͏ at͏͏ approximately͏͏ $219.25͏͏ million.͏͏ The͏͏ asset͏͏ manager͏͏ owns͏͏ 28,844͏͏ shares͏͏ of͏͏ Swiggy,͏͏ as͏͏ reported͏͏ by͏͏ TechCrunch.

This͏͏ isn’t͏͏ the͏͏ first͏͏ instance͏͏ of͏͏ Invesco͏͏ adjusting͏͏ its͏͏ valuation͏͏ of͏͏ Swiggy.͏͏ In͏͏ July͏͏ last͏͏ year,͏͏ the͏͏ asset͏͏ manager͏͏ lowered͏͏ the͏͏ valuation͏͏ of͏͏ the͏͏ Bengaluru-based͏͏ startup͏͏ to͏͏ $5.5͏͏ billion͏͏ amid͏͏ a͏͏ downturn͏͏ in͏͏ the͏͏ food͏͏ delivery͏͏ market.

Continue͏͏ Exploring:͏͏ Invesco marks͏͏ down͏͏ valuations͏͏ of͏͏ IPO-bound͏͏ Swiggy and͏͏ Pine͏͏ Labs

At͏͏ the͏͏ end͏͏ of͏͏ April͏͏ this͏͏ year,͏͏ Swiggy͏͏ was͏͏ valued͏͏ at͏͏ approximately͏͏ $12.3͏͏ billion.

Swiggy’s͏͏ IPO͏͏ Plans͏͏ and͏͏ Target͏͏ Valuation:

Invesco’s͏͏ increase͏͏ in͏͏ Swiggy’s͏͏ valuation͏͏ coincides͏͏ with͏͏ the͏͏ foodtech͏͏ giant’s͏͏ plans͏͏ to͏͏ go͏͏ public.͏͏ Earlier͏͏ this͏͏ month,͏͏ Swiggy͏͏ submitted͏͏ an͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ to͏͏ market͏͏ regulator͏͏ SEBI,͏͏ seeking͏͏ to͏͏ raise͏͏ over͏͏ INR͏͏ 3,750͏͏ crore͏͏ through͏͏ its͏͏ initial͏͏ public͏͏ offering͏͏ (IPO).

Swiggy͏͏ is͏͏ targeting͏͏ a͏͏ valuation͏͏ of͏͏ $15͏͏ billion͏͏ for͏͏ its͏͏ IPO.͏͏ In͏͏ contrast,͏͏ its͏͏ main͏͏ competitor͏͏ Zomato͏͏ was͏͏ valued͏͏ at͏͏ around͏͏ $7͏͏ billion͏͏ during͏͏ its͏͏ IPO͏͏ in͏͏ 2021͏͏ and͏͏ debuted͏͏ with͏͏ a͏͏ valuation͏͏ of͏͏ $12͏͏ billion.

Zomato’s͏͏ market͏͏ cap͏͏ has͏͏ significantly͏͏ increased͏͏ and͏͏ currently͏͏ stands͏͏ at͏͏ INR͏͏ 2.42͏͏ lakh͏͏ crore͏͏ (approximately͏͏ $28.9͏͏ billion).

Recently,͏͏ brokerage͏͏ firm͏͏ Elara͏͏ Capital͏͏ noted͏͏ that͏͏ Swiggy͏͏ is͏͏ expected͏͏ to͏͏ command͏͏ a͏͏ lower͏͏ valuation͏͏ in͏͏ the͏͏ public͏͏ market͏͏ compared͏͏ to͏͏ Zomato,͏͏ as͏͏ it͏͏ continues͏͏ to͏͏ lag͏͏ behind͏͏ the͏͏ Deepinder͏͏ Goyal-led͏͏ startup͏͏ in͏͏ several͏͏ key͏͏ metrics,͏͏ including͏͏ revenue,͏͏ gross͏͏ order͏͏ volume,͏͏ and͏͏ order͏͏ count.

Investor͏͏ Interest:

However,͏͏ investors͏͏ have͏͏ been͏͏ lining͏͏ up͏͏ to͏͏ acquire͏͏ unlisted͏͏ shares͏͏ of͏͏ Swiggy͏͏ ahead͏͏ of͏͏ its͏͏ highly͏͏ anticipated͏͏ IPO,͏͏ reflecting͏͏ a͏͏ growing͏͏ demand͏͏ for͏͏ the͏͏ stock͏͏ amid͏͏ a͏͏ bull͏͏ run͏͏ in͏͏ the͏͏ Indian͏͏ equities͏͏ market.

Renowned͏͏ Indian͏͏ cricketers͏͏ Rahul͏͏ Dravid͏͏ and͏͏ Zaheer͏͏ Khan,͏͏ along͏͏ with͏͏ celebrities͏͏ such͏͏ as͏͏ Madhuri͏͏ Dixit͏͏ and͏͏ Amitabh͏͏ Bachchan,͏͏ have͏͏ recently͏͏ acquired͏͏ a͏͏ stake͏͏ in͏͏ Swiggy.

Continue͏͏ Exploring:͏͏ Swiggy attracts͏͏ celebrity͏͏ investors:͏͏ Rahul͏͏ Dravid,͏͏ Karan͏͏ Johar͏͏ &͏͏ others͏͏ invest͏͏ in͏͏ pre-IPO͏͏ round

Financial͏͏ Performance:

According͏͏ to͏͏ its͏͏ DRHP,͏͏ Swiggy’s͏͏ consolidated͏͏ net͏͏ loss͏͏ increased͏͏ by͏͏ over͏͏ 8%͏͏ to͏͏ INR͏͏ 611͏͏ crore͏͏ in͏͏ the͏͏ June͏͏ quarter͏͏ of͏͏ the͏͏ financial͏͏ year͏͏ 2024-25͏͏ (Q1͏͏ FY25),͏͏ up͏͏ from͏͏ INR͏͏ 564.08͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year,͏͏ due͏͏ to͏͏ a͏͏ rise͏͏ in͏͏ operating͏͏ costs.

However,͏͏ Swiggy’s͏͏ revenue͏͏ from͏͏ operations͏͏ surged͏͏ 35%͏͏ to͏͏ INR͏͏ 3,222.2͏͏ crore͏͏ during͏͏ the͏͏ quarter͏͏ under͏͏ review,͏͏ up͏͏ from͏͏ INR͏͏ 2,389.8͏͏ crore,͏͏ driven͏͏ by͏͏ robust͏͏ growth͏͏ in͏͏ its͏͏ food͏͏ delivery͏͏ and͏͏ quick͏͏ commerce͏͏ sectors.

Tata Soulfull launches millet-based Corn Flakes+ for health-conscious consumers

M Haziq Pandit

October 1, 2024

Tata Soulfull, a well-known brand of Tata Consumer Products recognised for its nutritious snacks and breakfast cereals, has launched its latest offering: Tata Soulfull Corn Flakes+..͏͏ This͏͏ innovative͏͏ millet-based͏͏ product͏͏ comes͏͏ in͏͏ two͏͏ delectable͏͏ variants—Original͏͏ (available͏͏ in͏͏ 475g͏͏ and͏͏ 260g͏͏ sizes)͏͏ and͏͏ Honey͏͏ Almond͏͏ (offered͏͏ in͏͏ 450g͏͏ and͏͏ 170g͏͏ sizes)—tailored͏͏ to͏͏ suit͏͏ Indian͏͏ preferences.

Addressing͏͏ the͏͏ market͏͏ need͏͏ for͏͏ high-fiber͏͏ cornflakes,͏͏ Tata͏͏ Soulfull’s͏͏ Corn͏͏ Flakes+͏͏ blends͏͏ corn͏͏ with͏͏ jowar,͏͏ providing͏͏ a͏͏ nutritious͏͏ boost͏͏ in͏͏ every͏͏ bite.͏͏ This͏͏ combination͏͏ increases͏͏ the͏͏ cereal’s͏͏ fiber͏͏ content͏͏ while͏͏ being͏͏ cholesterol-free,͏͏ making͏͏ it͏͏ an͏͏ excellent͏͏ choice͏͏ for͏͏ health-conscious͏͏ consumers͏͏ in͏͏ search͏͏ of͏͏ a͏͏ wholesome͏͏ breakfast͏͏ option.

Crunchy͏͏ and͏͏ Convenient:

Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ offers͏͏ a͏͏ refreshing͏͏ take͏͏ on͏͏ breakfast͏͏ and͏͏ snacking͏͏ by͏͏ combining͏͏ delicious͏͏ taste͏͏ with͏͏ nutritious͏͏ ingredients.͏͏ A͏͏ key͏͏ highlight͏͏ is͏͏ its͏͏ ability͏͏ to͏͏ retain͏͏ crunchiness,͏͏ even͏͏ when͏͏ paired͏͏ with͏͏ warm͏͏ milk,͏͏ making͏͏ it͏͏ a͏͏ convenient͏͏ option͏͏ for͏͏ busy͏͏ families͏͏ seeking͏͏ healthier͏͏ meal͏͏ choices.͏͏ This͏͏ product͏͏ aligns͏͏ with͏͏ Tata͏͏ Soulfull’s͏͏ broader͏͏ mission͏͏ to͏͏ incorporate͏͏ millets͏͏ into͏͏ daily͏͏ diets͏͏ through͏͏ modern,͏͏ accessible͏͏ formats.

Continue͏͏ Exploring:͏͏ Tata Soulfull unveils͏͏ Masala͏͏ Muesli͏͏ with͏͏ bold͏͏ Indian͏͏ flavours

Rasika͏͏ Prashant,͏͏ Chief͏͏ Marketing͏͏ Officer͏͏ of͏͏ Soulfull,͏͏ stated,͏͏ “At͏͏ Tata͏͏ Soulfull,͏͏ we͏͏ are͏͏ dedicated͏͏ to͏͏ recognising͏͏ unmet͏͏ needs͏͏ in͏͏ the͏͏ wholesome͏͏ snacking͏͏ and͏͏ breakfast͏͏ segments.͏͏ As͏͏ consumer͏͏ preferences͏͏ evolve͏͏ and͏͏ awareness͏͏ of͏͏ health͏͏ and͏͏ wellness͏͏ increases,͏͏ it͏͏ is͏͏ essential͏͏ for͏͏ us͏͏ to͏͏ address͏͏ these͏͏ gaps͏͏ with͏͏ innovative͏͏ solutions.͏͏ The͏͏ launch͏͏ of͏͏ Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ marks͏͏ a͏͏ significant͏͏ step͏͏ in͏͏ this͏͏ journey,͏͏ responding͏͏ to͏͏ the͏͏ clear͏͏ demand͏͏ for͏͏ a͏͏ high-fiber,͏͏ wholesome͏͏ breakfast͏͏ option.͏͏ We͏͏ are͏͏ excited͏͏ to͏͏ see͏͏ how͏͏ Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ enhances͏͏ breakfast͏͏ tables͏͏ across͏͏ the͏͏ country.”

Expanding͏͏ the͏͏ Millet Portfolio:

This͏͏ latest͏͏ addition͏͏ enhances͏͏ Tata͏͏ Soulfull’s͏͏ growing͏͏ portfolio͏͏ of͏͏ millet-based͏͏ products,͏͏ which͏͏ features͏͏ Millet͏͏ Muesli,͏͏ Ragi͏͏ Bites,͏͏ and͏͏ Masala͏͏ Oats+.͏͏ Each͏͏ of͏͏ these͏͏ offerings͏͏ showcases͏͏ the͏͏ brand’s͏͏ commitment͏͏ to͏͏ promoting͏͏ the͏͏ advantages͏͏ of͏͏ millets,͏͏ incorporating͏͏ traditional͏͏ grains͏͏ such͏͏ as͏͏ ragi,͏͏ jowar,͏͏ and͏͏ bajra͏͏ into͏͏ modern͏͏ diets͏͏ through͏͏ convenient͏͏ and͏͏ contemporary͏͏ food͏͏ formats.

Supporting͏͏ ‘Desh͏͏ ke͏͏ Millets’͏͏ Initiative:

With͏͏ the͏͏ launch͏͏ of͏͏ Corn͏͏ Flakes+,͏͏ Tata͏͏ Soulfull͏͏ reaffirms͏͏ its͏͏ commitment͏͏ to͏͏ the͏͏ ‘Desh͏͏ ke͏͏ Millets’͏͏ initiative,͏͏ a͏͏ movement͏͏ focused͏͏ on͏͏ making͏͏ traditional͏͏ grains͏͏ accessible͏͏ to͏͏ every͏͏ Indian͏͏ household.͏͏ As͏͏ the͏͏ brand͏͏ continues͏͏ to͏͏ innovate,͏͏ it͏͏ remains͏͏ dedicated͏͏ to͏͏ expanding͏͏ its͏͏ range͏͏ of͏͏ millet-based͏͏ products͏͏ to͏͏ meet͏͏ the͏͏ needs͏͏ of͏͏ today’s͏͏ health-conscious͏͏ consumers.

The͏͏ launch͏͏ of͏͏ Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ reinforces͏͏ the͏͏ brand’s͏͏ reputation͏͏ for͏͏ innovation͏͏ in͏͏ the͏͏ food͏͏ industry.͏͏ As͏͏ health͏͏ and͏͏ wellness͏͏ become͏͏ top͏͏ priorities͏͏ for͏͏ consumers,͏͏ Tata͏͏ Soulfull͏͏ remains͏͏ at͏͏ the͏͏ forefront͏͏ with͏͏ products͏͏ that͏͏ balance͏͏ taste͏͏ and͏͏ nutrition,͏͏ highlighting͏͏ the͏͏ versatility͏͏ and͏͏ benefits͏͏ of͏͏ millets.

Continue͏͏ Exploring:͏͏ Marico͏͏ expands͏͏ Saffola͏͏ range͏͏ with͏͏ launch͏͏ of͏͏ Masala͏͏ Millets in͏͏ two͏͏ flavours

Andhra Pradesh unveils new liquor policy, expected to generate INR 5,500 Cr in revenue

M Haziq Pandit

October 1, 2024

The Andhra Pradesh government announced a new liquor policy on Tuesday, permitting private retailers to sell spirits similarly to Haryana and other states, with expectations of generating INR 5,500 crore in revenue.

Complete͏͏ Overhaul͏͏ of͏͏ Excise͏͏ Policy:

In͏͏ a͏͏ complete͏͏ revamp͏͏ of͏͏ its͏͏ excise͏͏ policy,͏͏ drawing͏͏ on͏͏ best͏͏ practices͏͏ from͏͏ other͏͏ states,͏͏ the͏͏ government͏͏ has͏͏ opted͏͏ for͏͏ the͏͏ privatisation͏͏ of͏͏ liquor͏͏ retail,͏͏ with͏͏ 3,736͏͏ retail͏͏ shops͏͏ approved͏͏ throughout͏͏ the͏͏ state.͏͏ The͏͏ new͏͏ policy͏͏ is͏͏ set͏͏ to͏͏ take͏͏ effect͏͏ on͏͏ October͏͏ 12,͏͏ 2024,͏͏ according͏͏ to͏͏ the͏͏ government͏͏ notification.

Continue͏͏ Exploring:͏͏ Andhra Pradesh to͏͏ unveil͏͏ new͏͏ liquor policy focusing͏͏ on͏͏ quality͏͏ and͏͏ premium͏͏ outlets

Affordable͏͏ Options͏͏ for͏͏ Low-Income͏͏ Groups:

Through͏͏ this͏͏ policy,͏͏ the͏͏ government͏͏ aims͏͏ to͏͏ offer͏͏ affordable͏͏ options͏͏ for͏͏ low-income͏͏ groups.͏͏ The͏͏ Andhra͏͏ Pradesh͏͏ government͏͏ has͏͏ introduced͏͏ low-priced͏͏ liquor͏͏ at͏͏ INR͏͏ 99͏͏ or͏͏ less͏͏ to͏͏ reduce͏͏ the͏͏ demand͏͏ for͏͏ illicit͏͏ alcohol,͏͏ while͏͏ also͏͏ encouraging͏͏ national͏͏ suppliers͏͏ to͏͏ launch͏͏ their͏͏ brands͏͏ at͏͏ this͏͏ price͏͏ point.

Aiming͏͏ to͏͏ Boost͏͏ Sales:

The͏͏ new͏͏ liquor͏͏ policy͏͏ is͏͏ anticipated͏͏ to͏͏ reverse͏͏ the͏͏ sales͏͏ decline͏͏ experienced͏͏ over͏͏ the͏͏ past͏͏ five͏͏ years,͏͏ positioning͏͏ the͏͏ state͏͏ among͏͏ the͏͏ top͏͏ three͏͏ markets,͏͏ according͏͏ to͏͏ companies͏͏ and͏͏ analysts.

The͏͏ policy͏͏ will͏͏ be͏͏ in͏͏ effect͏͏ for͏͏ two͏͏ years,͏͏ fostering͏͏ stability͏͏ and͏͏ predictability͏͏ in͏͏ the͏͏ regulatory͏͏ environment,͏͏ which͏͏ is͏͏ expected͏͏ to͏͏ boost͏͏ participation͏͏ from͏͏ retailers.

Andhra͏͏ Pradesh’s͏͏ liquor͏͏ market͏͏ has͏͏ halved͏͏ over͏͏ the͏͏ past͏͏ five͏͏ years͏͏ due͏͏ to͏͏ continuous͏͏ price͏͏ increases͏͏ and͏͏ preferences͏͏ for͏͏ local͏͏ players.͏͏ The͏͏ Beer͏͏ Industry͏͏ Association͏͏ of͏͏ India͏͏ anticipates͏͏ renewed͏͏ investment͏͏ interest͏͏ in͏͏ the͏͏ state,͏͏ potentially͏͏ worth͏͏ thousands͏͏ of͏͏ crores,͏͏ as͏͏ the͏͏ cost͏͏ of͏͏ each͏͏ brewery͏͏ ranges͏͏ from͏͏ INR͏͏ 300͏͏ crore͏͏ to͏͏ INR͏͏ 500͏͏ crore.

Lottery͏͏ System͏͏ for͏͏ Licensing:

Licences͏͏ will͏͏ be͏͏ distributed͏͏ via͏͏ an͏͏ online͏͏ lottery͏͏ system,͏͏ featuring͏͏ four͏͏ categories͏͏ with͏͏ fees͏͏ between͏͏ INR͏͏ 50͏͏ lakh͏͏ and͏͏ INR͏͏ 85͏͏ lakh.͏͏ Shop͏͏ owners͏͏ can͏͏ expect͏͏ a͏͏ profit͏͏ margin͏͏ of͏͏ 20%͏͏ on͏͏ their͏͏ sales.͏͏ Additionally,͏͏ the͏͏ government͏͏ plans͏͏ to͏͏ issue͏͏ licences͏͏ for͏͏ 12͏͏ premium͏͏ shops,͏͏ each͏͏ valid͏͏ for͏͏ five͏͏ years,͏͏ with͏͏ a͏͏ fee͏͏ of͏͏ INR͏͏ 1͏͏ crore.

The͏͏ new͏͏ excise͏͏ policy͏͏ may͏͏ result͏͏ in͏͏ substantial͏͏ market͏͏ share͏͏ increases͏͏ for͏͏ larger͏͏ players.

Continue͏͏ Exploring:͏͏ Big͏͏ liquor and͏͏ beer͏͏ brands͏͏ to͏͏ make͏͏ a͏͏ comeback͏͏ in͏͏ Andhra Pradesh

Fi India and ProPak India 2024 kicks off in Bangalore, showcasing growth in food processing and packaging sectors

M Haziq Pandit

October 1, 2024

packaging Fi India and ProPak India 2024

The 18th Edition of Fi India and the 6th Edition of ProPak India 2024 kicked off at the Bangalore International Exhibition Centre (BIEC), uniting key stakeholders from the food, health, packaging, and processing sectors. Organised͏͏ by͏͏ Informa͏͏ Markets͏͏ in͏͏ India,͏͏ the͏͏ expos͏͏ showcase͏͏ over͏͏ 340͏͏ exhibitors͏͏ and͏͏ are͏͏ expected͏͏ to͏͏ draw͏͏ more͏͏ than͏͏ 17,000͏͏ visitors͏͏ combined.

Growth͏͏ in͏͏ Packaged͏͏ Food͏͏ Sector:

The͏͏ post-pandemic͏͏ era͏͏ has͏͏ seen͏͏ remarkable͏͏ growth͏͏ in͏͏ the͏͏ online͏͏ food͏͏ sector͏͏ and͏͏ packaged͏͏ food͏͏ products.͏͏ A͏͏ report͏͏ by͏͏ IMARC͏͏ India͏͏ indicates͏͏ that͏͏ the͏͏ market͏͏ size͏͏ for͏͏ packaged͏͏ food͏͏ will͏͏ reach͏͏ USD͏͏ 3.4͏͏ billion͏͏ by͏͏ 2027.͏͏ The͏͏ Indian͏͏ food͏͏ processing͏͏ industry,͏͏ which͏͏ accounts͏͏ for͏͏ 32%͏͏ of͏͏ the͏͏ total͏͏ food͏͏ market,͏͏ is͏͏ one͏͏ of͏͏ the͏͏ largest͏͏ sectors͏͏ in͏͏ the͏͏ country,͏͏ contributing͏͏ around͏͏ 14%͏͏ to͏͏ manufacturing͏͏ GDP,͏͏ 13%͏͏ to͏͏ exports,͏͏ and͏͏ 6%͏͏ to͏͏ overall͏͏ industrial͏͏ development.͏͏ By͏͏ 2025-2026,͏͏ this͏͏ sector͏͏ is͏͏ expected͏͏ to͏͏ be͏͏ valued͏͏ at͏͏ over͏͏ USD͏͏ 535͏͏ billion.

Dr͏͏ Suresha,͏͏ President͏͏ of͏͏ the͏͏ Association͏͏ of͏͏ Food͏͏ Scientists͏͏ &͏͏ Technologists͏͏ India͏͏ (AFSTI),͏͏ stated,͏͏ “India’s͏͏ food͏͏ industry͏͏ is͏͏ experiencing͏͏ significant͏͏ growth,͏͏ with͏͏ exports͏͏ increasing͏͏ nearly͏͏ sixfold.͏͏ As͏͏ the͏͏ largest͏͏ producer͏͏ of͏͏ millets͏͏ and͏͏ milk,͏͏ India͏͏ aims͏͏ to͏͏ raise͏͏ milk͏͏ production͏͏ from͏͏ 230͏͏ to͏͏ 300͏͏ million͏͏ metric͏͏ tons͏͏ by͏͏ 2030.͏͏ Grain͏͏ production͏͏ has͏͏ also͏͏ surpassed͏͏ 330͏͏ million͏͏ metric͏͏ tons,͏͏ making͏͏ the͏͏ country͏͏ the͏͏ second-largest͏͏ meat͏͏ producer,͏͏ with͏͏ an͏͏ emphasis͏͏ on͏͏ expanding͏͏ exports.͏͏ The͏͏ packaging͏͏ industry,͏͏ which͏͏ has͏͏ grown͏͏ nearly͏͏ sixfold͏͏ over͏͏ the͏͏ past͏͏ decade,͏͏ plays͏͏ a͏͏ vital͏͏ role͏͏ in͏͏ supporting͏͏ this͏͏ expansion.”

He͏͏ added,͏͏ “Government͏͏ initiatives͏͏ like͏͏ Atma͏͏ Nirbhar͏͏ Bharat͏͏ are͏͏ further͏͏ driving͏͏ growth͏͏ in͏͏ food͏͏ processing,͏͏ providing͏͏ benefits͏͏ for͏͏ women-led͏͏ startups,͏͏ including͏͏ a͏͏ waiver͏͏ of͏͏ GST͏͏ for͏͏ the͏͏ first͏͏ five͏͏ years͏͏ and͏͏ additional͏͏ subsidies.͏͏ As͏͏ Bangalore͏͏ solidifies͏͏ its͏͏ status͏͏ as͏͏ a͏͏ hub͏͏ for͏͏ food͏͏ industry͏͏ R&D,͏͏ these͏͏ trends͏͏ underscore͏͏ the͏͏ crucial͏͏ role͏͏ of͏͏ both͏͏ ingredients͏͏ and͏͏ packaging͏͏ in͏͏ shaping͏͏ the͏͏ industry’s͏͏ future.”

Nilesh͏͏ Lele,͏͏ President͏͏ of͏͏ the͏͏ Chamber͏͏ for͏͏ Advancement͏͏ of͏͏ Small͏͏ and͏͏ Medium͏͏ Businesses͏͏ (CASMB),͏͏ highlighted͏͏ that͏͏ the͏͏ Agri͏͏ and͏͏ Food͏͏ industry͏͏ accounts͏͏ for͏͏ nearly͏͏ 16%͏͏ of͏͏ India’s͏͏ GDP,͏͏ valued͏͏ at͏͏ around͏͏ USD͏͏ 450͏͏ billion͏͏ (approximately͏͏ INR͏͏ 30͏͏ lakh͏͏ crore)͏͏ annually.͏͏ Dairy͏͏ products͏͏ make͏͏ up͏͏ about͏͏ 20%͏͏ of͏͏ this͏͏ sector,͏͏ with͏͏ a͏͏ market͏͏ size͏͏ of͏͏ INR͏͏ 6͏͏ lakh͏͏ crore.͏͏ The͏͏ demand͏͏ for͏͏ value-added͏͏ dairy͏͏ items͏͏ such͏͏ as͏͏ ghee,͏͏ cheese,͏͏ and͏͏ butter͏͏ is͏͏ driving͏͏ substantial͏͏ growth.͏͏ With͏͏ current͏͏ milk͏͏ consumption͏͏ at͏͏ 292͏͏ ml͏͏ per͏͏ capita͏͏ per͏͏ day,͏͏ there͏͏ is͏͏ considerable͏͏ potential͏͏ for͏͏ expansion͏͏ as͏͏ more͏͏ consumers͏͏ embrace͏͏ these͏͏ products.͏͏ Other͏͏ significant͏͏ sectors͏͏ include͏͏ beverages,͏͏ valued͏͏ at͏͏ INR͏͏ 2͏͏ lakh͏͏ crore,͏͏ and͏͏ snacks͏͏ and͏͏ bakery,͏͏ each͏͏ contributing͏͏ around͏͏ INR͏͏ 1͏͏ lakh͏͏ crore.

Continue͏͏ Exploring:͏͏ Sustainable͏͏ packaging firm͏͏ Xolopak͏͏ India͏͏ secures͏͏ investments͏͏ from͏͏ Bollywood͏͏ celebrities͏͏ and͏͏ leading͏͏ investors͏͏ in͏͏ pre-IPO͏͏ round

Technology͏͏ Advancements͏͏ in͏͏ Packaged͏͏ Food:

He͏͏ further͏͏ noted͏͏ that͏͏ advancements͏͏ in͏͏ technology,͏͏ such͏͏ as͏͏ extrusion,͏͏ are͏͏ propelling͏͏ the͏͏ growth͏͏ of͏͏ the͏͏ packaged͏͏ and͏͏ processed͏͏ food͏͏ industry͏͏ by͏͏ enhancing͏͏ snack͏͏ production.͏͏ Although͏͏ India’s͏͏ packaged͏͏ food͏͏ consumption͏͏ is͏͏ currently͏͏ about͏͏ 7%,͏͏ there͏͏ is͏͏ an͏͏ opportunity͏͏ to͏͏ boost͏͏ this͏͏ figure͏͏ to͏͏ 20%,͏͏ which͏͏ could͏͏ help͏͏ reduce͏͏ post-harvest͏͏ losses͏͏ and͏͏ prolong͏͏ shelf͏͏ life.͏͏ In͏͏ contrast,͏͏ more͏͏ developed͏͏ markets͏͏ see͏͏ packaged͏͏ food͏͏ consumption͏͏ rates͏͏ of͏͏ up͏͏ to͏͏ 80%.͏͏ As͏͏ the͏͏ global͏͏ population͏͏ increases,͏͏ the͏͏ need͏͏ for͏͏ efficient͏͏ food͏͏ processing͏͏ and͏͏ packaging͏͏ solutions͏͏ will͏͏ be͏͏ vital͏͏ to͏͏ meet͏͏ rising͏͏ demand͏͏ for͏͏ food͏͏ that͏͏ lasts͏͏ longer͏͏ and͏͏ is͏͏ easier͏͏ to͏͏ transport,͏͏ underscoring͏͏ the͏͏ importance͏͏ of͏͏ innovation͏͏ in͏͏ this͏͏ field.

Sagar͏͏ Singh,͏͏ Joint͏͏ Director͏͏ of͏͏ the͏͏ Chemical͏͏ Department͏͏ at͏͏ the͏͏ Bureau͏͏ of͏͏ Indian͏͏ Standards͏͏ (BIS)͏͏ under͏͏ the͏͏ Ministry͏͏ of͏͏ Consumer͏͏ Affairs,͏͏ Food͏͏ &͏͏ Public͏͏ Distribution,͏͏ Government͏͏ of͏͏ India,͏͏ stated,͏͏ “At͏͏ the͏͏ Food͏͏ Safety͏͏ and͏͏ Standards͏͏ Authority͏͏ of͏͏ India͏͏ (FSSAI)͏͏ and͏͏ the͏͏ Bureau͏͏ of͏͏ Indian͏͏ Standards͏͏ (BIS),͏͏ our͏͏ goal͏͏ is͏͏ to͏͏ establish͏͏ industry-friendly͏͏ regulations͏͏ that͏͏ improve͏͏ operational͏͏ efficiency.͏͏ Recent͏͏ updates͏͏ to͏͏ packaging͏͏ and͏͏ labeling͏͏ regulations͏͏ at͏͏ FSSAI,͏͏ along͏͏ with͏͏ our͏͏ commitment͏͏ to͏͏ aligning͏͏ Indian͏͏ standards͏͏ with͏͏ international͏͏ benchmarks,͏͏ are͏͏ significant͏͏ initiatives.͏͏ As͏͏ we͏͏ revise͏͏ food͏͏ packaging͏͏ standards,͏͏ we͏͏ expect͏͏ that͏͏ the͏͏ quality͏͏ of͏͏ Indian͏͏ food͏͏ products͏͏ will͏͏ not͏͏ only͏͏ meet͏͏ but͏͏ potentially͏͏ exceed͏͏ global͏͏ standards͏͏ in͏͏ the͏͏ near͏͏ future.”

Prasad͏͏ Balan͏͏ Iyer,͏͏ Director͏͏ of͏͏ the͏͏ SIES͏͏ (South͏͏ Indian͏͏ Education͏͏ Society)͏͏ School͏͏ of͏͏ Packaging,͏͏ remarked,͏͏ “India͏͏ has͏͏ emerged͏͏ as͏͏ the͏͏ third-largest͏͏ packaging͏͏ market͏͏ globally,͏͏ surpassing͏͏ Japan,͏͏ with͏͏ the͏͏ industry͏͏ now͏͏ valued͏͏ at͏͏ over͏͏ USD͏͏ 86͏͏ billion.͏͏ The͏͏ global͏͏ packaging͏͏ market,͏͏ worth͏͏ more͏͏ than͏͏ USD͏͏ 1͏͏ trillion,͏͏ is͏͏ driven͏͏ by͏͏ sectors͏͏ such͏͏ as͏͏ e-commerce,͏͏ food͏͏ delivery,͏͏ pharmaceuticals,͏͏ and͏͏ the͏͏ food͏͏ industry,͏͏ particularly͏͏ in͏͏ major͏͏ cities͏͏ like͏͏ Bangalore͏͏ and͏͏ Mumbai.͏͏ Packaging͏͏ is͏͏ essential͏͏ for͏͏ food͏͏ safety,͏͏ extending͏͏ shelf͏͏ life,͏͏ and͏͏ enhancing͏͏ India’s͏͏ export͏͏ competitiveness.͏͏ In͏͏ 2023,͏͏ the͏͏ country’s͏͏ packaged͏͏ food͏͏ sector͏͏ reached͏͏ a͏͏ market͏͏ size͏͏ of͏͏ USD͏͏ 2.8͏͏ billion,͏͏ with͏͏ projections͏͏ indicating͏͏ it͏͏ will͏͏ grow͏͏ to͏͏ USD͏͏ 6.4͏͏ billion͏͏ by͏͏ 2029.͏͏ This͏͏ growth͏͏ reflects͏͏ changing͏͏ consumer͏͏ preferences͏͏ and͏͏ the͏͏ increasing͏͏ demand͏͏ for͏͏ convenient,͏͏ ready-to-eat͏͏ options͏͏ in͏͏ one͏͏ of͏͏ the͏͏ world’s͏͏ most͏͏ populous͏͏ countries.”

He͏͏ added,͏͏ “As͏͏ a͏͏ key͏͏ partner͏͏ of͏͏ ProPak͏͏ India,͏͏ we͏͏ are͏͏ committed͏͏ to͏͏ promoting͏͏ sustainable͏͏ solutions,͏͏ fostering͏͏ a͏͏ circular͏͏ economy,͏͏ and͏͏ equipping͏͏ skilled͏͏ professionals͏͏ to͏͏ meet͏͏ the͏͏ industry’s͏͏ evolving͏͏ demands.”

Chakravarthi͏͏ AVPS,͏͏ Global͏͏ Ambassador͏͏ of͏͏ the͏͏ World͏͏ Packaging͏͏ Organisation,͏͏ stated,͏͏ “India’s͏͏ growing͏͏ economy͏͏ is͏͏ set͏͏ to͏͏ gain͏͏ a͏͏ significant͏͏ boost͏͏ from͏͏ its͏͏ food͏͏ and͏͏ agriculture͏͏ sector,͏͏ projected͏͏ to͏͏ become͏͏ a͏͏ vital͏͏ contributor.͏͏ Platforms͏͏ like͏͏ FI͏͏ India͏͏ and͏͏ ProPak͏͏ India͏͏ are͏͏ at͏͏ the͏͏ forefront͏͏ of͏͏ this͏͏ transformation,͏͏ serving͏͏ as͏͏ dynamic͏͏ convergence͏͏ points͏͏ for͏͏ innovators͏͏ and͏͏ stakeholders.͏͏ Notably,͏͏ India’s͏͏ packaging͏͏ industry͏͏ has͏͏ already͏͏ exceeded͏͏ USD͏͏ 85͏͏ billion,͏͏ while͏͏ the͏͏ global͏͏ market͏͏ has͏͏ reached͏͏ USD͏͏ 1.05͏͏ trillion,͏͏ underscoring͏͏ the͏͏ essential͏͏ role͏͏ of͏͏ sustainable͏͏ and͏͏ customer-centric͏͏ packaging͏͏ in͏͏ shaping͏͏ the͏͏ future͏͏ of͏͏ food͏͏ processing͏͏ and͏͏ nutrition.͏͏

Furthermore,͏͏ the͏͏ evolution͏͏ of͏͏ machinery͏͏ and͏͏ processing͏͏ technologies,͏͏ which͏͏ previously͏͏ depended͏͏ on͏͏ imports,͏͏ is͏͏ now͏͏ flourishing͏͏ due͏͏ to͏͏ domestic͏͏ advancements.͏͏ These͏͏ developments͏͏ are͏͏ vital͏͏ for͏͏ extending͏͏ shelf͏͏ life,͏͏ enhancing͏͏ food͏͏ safety,͏͏ and͏͏ reinforcing͏͏ India’s͏͏ position͏͏ as͏͏ a͏͏ key͏͏ player͏͏ in͏͏ global͏͏ exports.”

Rajeshwar͏͏ S.͏͏ Matche,͏͏ Head͏͏ and͏͏ Chief͏͏ Scientist͏͏ at͏͏ the͏͏ Department͏͏ of͏͏ Food͏͏ Packaging͏͏ Technology,͏͏ Central͏͏ Food͏͏ Technological͏͏ Research͏͏ Institute͏͏ (CSIR),͏͏ Mysuru,͏͏ Karnataka,͏͏ stated,͏͏ “Innovative͏͏ advancements͏͏ in͏͏ active͏͏ smart͏͏ packaging͏͏ systems͏͏ and͏͏ global͏͏ processing͏͏ trends͏͏ are͏͏ crucial͏͏ for͏͏ shaping͏͏ the͏͏ future͏͏ of͏͏ the͏͏ food͏͏ packaging͏͏ industry.͏͏ As͏͏ sustainability͏͏ becomes͏͏ a͏͏ priority,͏͏ addressing͏͏ degradation͏͏ issues͏͏ is͏͏ essential͏͏ for͏͏ developing͏͏ packaging͏͏ solutions͏͏ that͏͏ are͏͏ both͏͏ effective͏͏ and͏͏ environmentally͏͏ responsible.͏͏ It͏͏ is͏͏ vital͏͏ that͏͏ packaging͏͏ adheres͏͏ to͏͏ stringent͏͏ safety͏͏ standards͏͏ for͏͏ human͏͏ consumption.”

He͏͏ added,͏͏ “The͏͏ involvement͏͏ of͏͏ diverse͏͏ experts͏͏ from͏͏ esteemed͏͏ institutions͏͏ like͏͏ IIT͏͏ Delhi͏͏ and͏͏ IIT͏͏ Roorkee,͏͏ along͏͏ with͏͏ industry͏͏ leaders,͏͏ enhances͏͏ discussions͏͏ and͏͏ fosters͏͏ collaboration.͏͏ Moreover,͏͏ engaging͏͏ the͏͏ student͏͏ community͏͏ is͏͏ essential͏͏ for͏͏ bridging͏͏ the͏͏ gap͏͏ between͏͏ academia͏͏ and͏͏ industry,͏͏ paving͏͏ the͏͏ way͏͏ for͏͏ future͏͏ innovations.”

While͏͏ speaking͏͏ at͏͏ Fi͏͏ India͏͏ &͏͏ ProPak͏͏ India,͏͏ Yogesh͏͏ Mudras,͏͏ Managing͏͏ Director͏͏ of͏͏ Informa͏͏ Markets͏͏ in͏͏ India,͏͏ remarked,͏͏ “India’s͏͏ food͏͏ processing͏͏ sector͏͏ is͏͏ undergoing͏͏ a͏͏ significant͏͏ transformation,͏͏ bolstered͏͏ by͏͏ initiatives͏͏ like͏͏ the͏͏ Pradhan͏͏ Mantri͏͏ Kisan͏͏ Sampada͏͏ Yojana͏͏ (PMKSY),͏͏ which͏͏ ensures͏͏ an͏͏ efficient͏͏ farm-to-retail͏͏ infrastructure.͏͏ As͏͏ a͏͏ global͏͏ leader͏͏ in͏͏ food͏͏ production,͏͏ India͏͏ excels͏͏ in͏͏ spices,͏͏ producing͏͏ over͏͏ 11͏͏ million͏͏ tons͏͏ in͏͏ 2022-23.͏͏ Our͏͏ diverse͏͏ agro-climatic͏͏ conditions͏͏ facilitate͏͏ the͏͏ cultivation͏͏ of͏͏ cereals,͏͏ pulses,͏͏ and͏͏ vegetables.͏͏ The͏͏ rapid͏͏ growth͏͏ of͏͏ the͏͏ food͏͏ packaging͏͏ industry,͏͏ driven͏͏ by͏͏ convenience͏͏ and͏͏ sustainability,͏͏ is͏͏ evident͏͏ in͏͏ the͏͏ success͏͏ of͏͏ Fi͏͏ India͏͏ &͏͏ ProPak͏͏ India͏͏ 2024,͏͏ which͏͏ showcases͏͏ innovation͏͏ and͏͏ collaboration.”

“Bangalore͏͏ continues͏͏ to͏͏ be͏͏ a͏͏ key͏͏ market͏͏ thanks͏͏ to͏͏ its͏͏ robust͏͏ agritech͏͏ ecosystem͏͏ and͏͏ strategic͏͏ location͏͏ in͏͏ South͏͏ India,͏͏ positioning͏͏ it͏͏ as͏͏ an͏͏ ideal͏͏ hub͏͏ for͏͏ fostering͏͏ growth͏͏ in͏͏ food͏͏ processing͏͏ and͏͏ packaging,”͏͏ he͏͏ added.

Fi͏͏ India͏͏ &͏͏ ProPak͏͏ India͏͏ 2024͏͏ are͏͏ backed͏͏ by͏͏ prominent͏͏ industry͏͏ associations,͏͏ including͏͏ the͏͏ AFSTI-Mysuru͏͏ &͏͏ Bengaluru͏͏ Chapters͏͏ (Association͏͏ of͏͏ Food͏͏ Scientists͏͏ &͏͏ Technologists͏͏ India),͏͏ HADSA͏͏ (Health͏͏ Foods͏͏ and͏͏ Dietary͏͏ Supplements͏͏ Association),͏͏ CASMB,͏͏ IBA͏͏ AIFPA͏͏ (All͏͏ India͏͏ Food͏͏ Processors’͏͏ Association),͏͏ SIES͏͏ (South͏͏ Indian͏͏ Education͏͏ Society),͏͏ and͏͏ ASPA͏͏ (Authentication͏͏ Solution͏͏ Providers’͏͏ Association).͏͏ Their͏͏ support͏͏ enhances͏͏ the͏͏ event’s͏͏ significance͏͏ and͏͏ impact͏͏ within͏͏ the͏͏ industry.

The͏͏ event͏͏ featured͏͏ prominent͏͏ exhibitors͏͏ such͏͏ as͏͏ Brenntag͏͏ Ingredients͏͏ India͏͏ Pvt͏͏ Ltd,͏͏ IMCD,͏͏ Synthite͏͏ Industries͏͏ Pvt͏͏ Ltd,͏͏ K.P.͏͏ Manish͏͏ Global͏͏ Ingredients͏͏ Pvt͏͏ Ltd,͏͏ Novasol͏͏ Ingredients͏͏ Pvt͏͏ Ltd,͏͏ Azelis͏͏ (India)͏͏ Pvt͏͏ Ltd,͏͏ Symega͏͏ Food͏͏ Ingredients͏͏ Ltd,͏͏ Norex͏͏ Flavours͏͏ Pvt͏͏ Ltd,͏͏ Fillpack͏͏ Technology,͏͏ Glatt͏͏ (India)͏͏ Engineering͏͏ Pvt͏͏ Ltd,͏͏ Hilda͏͏ Automation,͏͏ and͏͏ Starpac,͏͏ among͏͏ others,͏͏ highlighting͏͏ the͏͏ latest͏͏ innovations͏͏ and͏͏ solutions͏͏ in͏͏ food͏͏ and͏͏ packaging͏͏ technology.

Continue͏͏ Exploring:͏͏ Pakka͏͏ launches͏͏ new͏͏ range͏͏ of͏͏ compostable͏͏ flexible͏͏ packaging solutions͏͏ for͏͏ FMCG͏͏ industry

Indian Beverage Association calls for GST overhaul, advocates sugar-based tax to propel sector growth

M Haziq Pandit

October 1, 2024

The Indian Beverage Association has called for a rationalisation of the GST structure on non-alcoholic beverages, advocating for taxes to be levied based on sugar content. They͏͏ stated͏͏ that͏͏ with͏͏ supportive͏͏ policies,͏͏ the͏͏ sector͏͏ could͏͏ expand͏͏ to͏͏ INR͏͏ 1.5͏͏ lakh͏͏ crore͏͏ by͏͏ 2030.͏͏ Speaking͏͏ at͏͏ the͏͏ launch͏͏ of͏͏ an͏͏ ICRIER͏͏ report͏͏ on͏͏ tax͏͏ policy͏͏ for͏͏ carbonated͏͏ beverages͏͏ in͏͏ India,͏͏ Indian͏͏ Beverage͏͏ Association͏͏ Secretary͏͏ General͏͏ J.P.͏͏ Meena͏͏ emphasised͏͏ that͏͏ non-alcoholic͏͏ beverages͏͏ are͏͏ vital͏͏ to͏͏ India’s͏͏ food͏͏ processing͏͏ sector͏͏ and͏͏ can͏͏ significantly͏͏ contribute͏͏ to͏͏ establishing͏͏ the͏͏ country͏͏ as͏͏ a͏͏ global͏͏ manufacturing͏͏ hub.

He͏͏ also͏͏ stated͏͏ that͏͏ bottled͏͏ water͏͏ should͏͏ be͏͏ taxed͏͏ at͏͏ a͏͏ uniform͏͏ rate͏͏ of͏͏ 5%͏͏ GST͏͏ across͏͏ all͏͏ bottle͏͏ sizes,͏͏ rather͏͏ than͏͏ applying͏͏ different͏͏ rates͏͏ of͏͏ 12%͏͏ for͏͏ bottles͏͏ of͏͏ 20͏͏ litres͏͏ and͏͏ above͏͏ and͏͏ 18%͏͏ for͏͏ those͏͏ below͏͏ 20͏͏ litres.͏͏ This͏͏ change͏͏ is͏͏ essential͏͏ to͏͏ encourage͏͏ greater͏͏ private͏͏ participation͏͏ in͏͏ the͏͏ supply͏͏ of͏͏ potable͏͏ water͏͏ in͏͏ the͏͏ country.

Continue͏͏ Exploring:͏͏ Indian Beverage Association urges͏͏ government͏͏ to͏͏ exclude͏͏ carbonated͏͏ beverages͏͏ and͏͏ juice-based͏͏ drinks͏͏ from͏͏ ‘sin͏͏ taxes’

Projected͏͏ Growth͏͏ of͏͏ the͏͏ Sector:

“This͏͏ sector͏͏ (non-alcoholic͏͏ beverages)͏͏ is͏͏ currently͏͏ estimated͏͏ to͏͏ be͏͏ around͏͏ INR͏͏ 60,000͏͏ crore͏͏ and,͏͏ with͏͏ a͏͏ supportive͏͏ policy͏͏ environment,͏͏ is͏͏ projected͏͏ to͏͏ reach͏͏ approximately͏͏ INR͏͏ 1.5͏͏ lakh͏͏ crore͏͏ by͏͏ 2030,”͏͏ Meena͏͏ stated.

He͏͏ further͏͏ mentioned͏͏ that͏͏ the͏͏ sector͏͏ currently͏͏ encounters͏͏ “impediments”͏͏ due͏͏ to͏͏ “the͏͏ existing͏͏ tax͏͏ regime.”

“I͏͏ believe͏͏ the͏͏ tax͏͏ treatment͏͏ has͏͏ been͏͏ unfair͏͏ to͏͏ the͏͏ sector,͏͏ and͏͏ if͏͏ it͏͏ is͏͏ rationalised,͏͏ I͏͏ see͏͏ a͏͏ promising͏͏ future͏͏ for͏͏ India͏͏ as͏͏ a͏͏ beverage͏͏ processing͏͏ hub͏͏ in͏͏ the͏͏ near͏͏ future,”͏͏ he͏͏ added.

Meena͏͏ stated͏͏ that͏͏ when͏͏ the͏͏ GST͏͏ regime͏͏ was͏͏ introduced,͏͏ non-alcoholic͏͏ beverages͏͏ were͏͏ classified͏͏ as͏͏ “demerit͏͏ goods͏͏ or͏͏ sin͏͏ products,”͏͏ grouping͏͏ them͏͏ with͏͏ items͏͏ like͏͏ tobacco͏͏ and͏͏ alcohol.͏͏ Most͏͏ of͏͏ these͏͏ products͏͏ were͏͏ taxed͏͏ at͏͏ “the͏͏ highest͏͏ GST͏͏ level͏͏ of͏͏ 28%͏͏ plus͏͏ an͏͏ additional͏͏ 12%͏͏ cess.”

Global͏͏ Consensus͏͏ on͏͏ Sugar-Based͏͏ Taxation:

He͏͏ stated͏͏ that͏͏ non-alcoholic͏͏ beverages͏͏ should͏͏ be͏͏ taxed͏͏ based͏͏ on͏͏ their͏͏ sugar͏͏ content,͏͏ with͏͏ products͏͏ containing͏͏ the͏͏ highest͏͏ sugar͏͏ levels͏͏ subjected͏͏ to͏͏ the͏͏ highest͏͏ GST͏͏ and͏͏ those͏͏ with͏͏ minimal͏͏ sugar͏͏ attracting͏͏ the͏͏ lowest͏͏ rate.

The͏͏ ICRIER͏͏ report͏͏ noted͏͏ that͏͏ there͏͏ is͏͏ a͏͏ global͏͏ consensus͏͏ among͏͏ policymakers͏͏ on͏͏ the͏͏ necessity͏͏ of͏͏ implementing͏͏ a͏͏ sugar-based͏͏ or͏͏ layered͏͏ tax͏͏ on͏͏ carbonated͏͏ soft͏͏ drinks͏͏ (CSDs).

Indian͏͏ consumers͏͏ are͏͏ becoming͏͏ more͏͏ health-conscious͏͏ and͏͏ are͏͏ open͏͏ to͏͏ trying͏͏ new͏͏ products,͏͏ such͏͏ as͏͏ low͏͏ or͏͏ no-sugar͏͏ carbonated͏͏ beverages͏͏ and͏͏ fruit-based͏͏ carbonated͏͏ drinks.

“Hence,͏͏ there͏͏ are͏͏ opportunities͏͏ for͏͏ the͏͏ country͏͏ to͏͏ expand͏͏ the͏͏ production͏͏ of͏͏ various͏͏ CSDs,͏͏ including͏͏ low-sugar͏͏ options,͏͏ which͏͏ can͏͏ boost͏͏ sector͏͏ revenue,͏͏ attract͏͏ investment͏͏ in͏͏ manufacturing,͏͏ and͏͏ create͏͏ jobs.͏͏ A͏͏ layered-tax͏͏ model͏͏ based͏͏ on͏͏ added͏͏ sugar͏͏ content͏͏ in͏͏ CSDs͏͏ can,͏͏ therefore,͏͏ drive͏͏ growth,”͏͏ the͏͏ report͏͏ stated.

Highlighting͏͏ the͏͏ urgent͏͏ need͏͏ for͏͏ a͏͏ layered͏͏ tax͏͏ on͏͏ CSDs͏͏ based͏͏ on͏͏ sugar͏͏ content,͏͏ the͏͏ ICRIER͏͏ report͏͏ stated,͏͏ “This͏͏ tax͏͏ structure͏͏ is͏͏ necessary͏͏ to͏͏ distinguish͏͏ healthier͏͏ products͏͏ from͏͏ less͏͏ healthy͏͏ ones,͏͏ promote͏͏ the͏͏ production͏͏ and͏͏ sale͏͏ of͏͏ healthier͏͏ alternatives,͏͏ and͏͏ encourage͏͏ consumers͏͏ to͏͏ choose͏͏ low͏͏ and͏͏ no-sugar͏͏ beverages.”

The͏͏ report͏͏ added͏͏ that͏͏ a͏͏ lower͏͏ tax͏͏ on͏͏ healthier͏͏ products͏͏ could͏͏ reduce͏͏ prices,͏͏ leading͏͏ to͏͏ increased͏͏ consumption,͏͏ while͏͏ also͏͏ encouraging͏͏ producers͏͏ to͏͏ shift͏͏ towards͏͏ healthier͏͏ options.

Continue͏͏ Exploring:͏͏ Centre͏͏ targets͏͏ $1͏͏ billion͏͏ exports͏͏ of͏͏ alcoholic͏͏ beverages as͏͏ global͏͏ demand͏͏ grows

99 Pancakes opens 5 new outlets; eyes Gujarat market for further expansion

M Haziq Pandit

October 1, 2024

99 Pancakes, India’s leading QSR chain known for its diverse selection of delicious pancakes, has unveiled its latest outlets in Aurangabad and Panvel in Maharashtra, along with Ahmedabad, Anand, and Chiplun in Gujarat. These͏͏ openings͏͏ mark͏͏ a͏͏ significant͏͏ step͏͏ in͏͏ the͏͏ brand’s͏͏ ongoing͏͏ expansion͏͏ across͏͏ India.

A͏͏ Diverse͏͏ Menu͏͏ for͏͏ All͏͏ Tastes:

Founded͏͏ on͏͏ the͏͏ principles͏͏ of͏͏ quality,͏͏ innovation,͏͏ and͏͏ outstanding͏͏ customer͏͏ service,͏͏ 99͏͏ Pancakes͏͏ has͏͏ quickly͏͏ become͏͏ a͏͏ favourite͏͏ destination͏͏ for͏͏ dessert͏͏ enthusiasts,͏͏ providing͏͏ a͏͏ unique͏͏ and͏͏ delightful͏͏ dining͏͏ experience.͏͏ With͏͏ its͏͏ diverse͏͏ menu͏͏ of͏͏ sweet͏͏ and͏͏ savoury͏͏ pancakes,͏͏ the͏͏ chain͏͏ accommodates͏͏ all͏͏ tastes,͏͏ including͏͏ gluten-free͏͏ and͏͏ vegan͏͏ options.

Continue͏͏ Exploring:͏͏ With͏͏ fresh͏͏ INR͏͏ 200͏͏ Mn͏͏ in͏͏ funding,͏͏ 99 Pancakes targets͏͏ rapid͏͏ expansion͏͏ across͏͏ India

Signature͏͏ Beverages͏͏ Enhance͏͏ the͏͏ Experience:

Every͏͏ 99͏͏ Pancakes͏͏ location͏͏ showcases͏͏ the͏͏ brand’s͏͏ signature͏͏ menu,͏͏ complemented͏͏ by͏͏ a͏͏ range͏͏ of͏͏ beverages,͏͏ from͏͏ gourmet͏͏ coffees͏͏ to͏͏ fresh͏͏ juices,͏͏ guaranteeing͏͏ a͏͏ delightful͏͏ and͏͏ well-rounded͏͏ experience.

“Our͏͏ mission͏͏ is͏͏ to͏͏ provide͏͏ our͏͏ customers͏͏ with͏͏ a͏͏ delightful͏͏ experience͏͏ during͏͏ every͏͏ visit,͏͏ and͏͏ we͏͏ are͏͏ excited͏͏ to͏͏ share͏͏ our͏͏ passion͏͏ for͏͏ pancakes͏͏ in͏͏ Aurangabad,͏͏ Ahmedabad,͏͏ Anand,͏͏ Chiplun,͏͏ and͏͏ Panvel,”͏͏ said͏͏ Vikesh͏͏ Shah,͏͏ Founder͏͏ of͏͏ 99͏͏ Pancakes.͏͏ “We͏͏ look͏͏ forward͏͏ to͏͏ upholding͏͏ our͏͏ tradition͏͏ of͏͏ serving͏͏ delicious͏͏ pancakes͏͏ in͏͏ a͏͏ warm͏͏ and͏͏ inviting͏͏ atmosphere,”͏͏ Vikesh͏͏ added.

Sarfaraz͏͏ Sheikh,͏͏ COO͏͏ of͏͏ 99͏͏ Pancakes,͏͏ expressed͏͏ his͏͏ enthusiasm:͏͏ “We͏͏ are͏͏ delighted͏͏ to͏͏ introduce͏͏ our͏͏ new͏͏ outlets͏͏ in͏͏ these͏͏ locations.͏͏ Our͏͏ goal͏͏ has͏͏ always͏͏ been͏͏ to͏͏ create͏͏ a͏͏ welcoming͏͏ environment͏͏ where͏͏ families͏͏ and͏͏ friends͏͏ can͏͏ enjoy͏͏ our͏͏ innovative͏͏ pancake͏͏ creations.͏͏ We͏͏ plan͏͏ to͏͏ expand͏͏ to͏͏ other͏͏ cities͏͏ across͏͏ India,͏͏ with͏͏ a͏͏ focus͏͏ on͏͏ the͏͏ Gujarat͏͏ market͏͏ in͏͏ the͏͏ next͏͏ phase,͏͏ ultimately͏͏ striving͏͏ to͏͏ become͏͏ a͏͏ household͏͏ name.”

As͏͏ 99͏͏ Pancakes͏͏ continues͏͏ to͏͏ grow,͏͏ it͏͏ remains͏͏ committed͏͏ to͏͏ upholding͏͏ the͏͏ high͏͏ standards͏͏ of͏͏ quality͏͏ and͏͏ customer͏͏ satisfaction͏͏ that͏͏ have͏͏ set͏͏ it͏͏ apart͏͏ in͏͏ the͏͏ competitive͏͏ food͏͏ service͏͏ industry.͏͏ Each͏͏ outlet͏͏ provides͏͏ a͏͏ cozy͏͏ atmosphere,͏͏ ideal͏͏ for͏͏ families,͏͏ friends,͏͏ or͏͏ anyone͏͏ seeking͏͏ to͏͏ enjoy͏͏ a͏͏ delicious͏͏ meal.

With͏͏ more͏͏ than͏͏ 48͏͏ stores͏͏ in͏͏ 16͏͏ cities͏͏ nationwide,͏͏ 99͏͏ Pancakes͏͏ is͏͏ bringing͏͏ delightful͏͏ pancake͏͏ experiences͏͏ to͏͏ everyone.

Continue͏͏ Exploring:͏͏ 99 Pancakes raises͏͏ INR͏͏ 200͏͏ Mn͏͏ for͏͏ pan-India͏͏ expansion

Nomad Pizza enlists Vaani Kapoor as brand ambassador

M Haziq Pandit

October 1, 2024

Nomad Pizza, renowned for its gourmet pizzas inspired by global cuisines, has appointed Bollywood actress Vaani Kapoor as its brand ambassador.

This͏͏ partnership͏͏ seeks͏͏ to͏͏ enhance͏͏ Nomad͏͏ Pizza’s͏͏ standing͏͏ in͏͏ the͏͏ culinary͏͏ landscape͏͏ by͏͏ merging͏͏ entertainment͏͏ with͏͏ food͏͏ innovation,͏͏ engaging͏͏ its͏͏ most͏͏ valued͏͏ and͏͏ loyal͏͏ customers͏͏ through͏͏ Vaani͏͏ Kapoor’s͏͏ charisma.

“I͏͏ am͏͏ excited͏͏ to͏͏ join͏͏ Nomad͏͏ Pizza͏͏ and͏͏ contribute͏͏ to͏͏ its͏͏ pursuit͏͏ of͏͏ excellence.͏͏ The͏͏ brand’s͏͏ dedication͏͏ to͏͏ quality͏͏ and͏͏ creativity͏͏ resonates͏͏ with͏͏ my͏͏ values,͏͏ and͏͏ I͏͏ look͏͏ forward͏͏ to͏͏ discovering͏͏ new͏͏ opportunities͏͏ in͏͏ the͏͏ culinary͏͏ space͏͏ alongside͏͏ Nomad͏͏ Pizza.͏͏ Our͏͏ shared͏͏ passion͏͏ for͏͏ food͏͏ and͏͏ innovation͏͏ will͏͏ hopefully͏͏ lead͏͏ to͏͏ results͏͏ that͏͏ exceed͏͏ our͏͏ expectations,”͏͏ said͏͏ Kapoor.

Continue͏͏ Exploring:͏͏ Nomad Pizza expands͏͏ footprint͏͏ with͏͏ new͏͏ Bangalore͏͏ restaurant

With͏͏ Vaani͏͏ Kapoor͏͏ as͏͏ its͏͏ brand͏͏ ambassador,͏͏ Nomad͏͏ Pizza͏͏ aims͏͏ to͏͏ revolutionise͏͏ the͏͏ pizza͏͏ delivery͏͏ experience,͏͏ reflecting͏͏ the͏͏ brand’s͏͏ commitment͏͏ to͏͏ long-term͏͏ growth͏͏ and͏͏ enhanced͏͏ customer͏͏ engagement.͏͏ This͏͏ collaboration͏͏ represents͏͏ a͏͏ harmonious͏͏ blend͏͏ of͏͏ values,͏͏ suggesting͏͏ a͏͏ promising͏͏ future͏͏ in͏͏ the͏͏ ever-evolving͏͏ culinary͏͏ landscape.

Nomad͏͏ Pizza,͏͏ a͏͏ signature͏͏ brand͏͏ under͏͏ Curefoods—one͏͏ of͏͏ India’s͏͏ leading͏͏ food͏͏ and͏͏ beverage͏͏ houses—is͏͏ the͏͏ fastest-growing͏͏ gourmet͏͏ pizza͏͏ chain͏͏ in͏͏ the͏͏ country.͏͏ Through͏͏ this͏͏ partnership,͏͏ Nomad͏͏ Pizza͏͏ aims͏͏ to͏͏ deliver͏͏ exceptional͏͏ flavours͏͏ and͏͏ quality,͏͏ ensuring͏͏ that͏͏ every͏͏ bite͏͏ reflects͏͏ its͏͏ unwavering͏͏ commitment͏͏ to͏͏ crafting͏͏ the͏͏ finest͏͏ pizzas.

“I͏͏ am͏͏ thrilled͏͏ to͏͏ witness͏͏ Nomad͏͏ Pizza͏͏ reaching͏͏ new͏͏ heights͏͏ and͏͏ establishing͏͏ a͏͏ natural͏͏ association͏͏ with͏͏ personalities͏͏ like͏͏ Vaani͏͏ Kapoor.͏͏ The͏͏ year͏͏ 2024͏͏ has͏͏ started͏͏ with͏͏ significant͏͏ developments͏͏ for͏͏ us,͏͏ and͏͏ this͏͏ partnership͏͏ introduces͏͏ innovation͏͏ along͏͏ with͏͏ a͏͏ stronger͏͏ connection͏͏ to͏͏ consumers.͏͏ With͏͏ a͏͏ promising͏͏ outlook͏͏ for͏͏ 2024,͏͏ we͏͏ plan͏͏ to͏͏ expand͏͏ the͏͏ brand͏͏ with͏͏ more͏͏ exciting͏͏ offerings͏͏ and͏͏ cuisines͏͏ for͏͏ our͏͏ customers͏͏ this͏͏ year,”͏͏ said͏͏ Amit͏͏ Ajwani,͏͏ Head͏͏ of͏͏ Nomad͏͏ Pizza.

Revolutionising͏͏ Pizza͏͏ Delivery:

Nomad͏͏ Pizza͏͏ has͏͏ revolutionised͏͏ the͏͏ pizza͏͏ delivery͏͏ market͏͏ in͏͏ India͏͏ by͏͏ introducing͏͏ a͏͏ unique͏͏ concept͏͏ that͏͏ brings͏͏ a͏͏ variety͏͏ of͏͏ global͏͏ flavours͏͏ straight͏͏ to͏͏ customers’͏͏ doorsteps,͏͏ alongside͏͏ its͏͏ physical͏͏ restaurants.͏͏ Featuring͏͏ an͏͏ extensive͏͏ menu͏͏ with͏͏ pizzas͏͏ from͏͏ 13͏͏ different͏͏ regions,͏͏ each͏͏ carefully͏͏ prepared͏͏ with͏͏ the͏͏ freshest͏͏ ingredients͏͏ and͏͏ a͏͏ range͏͏ of͏͏ flavours,͏͏ Nomad͏͏ Pizza͏͏ aims͏͏ to͏͏ provide͏͏ an͏͏ exceptional͏͏ pizza͏͏ experience.

Expansion͏͏ Goals:

The͏͏ brand͏͏ currently͏͏ boasts͏͏ 50͏͏ outlets͏͏ in͏͏ India͏͏ and͏͏ plans͏͏ to͏͏ expand͏͏ to͏͏ 100͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ year.͏͏ Additionally,͏͏ Nomad͏͏ Pizza͏͏ is͏͏ on͏͏ track͏͏ to͏͏ achieve͏͏ an͏͏ impressive͏͏ annual͏͏ revenue͏͏ of͏͏ INR͏͏ 100͏͏ crore,͏͏ representing͏͏ a͏͏ significant͏͏ financial͏͏ milestone͏͏ for͏͏ the͏͏ company.

Continue͏͏ Exploring:͏͏ Nomad expands͏͏ beyond͏͏ cloud͏͏ kitchen,͏͏ introduces͏͏ full-service͏͏ restaurant͏͏ in͏͏ Delhi

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Founder͏͏ Outlines͏͏ Growth͏͏ Plans͏͏ for͏͏ ClayCo Cosmetics:

Continue͏͏ Exploring:͏͏ SkinInspired͏͏ raises͏͏ INR͏͏ 12.2͏͏ Cr͏͏ seed͏͏ funding͏͏ to͏͏ redefine͏͏ skincare

Growth͏͏ Potential͏͏ in͏͏ the͏͏ BPC͏͏ Market:

Continue͏͏ Exploring:͏͏ Skincare brand͏͏ Asaya͏͏ raises͏͏ $1.5M͏͏ in͏͏ seed͏͏ funding͏͏ led͏͏ by͏͏ OTP͏͏ Ventures͏͏ and͏͏ Huddle͏͏ Ventures

Details͏͏ of͏͏ the͏͏ Capital͏͏ Infusion:

Utilisation͏͏ of͏͏ Funds:

Workforce͏͏ Restructuring:

Continue͏͏ Exploring:͏͏ WayCool Foods implements͏͏ second͏͏ wave͏͏ of͏͏ layoffs,͏͏ 70͏͏ employees͏͏ affected

Financial͏͏ Performance:

Continue͏͏ Exploring:͏͏ WayCool Foods reports͏͏ 62%͏͏ revenue͏͏ growth͏͏ to͏͏ INR͏͏ 1,251͏͏ Cr͏͏ for͏͏ FY23;͏͏ net͏͏ loss͏͏ rises͏͏ 89%͏͏ to͏͏ INR͏͏ 685͏͏ Cr

Continue͏͏ Exploring:͏͏ Agritech firm͏͏ WayCool sets͏͏ up͏͏ FMCG͏͏ arm͏͏ ‘BrandsNext’,͏͏ names͏͏ BP͏͏ Ravindran͏͏ as͏͏ CEO

Invesco’s͏͏ Previous͏͏ Investment͏͏ in͏͏ Swiggy:

Continue͏͏ Exploring:͏͏ Invesco marks͏͏ down͏͏ valuations͏͏ of͏͏ IPO-bound͏͏ Swiggy and͏͏ Pine͏͏ Labs

Swiggy’s͏͏ IPO͏͏ Plans͏͏ and͏͏ Target͏͏ Valuation:

Investor͏͏ Interest:

Continue͏͏ Exploring:͏͏ Swiggy attracts͏͏ celebrity͏͏ investors:͏͏ Rahul͏͏ Dravid,͏͏ Karan͏͏ Johar͏͏ &͏͏ others͏͏ invest͏͏ in͏͏ pre-IPO͏͏ round

Financial͏͏ Performance:

Crunchy͏͏ and͏͏ Convenient:

Continue͏͏ Exploring:͏͏ Tata Soulfull unveils͏͏ Masala͏͏ Muesli͏͏ with͏͏ bold͏͏ Indian͏͏ flavours

Expanding͏͏ the͏͏ Millet Portfolio:

Supporting͏͏ ‘Desh͏͏ ke͏͏ Millets’͏͏ Initiative:

Continue͏͏ Exploring:͏͏ Marico͏͏ expands͏͏ Saffola͏͏ range͏͏ with͏͏ launch͏͏ of͏͏ Masala͏͏ Millets in͏͏ two͏͏ flavours

Complete͏͏ Overhaul͏͏ of͏͏ Excise͏͏ Policy:

Continue͏͏ Exploring:͏͏ Andhra Pradesh to͏͏ unveil͏͏ new͏͏ liquor policy focusing͏͏ on͏͏ quality͏͏ and͏͏ premium͏͏ outlets

Affordable͏͏ Options͏͏ for͏͏ Low-Income͏͏ Groups:

Aiming͏͏ to͏͏ Boost͏͏ Sales:

Lottery͏͏ System͏͏ for͏͏ Licensing:

Continue͏͏ Exploring:͏͏ Big͏͏ liquor and͏͏ beer͏͏ brands͏͏ to͏͏ make͏͏ a͏͏ comeback͏͏ in͏͏ Andhra Pradesh

Growth͏͏ in͏͏ Packaged͏͏ Food͏͏ Sector:

Continue͏͏ Exploring:͏͏ Sustainable͏͏ packaging firm͏͏ Xolopak͏͏ India͏͏ secures͏͏ investments͏͏ from͏͏ Bollywood͏͏ celebrities͏͏ and͏͏ leading͏͏ investors͏͏ in͏͏ pre-IPO͏͏ round

Technology͏͏ Advancements͏͏ in͏͏ Packaged͏͏ Food:

Continue͏͏ Exploring:͏͏ Pakka͏͏ launches͏͏ new͏͏ range͏͏ of͏͏ compostable͏͏ flexible͏͏ packaging solutions͏͏ for͏͏ FMCG͏͏ industry

Significant͏͏ Year-on-Year͏͏ Increase:

Continue͏͏ Exploring:͏͏ UPI transactions͏͏ rise͏͏ 3.6%͏͏ month-on-month͏͏ to͏͏ 14.96͏͏ Bn͏͏ in͏͏ August

Dominance͏͏ of͏͏ Key͏͏ Players:

Potential͏͏ Changes͏͏ to͏͏ Market͏͏ Share͏͏ Cap:

Global͏͏ Promotion͏͏ of͏͏ UPI:

Continue͏͏ Exploring:͏͏ POP͏͏ grows͏͏ 100%͏͏ month-on-month,͏͏ reaches͏͏ 1͏͏ Mn͏͏ monthly͏͏ UPI transactions͏͏ in͏͏ just͏͏ two͏͏ months

Continue͏͏ Exploring:͏͏ Indian Beverage Association urges͏͏ government͏͏ to͏͏ exclude͏͏ carbonated͏͏ beverages͏͏ and͏͏ juice-based͏͏ drinks͏͏ from͏͏ ‘sin͏͏ taxes’

Projected͏͏ Growth͏͏ of͏͏ the͏͏ Sector:

Global͏͏ Consensus͏͏ on͏͏ Sugar-Based͏͏ Taxation:

Continue͏͏ Exploring:͏͏ Centre͏͏ targets͏͏ $1͏͏ billion͏͏ exports͏͏ of͏͏ alcoholic͏͏ beverages as͏͏ global͏͏ demand͏͏ grows

A͏͏ Diverse͏͏ Menu͏͏ for͏͏ All͏͏ Tastes:

Continue͏͏ Exploring:͏͏ With͏͏ fresh͏͏ INR͏͏ 200͏͏ Mn͏͏ in͏͏ funding,͏͏ 99 Pancakes targets͏͏ rapid͏͏ expansion͏͏ across͏͏ India

Signature͏͏ Beverages͏͏ Enhance͏͏ the͏͏ Experience:

Continue͏͏ Exploring:͏͏ 99 Pancakes raises͏͏ INR͏͏ 200͏͏ Mn͏͏ for͏͏ pan-India͏͏ expansion

Continue͏͏ Exploring:͏͏ Nomad Pizza expands͏͏ footprint͏͏ with͏͏ new͏͏ Bangalore͏͏ restaurant

Revolutionising͏͏ Pizza͏͏ Delivery:

Expansion͏͏ Goals:

Continue͏͏ Exploring:͏͏ Nomad expands͏͏ beyond͏͏ cloud͏͏ kitchen,͏͏ introduces͏͏ full-service͏͏ restaurant͏͏ in͏͏ Delhi