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Mukesh Ambani Commits ₹75,000 Cr to North-East: Reliance to Boost Retail, Jobs, and Rural Incomes Across 8 States

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Mukesh Ambani Commits ₹75,000 Cr to North-East: Reliance to Boost Retail, Jobs, and Rural Incomes Across 8 States

At the Rising NorthEast Investors Summit held on Friday, Reliance Industries Chairman Mukesh Ambani announced an ambitious ₹75,000 crore commitment aimed at reshaping the economic landscape of India’s North-Eastern states over the next five years. A major part of this investment will go into expanding Reliance Retail’s footprint and strengthening the company’s supply chain across the region.

Retail is just one piece of Reliance’s larger vision for the North-East, which also includes plans in renewable energy, telecom, consumer goods manufacturing, healthcare infrastructure, and even sports. Ambani said the company intends to source more fruits, vegetables, grains, and local handmade products directly from the region — with a goal of integrating more farmers and artisans into its growing national supply network.

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“We see enormous potential in the culture, talent, and energy of the North-East,” Ambani said, describing the region as one of the most youthful and rapidly progressing parts of the country. “Reliance wants to ensure that local communities directly benefit from this growth.”

So far, Reliance has put in ₹30,000 crore in the North-East over the last 40 years. Now, that number is set to more than double. The expanded investment is expected to create over 2.5 million direct and indirect jobs across eight states — Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura.

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As part of the announcement, Ambani outlined six key promises to the Chief Ministers of these states, aimed at increasing rural incomes, encouraging entrepreneurship, and bringing world-class infrastructure and opportunities closer to the people of the region.

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Honasa Consumer Posts ₹534 Cr Q4 Revenue, Net Profit Slides 16% Despite Mamaearth’s Distribution Overhaul

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Honasa Consumer Posts ₹534 Cr Q4 Revenue, Net Profit Slides 16% Despite Mamaearth’s Distribution Overhaul

Mamaearth’s parent company, Honasa Consumer, posted operating revenue of ₹534 crore for the January–March 2025 quarter — a 13.3% jump compared to the same period last year. The uptick hints at the company regaining its footing after months of offline channel upheaval that had dented its recent performance.

Despite the revenue rise, profits took a hit. Net income dropped to ₹25 crore, down from ₹30 crore a year earlier. This slip comes even as sales picked up, pointing to lingering costs from a major overhaul of Honasa’s distribution strategy. Dubbed Project Neev, the initiative replaced the traditional wholesale model with direct distribution in India’s 50 largest cities — a shift launched in the second quarter of FY25.

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For the full financial year, Honasa reported operating revenue of ₹2,067 crore — up 7.66% from ₹1,920 crore the previous year. Total income touched ₹2,146 crore. Still, annual net profit fell to ₹73 crore from ₹110 crore in FY24, showing the financial drag from the transition hasn’t fully eased yet.

Back in the July–September quarter, the changes took a sharper toll. Honasa saw revenues drop 7% year-on-year and recorded a ₹19 crore net loss, largely due to a hefty ₹63.5 crore provision for sales returns tied to the new distribution model. The company had phased out indirect wholesalers in favor of billing directly to distributors — a move aimed at tightening control over margins and boosting efficiency.

In a conversation with The Economic Times, Varun Alagh, Co-founder and CEO of Honasa, said the company believes the most disruptive phase is now behind it. “We expect the benefits of this transition to start showing clearly in the next fiscal,” he said.

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The direct distribution model has already doubled Honasa’s offline presence — expanding from 50,000 to 100,000 stores. The company now aims to reach 150,000 retail points in the next year.

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Disrupting the Brew Game: How Sardar-Ji-Bakhsh Is Using Street Cred, Affordable Indulgence, and Smart Franchising to Scale Across India

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Disrupting the Brew Game: How Sardar-Ji-Bakhsh Is Using Street Cred, Affordable Indulgence, and Smart Franchising to Scale Across India

When Sardar-Ji-Bakhsh Coffee & Co. opened its first café in December 2017, the goal was simple, to serve great coffee that felt accessible. Before launching its physical stores, the brand began with humble mobile carts, laying the groundwork for a community-focused approach to coffee.

Today, with Kavalpreet Kaur steering the brand as its Chief Business Officer, that vision continues to evolve with greater ambition and refinement. “We still believe most people in India don’t have access to a genuinely good cup of coffee,” she says. “That’s what we’re solving for: good coffee, made approachable.” The brand has also expanded its focus beyond coffee, offering freshly prepared food made live in each café’s kitchen. Nothing is frozen or outsourced.

Founder and Chief of Execution Sanmeet Kalra adds, “We’ve always believed in staying close to our customer. Starting with carts helped us understand what people really wanted. That’s what shaped our entire brand philosophy.”

Rohit Kamboj, Co-founder and Chief of Operations, echoes this: “Execution has always been at the heart of our growth. From training staff to sourcing ingredients, we’ve kept every detail in-house to retain control over quality.”

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Their local-first mindset also influences how they choose locations. “We aim to build neighborhood cafés,” says Kaur. “Not mall outlets or high-end plazas. Just places you can walk to from home.” The result is a loyal customer base, with 60 to 70 percent of footfall coming from regulars who visit daily.

What sets Sardar-Ji-Bakhsh apart from global chains like Starbucks isn’t just its pricing or Indian identity. It’s their commitment to freshness. From dressings to sandwich spreads, everything is made in-house. Even new product development is done in a hands-on, experimental way. One standout example is their Bengaluru Iced brew, a beverage that blends espresso with instant coffee and became an unexpected hit.

“That drink was born out of a late-night experiment,” recalls Kalra. “We just tried something unconventional, and customers loved it.”

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With dozens of cafés open and several more on the way, the brand aims to reach 100 locations within the next three years. Maintaining consistency is key. Each café has its own kitchen, but standard recipe books, thorough training, and regular audits ensure quality stays intact.

“Scale without compromise has been our biggest challenge and our biggest win,” says Kamboj. “We’ve managed to grow fast, but not at the cost of what makes us special.”

Their marketing strategy is also deeply local. Rather than pushing a one-size-fits-all identity, each café reflects the character of its neighborhood, with local art, games, and books adding a personal touch. The aim is to create a space that feels familiar, not flashy.

Looking ahead, Sardar-Ji-Bakhsh Coffee & Co. has plans to explore airport outlets and even international expansion. For now, the focus remains on deepening their presence in India and growing a coffee culture that’s warm, authentic, and centered on the everyday consumer.

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BlackCarrot Raises Pre-Seed Round Led by Venture Catalysts; Neha Dhupia, Agnello Dias Join Health-First Dinnerware Bet

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BlackCarrot Raises Pre-Seed Round Led by Venture Catalysts; Neha Dhupia, Agnello Dias Join Health-First Dinnerware Bet

BlackCarrot, a rising brand that’s setting out to redefine what Indian homes put on their dining tables, has just closed its pre-seed funding round — pulling in capital from some well-known names in venture capital and entertainment.

The round was spearheaded by Venture Catalysts, with additional support from We Founder Circle, EvolveX Accelerator, GX Ventures, and Suraj Nalin, the co-founder of PlaySimple Games. Bollywood actor Neha Dhupia and advertising veteran Agnello Dias — former Chief Creative Officer at JWT — have also come on board as investors. Notably, Neha Dhupia made her first investment in BlackCarrot back in April 2024.

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The brand was co-founded by Yadupati Gupta, who previously worked in investment banking with J.P. Morgan and Avendus Capital, and Vishal Gupta, who brings years of experience from Wipro Consumer Care and VIP Luggage. The duo says BlackCarrot was born out of a simple question: why can’t dinnerware be stylish, safe, and rooted in conscious living?

BlackCarrot’s product line includes ceramicware free from Bone China (no animal bone ash), lead-free glassware, and food-grade stainless steel cutlery — aiming to serve modern Indian households that care as much about what’s on the table as what’s in it.

“BlackCarrot isn’t just another lifestyle brand — it’s a movement toward more mindful living,” said Dhupia. “It brings together design, health, and heritage in a way that’s rare in this category.”

The startup isn’t wasting any time in getting in front of customers either. Its products are now available on platforms like Myntra, Amazon, Flipkart, Nykaa Fashion, and Tata Cliq Luxury. It’s also made inroads into physical retail through Nature’s Basket and Food Square, and has partnered with Zepto — led by Aadit Palicha — to offer rapid delivery in select cities.

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With its funding round closed and momentum building, BlackCarrot looks ready to take a bigger bite of India’s booming home and lifestyle market.

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Paytm Founder Outsmarts WhatsApp Scammer Pretending to Be Him — Exposes .exe Fraud with Wit and a Landline Number

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Paytm Founder Outsmarts WhatsApp Scammer Pretending to Be Him — Exposes .exe Fraud with Wit and a Landline Number

In a twist worthy of a comedy sketch, Paytm’s founder and CEO Vijay Shekhar Sharma found himself at the receiving end of an amateur scam attempt — from a fraudster claiming to be him.

Sharma shared the hilarious incident on social media platform X, posting screenshots of a WhatsApp conversation where the impersonator, using Sharma’s name and photo, kicked off the conversation with the straight-faced opener: “Are you in the company now?”

Rather than blocking the number, Sharma decided to play along. The fake “Vijay Shekhar Sharma” quickly got down to business — asking Sharma to check Paytm’s company funds and send over a screenshot. “Tum company ke accounts check karke batao ki company ke available funds kitney hey?” the message read.

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Keeping a poker face, Sharma responded like a dutiful employee. He claimed he wasn’t in finance and directed the imposter to reach out to the accounts team. When asked for their contact, Sharma offered up a generic landline number, then innocently followed up: “Aage kya karu?” (What should I do next?)

The scammer, undeterred, pushed forward. Next came an attachment: a shady-looking .exe file labeled “GSTSuvidha-Signed(7).exe.” Sharma was asked to forward it to the finance head — supposedly to process something related to GST filings.

Playing dumb (but sharp), Sharma responded that the file wouldn’t open — Windows flagged it as suspicious. He added, quite cheekily, that their finance team doesn’t even use Windows systems.

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Frustration crept in. The scammer snapped, insisting, “Arrey pagal, ye videos nahi hey, ye file hey,” and even accused Sharma of acting like a lazy middleman delaying their “important task.”

Then came Sharma’s most savage reply — “सर, मेरा सैलरी का देख लीजिए। हमारा अभी तक बढ़ा ही नहीं है 🙏🏻” — a tongue-in-cheek jab about his salary not being raised yet. Completely oblivious, the scammer fired back angrily, still under the impression they were scolding a junior staffer: “Abhi taak tum mujhye wk number nahi dey aur tum mujhse expect karte ho ki tumhhari mey salary increase.”

The scam collapsed into absurdity, but not before delivering a lesson in cybercrime irony: if you’re going to impersonate someone, make sure it’s not the person you’re actually messaging.

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Flipkart Sells 6 Million Ethnic Wear Pieces in a Year — 90% Repeat Buyers, Tier 3 Cities Power 55% of Sales

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Flipkart Sells 6 Million Ethnic Wear Pieces in a Year — 90% Repeat Buyers, Tier 3 Cities Power 55% of Sales

In the past year, over 6 million shoppers turned to Flipkart for their ethnic fashion needs — and nearly 9 out of 10 of them came back for more. The surge in repeat purchases highlights not just customer satisfaction but a broader shift: ethnic wear is no longer limited to festivals and weddings; it’s becoming part of the everyday wardrobe across India.

Young adults, especially those aged between 25 and 35, make up the largest slice of this growing audience. And the demand isn’t confined to one region. Whether it’s the streets of Bengaluru or the lanes of Guwahati, daily ethnic wear is finding a strong foothold. Cities like New Delhi, Kolkata, Hyderabad, Patna, Lucknow, Chennai, Pune, and Mumbai are also fueling this trend.

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What’s also interesting is who’s buying what. Women drive 65% of purchases in the women’s ethnic category, while men are behind a whopping 88% of sales in men’s ethnic wear. The appeal of ethnic fashion is growing rapidly in India’s heartland too — smaller towns and Tier 3 cities now account for more than half of all ethnic wear shoppers on the platform.

“Ethnic clothing has become a bridge between local culture and digital convenience,” said Kunal Gupta, Vice President at Flipkart Fashion. “We’re seeing an incredible wave of new shoppers from Tier 2 and Tier 3 cities, where there’s deep cultural affinity for traditional wear, combined with rising comfort with online shopping.”

People are shopping for ethnic wear not just for big occasions, but also for everyday use — whether it’s work, college, casual outings, or smaller celebrations. Sales tend to spike during India’s festive months (August to November) and around wedding seasons (November to February, and again in April and May).

Artisan-focused labels like Konark, Shishir, and Wreetika are making waves alongside well-known national names such as Libas, Indo Era, Janasya, and Mirchi Fashion — showing that tradition and trend can thrive together on a modern platform.

Kurta sets are the current favorites, making up 42% of ethnic fashion sales on Flipkart, followed by sarees at 24%, and kurtis holding steady at 18%.

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Since its founding in 2007, Flipkart has built a registered user base of over 500 million and today offers more than 150 million products across 80 categories. With over 1.4 million sellers now active — including many on its Shopsy platform — Flipkart continues to be a leading force in how India shops, blends tradition with convenience, and redefines everyday fashion.

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ITC’s Q4 Profit Skyrockets 295% to ₹19,807.8 Cr, FY25 Net Surges 69% — Board Declares ₹7.85 Dividend Despite Flat Revenue

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ITC’s Q4 Profit Skyrockets 295% to ₹19,807.8 Cr, FY25 Net Surges 69% — Board Declares ₹7.85 Dividend Despite Flat Revenue

ITC Ltd delivered a striking performance in the final quarter of the financial year, with its consolidated net profit soaring nearly four times to ₹19,807.8 crore for the three months ending March 31. This is a substantial leap from ₹5,013.18 crore posted in the same period last year, as per the company’s latest regulatory filing.

Interestingly, the topline growth didn’t follow the same dramatic trajectory. Revenue from operations for the quarter came in almost unchanged at ₹20,376.3 crore, compared to ₹20,349.9 crore in Q4 of the previous fiscal.

Looking at the full year, ITC recorded a strong bottom-line growth, with net profit for FY25 rising 68.9% to ₹35,052 crore, up from ₹20,751 crore in FY24. Total revenue from operations stood at ₹81,612.78 crore, marking a year-on-year increase of 10.4%.

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As a reward to its shareholders, ITC’s board has proposed a final dividend of ₹7.85 per share (face value ₹1) for the financial year ended March 2025.

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Despite the impressive profit numbers, ITC’s stock closed 1.58% lower at ₹426.10 on the BSE on Thursday. The company announced its earnings after trading hours.

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De Beers CEO Al Cook Predicts India’s Diamond Jewellery Market Will Double to $20 Billion by 2030, Plans 100 Forevermark Stores”

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De Beers CEO Al Cook Predicts India’s Diamond Jewellery Market Will Double to $20 Billion by 2030, Plans 100 Forevermark Stores”

De Beers is setting its sights firmly on India, with expectations that the country’s appetite for diamond jewellery could double by the end of the decade. Al Cook, the global CEO of De Beers Group, shared that India has overtaken China to become the second-largest market for natural diamond jewellery — a major milestone for the company.

“We’ve seen double-digit growth year after year,” Cook said during a media briefing. “Right now, India’s demand for natural diamond jewellery is just under $10 billion, and it’s rising at about 12% annually. At this pace, we believe it will more than double by 2030.”

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To keep pace with this growth, De Beers is rolling out its Forevermark brand across India. The company is kicking off with four new stores—two in Delhi and two in Mumbai—over the coming months. But that’s just the start. Cook outlined an ambitious plan to grow the footprint to more than 100 stores across the country within five years.

Amit Pratihari, De Beers India’s Managing Director, explained the company’s strategy: “We’re not just opening stores for the sake of scale. This is a focused expansion. We’ll take a cluster-based approach—fully develop one market before moving on to the next. And while we’re doing that, we’re also going digital with an e-commerce platform launching alongside our physical stores.”

The expansion plan includes both company-owned and franchise-operated outlets, not only in major metros but also in emerging Tier II and Tier III cities where there’s a growing aspirational class of buyers.

While De Beers is doubling down on natural diamonds, it’s pulling back from lab-grown ones. Cook confirmed the company’s decision to shut down its Lightbox lab-grown diamond jewellery line, citing a strategic pivot.

“We believe the real future of lab-grown diamonds lies in technology and industry, not jewellery,” he said. De Beers’ subsidiary Element Six will focus on advanced applications like semiconductors and data centers—areas where India is investing heavily in its tech infrastructure. “We see a real opportunity to collaborate and contribute meaningfully to India’s digital ambitions.”

On pricing, Cook noted that the cost of lab-grown diamonds has nosedived, with wholesale prices in the jewellery segment plunging by about 90%. “There’s a growing awareness among consumers that natural and lab-grown diamonds are not the same,” he added. “Tools like Diamond Proof are helping bust the myth that you can’t tell the difference.”

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With India becoming a central player in De Beers’ global strategy, Cook also touched on marketing. “Our 2025 marketing budget for natural diamonds will be the highest we’ve committed in the past 10 years,” he revealed.

On the topic of global trade, particularly in light of new U.S. tariffs, Cook was optimistic. “There are no natural diamond mines in the U.S., just like there’s no gold production. That’s why we believe natural diamonds will be exempt from these tariffs, as they’ve done with other non-domestic resources.”

With India emerging as a diamond powerhouse, De Beers is clearly not just watching the market—they’re moving fast to shape it.

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Shah Rukh Khan’s Family Bets on AI-Powered Mythology Startup Mythik, Joins $15M Seed Round

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Shah Rukh Khan’s Family Bets on AI-Powered Mythology Startup Mythik, Joins $15M Seed Round

Mythik raises $15M seed round to modernize Indian mythology, blending culture, tech, and storytelling under founder Jason Kothari.

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The Mumbai-based company is off to a strong start, attracting funding from several high-profile backers. Among the investors are Sakal Media Group, gaming-focused firm BITKRAFT, VC Grid, Visceral Capital, the family offices of Bollywood icon Shah Rukh Khan and the Patni business family. The company plans to use this capital to expand both its content slate and technical capabilities.

What sets Mythik apart is its mission: to breathe new life into Indian epics, folk tales, and historical sagas through short, visually compelling videos. These aren’t the traditional, long-format retellings you might expect. Each episode runs about 10 to 12 minutes, making it easy for today’s viewers to engage with stories that have shaped Indian culture for centuries.

Titles such as Ram vs Ravan: The Final Duel, Shakuni’s Story, and The Women of Ramayan have already begun to draw attention. With high production value and a narrative-driven approach, Mythik aims to make mythological storytelling feel fresh and exciting, especially for younger generations who may not have grown up with these tales.

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As India’s appetite for high-quality, culturally rooted content grows, Mythik’s timing couldn’t be better. The company is betting big on the idea that the country’s rich narrative heritage—told in a new format—can carve out a significant space in the entertainment landscape.

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FSSAI Cracks Down on Lapsed Food Licenses: Mandatory Closure Reports Now Compulsory for Over 10 Lakh+ FBOs in FY 2024-25

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FSSAI Cracks Down on Lapsed Food Licenses: Mandatory Closure Reports Now Compulsory for Over 10 Lakh+ FBOs in FY 2024-25

New Delhi, May 16, 2025 — The Food Safety and Standards Authority of India (FSSAI) has issued a new directive requiring all Food Business Operators (FBOs) whose licenses or registrations expired during the financial year 2024-25 to submit a mandatory Closure Report. The move is aimed at tightening compliance and maintaining traceability in India’s food safety system.

According to the order, FBOs must confirm that no food business activity is being carried out under expired FSSAI licenses. If operations are ongoing, businesses must provide proof of a new license or registration. Additionally, those not renewing their licenses are required to state specific reasons for the decision.

The new regulation is applicable to all future cases as well. Once a license expires, the FBO will be required to file a report through the Food Safety Compliance System (FoSCoS) portal. This includes explaining why the business is shutting down or why the license is not being renewed.

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The FSSAI emphasized that running a food business under an expired license violates Section 31 of the Food Safety and Standards Act, 2006. Offenders could face penalties of up to ₹10 lakh under Section 63 of the Act.

To streamline communication, FSSAI is also sending automated email alerts titled ‘Notice for closure of food business’ to operators whose licenses have lapsed. Businesses are advised to ensure that their contact information on the FoSCoS portal is current in order to receive such notifications.

A user manual to guide businesses on submitting non-renewal reasons through the portal has been included with the order. This initiative is part of FSSAI’s broader compliance strategy, reinforcing accountability across the food industry.

The circular was signed and approved by Dr. Satyen Kumar Panda, Executive Director (Compliance Strategy), and circulated to food business operators, safety officers, regional commissioners, and IT divisions.

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As FSSAI tightens enforcement, the focus is clearly shifting toward improving transparency in food licensing — an important step for public health and consumer safety in a rapidly growing food business environment.

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