Challenging the dominant position of Zomato and Swiggy in the online food delivery market, the Open Network for Digital Commerce (ONDC), a government-led initiative, announced on Monday that it has successfully onboarded 50,000 restaurants onto its platform for accepting online orders. This development spans across 172 cities, showcasing the growing influence of ONDC in the sector.
The count of restaurants within the Open Network experienced an exponential surge, soaring from 500 in February 2023 to a remarkable 50,000 by August 2023.
T. Koshy, MD and CEO at ONDC said, “What started with our first order in September 2022, the Network has onboarded over 50,000 restaurants till now. As we continue to grow and expand, we are excited about the future of online food delivery in the ecommerce ecosystem and our role in shaping it.”
According to ONDC, the accomplishment was largely attributed to the pivotal role played by Seller Network Participants (NPs) such as Magicpin, uEngage, Bitsila, EkSecond, Growth Falcons, Mystore, nStore, and eSamudaay.
By the end of 2023, ONDC aims to double the existing count of restaurants. Through Buyer Apps like Paytm, Pincode, Magicpin, Mystore, and more, customers can seamlessly place their food orders online via the ONDC Network.
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This exquisite hotel is all set to welcome guests starting from October 2023
Renest Hotels & Resorts is thrilled to announce the official opening of its newest establishment, the Renest Calangute Goa. This exquisite hotel is all set to welcome guests starting from October 2023.
Strategically positioned, this establishment offers the convenience of being just a brief 10-minute drive from Candolim beach, and a mere 15-minute journey to the famous Calangute Beach.
Renest Calangute Goa showcases 30 meticulously designed rooms that exude both luxury and comfort.
“As we elevate our ambitions for expansion throughout the nation, we are thrilled to unveil our latest establishment, Renest Calangute Goa. The burgeoning tourism, both from local and international travelers, in Goa is experiencing rapid growth, and we are enthusiastic about demonstrating our exceptional hospitality benchmarks to visitors exploring the state,” remarked Vishal Lonkar, General Manager of Brand Development at Renest Hotels & Resorts.
The restaurant’s menu skillfully combines the vibrant flavors of Indian, Asian, and European cuisines, creating a masterful blend of tastes.
The adept group of therapists at the hotel has thoughtfully curated an array of rejuvenating treatments, ranging from massages to facials, all designed to restore your balance and enhance your overall sense of well-being.
The property is located approximately 38 kilometers from Dabolim Airport, while the recently opened Manohar International Airport in Mopa, North Goa, is conveniently situated at a distance of just 29 kilometers.
Travelers have the option to reach Goa via Madgaon Railway Station, which serves as a stop for trains from prominent cities across India.
Other railway stations in Goa include Thivim, Karmali, and Vasco da Gama. The state is well linked through roadways, accessible through national highways, and regular bus services run from cities such as Mumbai, Pune, Hyderabad, and Bangalore.
Working alongside her students, she led the preparation of 2,500 food packages that were later distributed among those who are less fortunate.
To mark the seventh anniversary of the Pankaj Bhadouriya Culinary Academy, Pankaj Bhadouriya, the winner of the first season of MasterChef India in 2010, took the initiative to organize a community kitchen event. Working alongside her students, she led the preparation of 2,500 food packages that were later distributed among those who are less fortunate.
Over 100 of her students engaged in the creation of the food parcels, investing nearly three full days in the project. The packages consisted of a diverse array of items, ranging from millet cookies and cupcakes to freshly harvested fruits.
“We make it a point to organise the community kitchen annually as a part of our anniversary celebration,” Bhadouriya expressed. “In Indian culture, food is intertwined with our significant occasions, spanning from birthdays to funerals. We aimed to convey this sentiment by extending it to the underprivileged.”
She added that this initiative also plays a role in fostering the comprehensive development of her students.
“This endeavour emphasises work ethic. Culinary expertise transcends mere recipes and plating; it encompasses the joy and emotions that emanate from nourishing others. I aspire for my students to carry this profound intention as they delve into the world of culinary arts,” Bhadouriya stated.
The academy established affiliations with a variety of non-profit organizations, such as Ummeed NGO, Sarthak NGO, Prabhat, and various others. Through this collaboration, they were able to provide support to marginalized communities by distributing the food packages.
Prominent bureaucrats, politicians, and notable figures also participate in endorsing and increasing awareness of the event, along with the marginalized communities it aims to support.
Bhadouriya added, “My students thrive under the pressure of such responsibilities.” She referred to the challenge of preparing and packaging 2,500 units of food within a mere three days. “Among my students, there are two groups of bakers and three groups of culinary arts students who have dedicated themselves to this project over the past three days,” she pointed out.
These exclusive bottles will be on offer across Kerala, as well as in select cities in Tamil Nadu.
Bisleri, the foremost brand in packaged drinking water in India, has joined forces with the highly anticipated Mollywood film “King of Kotha,” which stars the beloved heartthrob of the industry, Dulquer Salmaan. This collaboration showcases Dulquer Salmaan’s image on exclusive Bisleri bottles, available in three sizes: 500 ML, 1 Litre, and 2 Litre. These exclusive bottles will be on offer across Kerala, as well as in select cities in Tamil Nadu, including Coimbatore, Pollachi, Tirupur, Nagercoil, Tenkasi, and Theni.
Commenting on the collaboration, Tushar Malhotra, Head of Marketing, Bisleri International Pvt. Ltd., said, “Through the limited-edition pack collaboration with King of Kotha, we aim to strengthen our local brand love in Kerala and select cities of Tamil Nadu by providing an exciting experience to both our consumers and trade partners.”
Also commenting on the collaboration, Wayfarer Films Private Ltd. & Zee Studios said, “Much like the south film industry, Bisleri has carved a special place in the hearts of millions. This collaboration allows us to connect with audiences in new and engaging ways with Dulquer Salmaan’s collectible on the limited-edition bottles, thereby creating a memorable experience beyond the silver screen.”
Remaining committed to its hyper-local strategy, the company further reinforces cultural subtleties through its continuous collaboration with South Indian cinema. The limited-edition King of Kotha packs serve as a tribute to the opulence of Malayalam cinema, simultaneously honoring the captivating charisma of Dulquer Salmaan. These packs will receive extensive promotion across a network of more than 12,000 points of sale, encompassing both general and modern trade outlets in Kerala, as well as chosen urban centers within Tamil Nadu. Furthermore, they will be conveniently accessible online through the Bisleri @Doorstep App.
With a heritage spanning over half a century, Bisleri International Pvt. Ltd. has flourished into one of India’s premier beverage enterprises. Renowned as the producer of the nation’s highest-selling packaged drinking water, Bisleri meticulously adheres to a rigorous process involving 114 quality assessments and a comprehensive 10-stage purification procedure. This unwavering commitment echoes its fundamental principle of delivering pure, safe, and wholesome water to consumers.
Bisleri International boasts a formidable presence with 128 operational facilities and a robust distribution network encompassing more than 6,000 distributors and 7,500 distribution trucks, serving both India and neighboring countries. Its portfolio comprises a spectrum of beverages tailored for diverse occasions. From the commitment to goodness, trust, and purity embodied by Bisleri Mineral Water, to the daily wellness offered by Vedica Himalayan Spring Water, the company caters to various preferences. Furthermore, Bisleri International has delved into the realm of enjoyable refreshments, offering an array of carbonated beverages available in a multitude of flavors, including Pop, Rev, Limonata, and Spyci Jeera. These products can also be conveniently acquired through the Bisleri @Doorstep e-commerce platform, ensuring a secure and uninterrupted supply of the consumer’s most trusted brand directly to their homes.
At the heart of Bisleri International’s ethos lies the pursuit of growth intertwined with a commitment to sustainability, demonstrated through responsible practices across all facets of its operations. The organization has unveiled “Sustainability 2.0” through the Bisleri Greener Promise initiative, focused on forging a more sustainable future for all. This endeavor involves the implementation of various initiatives centered around recycling, water conservation, and sustainability, reflecting the company’s dedication to fostering a greener world.
Basic food items such as cereals and pulses are not expected to provide immediate relief due to rising global prices and low domestic cultivation.
A research report by brokerage firm Prabhudas Lilladher suggests that there is an increased probability of inflation staying above 7 percent in August.
During July, India experienced a notable rise in CPI inflation, hitting a 15-month high at 7.44 percent. This marked a substantial increase from June’s 4.81 percent. These figures highlight two main observations regarding July’s inflation scenario. Firstly, the main factor behind this surge in inflation was the escalation in food prices.
Secondly, the inflation is not solely linked to vegetables, particularly tomatoes. Instead, a broader array of food products, encompassing cereals, pulses, and spices, have collectively contributed to the escalation in prices.
The report stated that the combination of climate risks posed by unpredictable weather and fluctuating rainfall patterns, coupled with an increase in global food inflation, led to a significant and unexpected surge in domestic food prices in July 2023.
“El Nino can turn out to be a potential potboiler for food inflation in coming months. We have seen sharp increase in food inflation in last two months mainly due to damage to a few crops and unseasonal weather pattern,” the report said.
Pulses cultivation has decreased by 9.2 percent, and oilseeds sowing is reduced by 1.7 percent. This is expected to have an effect on the production of moong, toor, urad, and spices.
“Dry climate in the coming couple of months can impact height, density and yields of pulses in a major way as their cultivation is done more in the rain-fed areas. We note that prices of some of the spices are on the boil and don’t rule out higher prices of pulses and oilseeds,” the report said.
“We believe high inflation can be a political hot potato in an election year, forcing govt to slow down capex,” it added.
According to a report by Motilal Oswal Financial Services, the monsoon in August has deviated considerably from the long-term average, experiencing a shortfall of 30 percent.
Especially in the southern regions of India, there have been noticeably arid conditions.
After starting the month on a positive note with a 5 per cent surplus due to a wet July, the monsoon took a downturn in August, with an overall deficit of 7 per cent as on August 20, the report said.
The Northwest region (6 percent above normal) has encountered rainfall exceeding the usual levels, while Central India (2 percent below normal), the South Peninsula (13 percent below normal), and the Eastern and Northeastern regions have observed inadequate rainfall patterns (20 percent below normal).
El Nino has progressed from a “weak” to a “moderate” state, as indicated by the most recent report from US weather agencies. According to this update, there is a 66 percent likelihood of it intensifying into a strong event later in the year.
As of August 18, Kharif sowing is slightly elevated by 0.1 percent compared to the previous year. The expanse dedicated to paddy cultivation has grown by 4.3 percent in comparison to last year. However, the cultivation area for pulses remains notably lower by 9.2 percent compared to the preceding year. Additionally, production of jute, cotton, and oilseeds has also experienced a decline.
According to the report, coarse cereals (up by 1.6 percent year-on-year) and sugarcane (up by 1.3 percent year-on-year) are maintaining their positive performance.
The reduction in irrigation coverage across key states might exert a more noticeable influence on pulses production. Inflation within the pulses category has almost doubled over the last five months. Inadequate rainfall, leading to decreased cultivation of rice and pulses, has contributed to the upward surge in prices.
Rice holds a weight of approximately 4.4 percent, while pulses account for around 6 percent in the overall CPI basket.
Sujan Hajra, Chief Economist and Executive Director at Anand Rathi Shares and Stock Brokers, mentioned that the significant increase in food inflation and other potential factors contributing to upward inflationary pressures could prompt the RBI to consider a minimal rate hike, primarily to stabilize inflationary expectations.
This is even more probable due to the RBI’s perspective that inflation is predominantly a monetary phenomenon, necessitating monetary policy measures for its regulation, regardless of whether it stems from supply-side or demand-side factors.
These have adverse implications for the financial markets, Hajra said.
The case for a rate cut in the next 12 months seems to have vanished with adverse consequences for the financial markets, including debt and equity.
Apart from high food inflation, the sharp jump in global crude oil and grain prices are serious concerns. While edible oil inflation is currently extremely benign, the global El Nino effect can change the situation. Progressive softening of core inflation is a silver lining.
At 7.4 per cent in July, India recorded the highest inflation in the last 15 months. On an annualised basis, food inflation jumped nearly 70 per cent and fuel more than 20 per cent, resulting in an over 50 per cent jump in non-core inflation. The silver lining included the year on year fall in fuel and core inflation, Hajra added.
The year-on-year food inflation jumped from 4.7 per cent in June to 10.6 per cent in July.
While above 200 per cent inflation in tomato was a major driving force, many other items under fruit and vegetables recorded high inflation chiefly on account of weather disturbances in the recent past, Hajra said.
On Sunday, the government announced its decision to prohibit exports of basmati rice priced below $1,200 per tonne. This measure aims to prevent potential instances of “illegal” transportation of white non-basmati rice masquerading as high-quality basmati rice.
The commerce ministry released a statement indicating that it has instructed the trade promotion entity APEDA not to approve contracts valued below $1,200 per tonne.
Contracts below $1,200 per tonne that are already in place have been temporarily suspended.
A committee headed by the chairman of APEDA will be established to assess and determine the upcoming course of action.
India had banned the export of non-basmati white rice on July 20 this year.
The statement read, “The Government has received credible field reports regarding misclassification and illegal export of non-basmati white rice, export of which has been prohibited with effect from 20 July 2023. It has been reported that non-basmati white rice is being exported under the HS codes of parboiled rice and Basmati rice.”
It said, “Contracts for Basmati exports with the value of $1,200 per MT only and above should be registered for issue of Registration – cum – Allocation Certificate (RCAC).”
“Contracts with the value of below $1,200 per MT may be kept in abeyance and may be evaluated by a committee to be set up by the Chairman, APEDA, for understanding the variation in prices and use of this route for export of non-Basmati white rice,” it said.
The statement also highlighted that there has been significant disparity in the contract prices of exported Basmati rice, ranging from the lowest contract price of $359 per metric ton, in contrast to the average export price of $1214 per metric ton observed during the present month.
The Committee is expected to deliver its report within a span of one month. Subsequently, a suitable decision can be made regarding the proposed exports of Basmati at lower prices, as envisaged by the industry.
The statement suggested that APEDA should engage in discussions with the trade sector to raise awareness about the issue and collaborate with them to discourage any exploitation of this opportunity for the export of white non-basmati rice.
Coca-Cola has committed to injecting an additional investment of INR 647 crore to establish new lines at the Siddipet greenfield plant, with an expected completion date of December 2024.
The investment will be separate from the one made in the Hindustan Coca-Cola Beverages (HCCB) plant in Ameenpur.
Executives from Coca-Cola held a meeting with a Telangana delegation headed by the state’s Industries Minister, KT Rama Rao, in New York.
Moreover, there are plans to establish a second greenfield manufacturing facility of comparable scale in either the Karimnagar or Warangal region.
Upon establishment of this new facility, Coca-Cola’s total investments in manufacturing capacities will surpass INR 2500 crore.
James McGreevy, Vice President (PPGR) at Coca-Cola in New York, highlighted that India ranks as the third-largest market for Coca-Cola globally.
“Coca-Cola had significant plans to increase its presence and capacities in India.” As a part of this expansion, in 2020, HCCB invested INR 142 crore for the expansion of the Ameenpur plant,” said the VC.
Regarding the Siddipet plant, HCCB entered into a Memorandum of Understanding with the Government of Telangana on April 7, 2022, pledging an investment of INR 1000 crore.
“Bolstered by the support from the Telangana government and strong growth in the region, the company has decided to double its investments,” said officials.
Within the fresh Organic Herd lineup, you can anticipate an array of offerings such as cheddars, butters, and an assortment of flavored butters.
Farmer-owned dairy cooperative Omsco has unveiled its fresh identity and will operate under the trade name Organic Herd from now on.
The rebranding aims to bolster Organic Herd’s aspiration of gaining acknowledgment as a sustainable cooperative of organic dairy farmers. With an aim to enhance its standing as a provider of top-notch organic dairy items, the cooperative seeks to also raise awareness about the inherent advantages of organic dairy.
The new name and identity align with the debut of an exclusive range of premium organic products, known as Organic Herd. The cooperative underscores that this value-added collection will not only showcase the finest in organic dairy but also differentiate it from the conventional dairy choices.
Martyn Anthony, Organic Herd’s CEO said, “The transition from being the Organic Milk Suppliers Cooperative (Omsco) to Organic Herd demonstrates the ongoing evolution of the business. From being simply a transactional supplier of organic milk to third-party processors, our new name reflects that we are now a more confident and more progressive business with a range of valuable customers, supply partnerships, products offerings and routes to market.”
He continued, “We believe our new, more relevant and relatable name will enable us to redefine and reinforce all that is great about organic dairy. It will enable us to engage more effectively with customers and consumers on the issues that they care about and make a compelling case for why they should choose organic dairy, which by its very nature is the original and only fully accredited regenerative dairy farming system.”
Describing its fresh identity as a pivotal element within an ambitious, far-reaching growth and developmental strategy, Organic Herd emphasizes its commitment to cultivating a more diversified business profile. This objective will be pursued by strengthening its enduring and sustainable supply alliances with committed dairy processors, food manufacturers, and food ingredient enterprises. Furthermore, the cooperative intends to expand its well-established global footprint and introduce a selection of inventive, value-added consumer products to the UK market.
Within the fresh Organic Herd lineup, you can anticipate an array of offerings such as cheddars, butters, and an assortment of flavored butters, including an enticing truffle-infused option. The selection also comprises soft cheeses in a ‘Port Salut style’, boasting two distinct and vibrant flavor variations: chocolate-infused and two variations of milk-based drinking chocolates. This diverse range is set to make its premiere at London’s Speciality Fine Food Fair in September, subsequently becoming available at select expert retailers, delicatessens, and farm shops throughout the United Kingdom.
Martyn Anthony added, “Our new name, identity, and premium product range, we believe, reflect and reinforce our core brand values of being collaborative, innovative, authentic and, above all, our preparedness to be bold to make a positive difference. We know we have much more to do but believe our new identity will be a catalyst to enhance and accelerate our mission of providing a sustainable future for our dairy farmers and the natural environment in which they farm.”
The Supreme Court on Friday granted permission for the completion of a forensic audit of Ruchi Soya Industries, now under the ownership of Baba Ramdev’s Patanjali Ayurved. Furthermore, the court instructed the previous management of Ruchi Soya Industries to fully cooperate in facilitating the audit process.
The audit was instigated upon the request of IDBI Bank, which is heading a consortium of lenders for Ruchi Soya.
“It is imperative that the fresh forensic audit be taken to its logical conclusion,” solicitor general Tushar Mehta told a bench led by Justice Sanjiv Khanna, adding the allegation involved misappropriation of INR 9,000 crore of public money advanced by banks.
Representing IDBI Bank, the Solicitor General (SG), along with lawyers Akshay Sapre and Abhijeet Swaroop, contended that solely a forensic audit could reveal any instances of financial mismanagement within the company. The bank additionally sought the reinstatement of contempt proceedings against Ruchi Soya’s former Managing Director, Dinesh Shahra. The bank argued that the audit had been impeded by Shahra’s lack of cooperation. The next hearing for this case is scheduled for January.
The consortium led by IDBI Bank has contested the June verdict of the Madhya Pradesh High Court, which dismissed their request to reinstate contempt proceedings against the former management of the company.
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