From Butter Chicken to Biryani: The Indian Dishes that Captivated Elon Musk’s Heart!

Luxury

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July 30, 2023

Elon Musk, the visionary entrepreneur and CEO of SpaceX and Tesla, has always been known for his relentless pursuit of innovation and exploration of new frontiers. While his ventures often dominate headlines, there’s one aspect of his life that has garnered attention outside the realm of technology – his love for Indian cuisine. From butter chicken to biryani, Indian dishes have captivated Elon Musk’s heart, becoming a culinary passion that has brought him closer to India’s rich cultural heritage and flavors.

The Fascination with Indian Cuisine:

Elon Musk’s fascination with Indian cuisine began during his early days as an entrepreneur. Frequent business trips to India exposed him to a diverse and vibrant culinary landscape that left a lasting impression on his palate. Musk found himself enamored by the array of spices, aromatic herbs, and bold flavors that characterize Indian dishes. He often remarked that he was captivated by the sheer complexity and depth of Indian cooking techniques, and it soon became a ritual for him to explore local eateries whenever he visited the country.

Butter Chicken: A Flavorful Delight

One dish that particularly captured Musk’s heart was the famous “Butter Chicken.” This delectable North Indian dish, known for its rich tomato-based gravy and tender chicken pieces, became a comfort food for Musk. Its creamy texture, combined with the perfect blend of spices, was a culinary experience that he cherished deeply. He even confessed on social media that he couldn’t resist having Butter Chicken whenever he visited an Indian restaurant, whether in the United States or abroad.

Biryani: A Royal Affair

Another Indian dish that found a special place in Elon Musk’s heart is the iconic “Biryani.” This flavorful rice-based dish, featuring fragrant basmati rice, succulent meat, or vegetables, and a blend of aromatic spices, left a lasting impression on him. Biryani’s amalgamation of flavors, perfected over generations, resonated with Musk’s innovative spirit. He appreciated the meticulous preparation that went into making this dish, often drawing parallels between the precision required in engineering and the art of cooking a perfect Biryani.

The Vegetarian Delights:

Though known for his love for non-vegetarian dishes, Musk also developed an appreciation for Indian vegetarian cuisine. He admired how Indian cooks skillfully used lentils, legumes, and vegetables to create wholesome and flavorful dishes. Musk’s vegetarian favorites included “Paneer Tikka” – succulent cottage cheese marinated in spices and grilled to perfection, and “Dal Makhani” – a creamy lentil dish that satisfied both his taste buds and ethical preferences.

The Tandoori Temptation:

Tandoori dishes, cooked in a traditional clay oven known as the “tandoor,” also found a place in Musk’s culinary adventures. The smoky and charred flavors of tandoori-cooked meats and vegetables intrigued him, and he often indulged in “Tandoori Chicken” and “Tandoori Gobi” (cauliflower), appreciating the perfect balance of spices and tenderness.

Cultural Connection through Cuisine:

Elon Musk’s love for Indian cuisine went beyond the mere enjoyment of flavors. It symbolized his deep appreciation for the cultural diversity and history of India. He believed that a nation’s cuisine was an essential window into its soul, reflecting the collective identity and traditions of its people. Musk’s exploration of Indian dishes acted as a conduit for him to connect with the country’s heritage, and he often spoke about the enriching experience of discovering India through its culinary treasures.

Final Thoughts:

Elon Musk’s love affair with Indian cuisine is a testament to the universal appeal of India’s flavors and culinary traditions. From the buttery goodness of Butter Chicken to the royal affair of Biryani, Musk’s culinary journey has been an exciting exploration of tastes and cultures. His appreciation for Indian dishes not only adds a personal dimension to his public persona but also serves as a reminder of the power of food to transcend boundaries and unite people in a shared love for flavors and traditions. As he continues to push the boundaries of technology and innovation, his fondness for Indian cuisine remains an endearing aspect of the multi-faceted personality of one of the world’s most influential entrepreneurs.

Friendship Day 2023: The Ultimate Foodie Gift! Discover the Top 10 Food Subscription Boxes in India to Surprise Your Friend!

To Try

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SnackTeam

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July 30, 2023

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Friendship is a cherished bond that brings joy, laughter, and support into our lives. Friendship Day, celebrated on the first Sunday of August, is the perfect occasion to express gratitude and appreciation to our friends. While traditional gifts like flowers and cards have their charm, why not make this Friendship Day extraordinary by surprising your foodie friend with a delightful food subscription box? India, a country renowned for its diverse culinary landscape, offers an array of tempting food subscription services that can bring gourmet experiences right to your friend’s doorstep. In this article, we will explore the top 10 food subscription boxes in India, providing an ideal and unique way to celebrate Friendship Day 2023.

1. The Flavors of India Box:

For the friend who relishes regional flavors and culinary traditions, The Flavors of India Box is an excellent choice. This subscription box curates authentic spices, condiments, and snacks from different Indian states, allowing your friend to embark on a culinary journey across the nation. From the fiery spices of Kerala to the delectable sweets of Bengal, this box captures the essence of India’s diverse tastes.

2. Farm Fresh Delights:

If your friend has a preference for fresh and organic produce, the Farm Fresh Delights box is the way to go. This subscription service delivers a selection of handpicked fruits, vegetables, and herbs sourced directly from organic farms across the country. With each delivery, your friend will savor the goodness of nature and support sustainable agriculture.

3. Dessert Heaven:

For those with a sweet tooth, Dessert Heaven brings an indulgent experience filled with delectable desserts and treats. From artisanal chocolates to freshly baked pastries, this box satisfies every dessert craving. This subscription service promises to uplift your friend’s spirits with delightful sugary surprises.

4. International Treats:

If your friend loves exploring global cuisines, the International Treats box is a delightful choice. This subscription service curates a selection of exotic snacks and delicacies from various countries, providing an opportunity to experience diverse flavors from around the world. It’s a passport to international gastronomy without leaving the comfort of home.

5. Health Nut Box:

For the health-conscious friend, the Health Nut Box offers a range of nutritious and wholesome snacks, superfoods, and beverages. This subscription service promotes a balanced lifestyle while satisfying taste buds with guilt-free treats. Show your friend that you care about their well-being with this thoughtful and nourishing gift.

6. Spice Up Your Life:

Does your friend enjoy experimenting with spices and creating unique dishes? The Spice Up Your Life box is the perfect companion. Each delivery includes an assortment of rare and aromatic spices, along with recipe cards to try new flavors in the kitchen. Encourage your friend’s culinary creativity with this box.

7. Tea Time Bliss:

For the tea aficionado in your life, the Tea Time Bliss subscription box offers a selection of premium teas sourced from the finest tea estates. From classic chai blends to exotic herbal infusions, this box promises a soothing and refreshing tea-drinking experience, perfect for relaxation and quality bonding time.

8. Gourmet Snack Attack:

If your friend loves snacking, the Gourmet Snack Attack box will be a delightful surprise. This subscription service curates a collection of gourmet chips, nuts, and savory bites that are sure to satisfy even the most discerning snack cravings. It’s a gourmet delight delivered to the doorstep.

9. Breakfast Bonanza:

They say breakfast is the most important meal of the day, and the Breakfast Bonanza box ensures your friend starts their day with a smile. This subscription service offers a range of nutritious and delicious breakfast options, from granola mixes to pancake batters, making mornings a delightful affair.

10. DIY Cooking Kits:

For the friend who enjoys hands-on cooking experiences, DIY Cooking Kits are a fantastic choice. These subscription boxes come with pre-portioned ingredients and easy-to-follow recipes, allowing your friend to whip up restaurant-quality dishes in the comfort of their kitchen.

Final Thoughts:

This Friendship Day, go beyond traditional gifts and surprise your foodie friend with an exciting food subscription box. India’s culinary diversity and gastronomic treasures are beautifully captured by these top 10 food subscription services. From regional delights to international treats, healthy options to indulgent desserts, there’s a subscription box to suit every friend’s palate and preferences. By gifting one of these boxes, you not only celebrate your friendship but also provide your friend with delightful culinary experiences to cherish and savor. Make this Friendship Day memorable with a unique foodie gift that reflects the warmth and joy of your bond. Happy Friendship Day 2023!

Friendship Day 2023: Discover the 10 Most Exciting Eateries & Cafes in Delhi-NCR to Celebrate with Your Gang!

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SnackTeam

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July 30, 2023

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Eateries and Cafes in Delhi-NCR for friendship day

Friendship Day is a special occasion that celebrates the bond of friendship, the camaraderie, and the cherished memories shared with our closest companions. As the year 2023 unfolds, it brings with it the opportunity to strengthen these bonds while exploring some of the most exciting eateries and cafes in Delhi-NCR. This bustling metropolitan region, renowned for its rich cultural heritage and diverse culinary landscape, offers a plethora of options for a delightful celebration with your gang. In this guide, we will take you on a gastronomic journey through ten handpicked eateries and cafes that promise to make Friendship Day 2023 an unforgettable experience.

1. The Chai House:

Begin your day on a soothing note at The Chai House, a quaint little cafe tucked away in the heart of Delhi. Known for its array of aromatic chai blends and delectable snacks, this place exudes a warm and welcoming ambiance. Gather your friends for a cozy morning chat over some classic masala chai or experiment with exotic flavors like saffron rose or lemongrass ginger chai.

2. The Paratha Junction:

For a hearty and indulgent brunch, head to The Paratha Junction, a popular eatery that specializes in a variety of stuffed parathas. The menu boasts an eclectic mix of traditional and fusion fillings, catering to diverse tastes. From the classic aloo and gobi parathas to innovative options like paneer tikka and Nutella banana parathas, this place has something to satisfy every craving.

3. The Wanderlust Bistro:

If your gang is in the mood for an international culinary adventure, The Wanderlust Bistro is the perfect destination. This vibrant eatery showcases a fusion of global flavors and culinary techniques, creating an exciting menu that includes dishes like Thai green curry pasta, Mexican biryani, and sushi burritos. Enjoy the delightful amalgamation of tastes while sharing travel stories with your friends.

4. Artisanal Pizzeria:

No Friendship Day celebration is complete without pizza, and Artisanal Pizzeria takes the experience to a whole new level. This cozy pizzeria crafts each pizza with love, using only the freshest ingredients and traditional wood-fired ovens to achieve the perfect crust. Explore their unique combinations, such as fig and prosciutto or truffle mushroom, and savor the authentic Italian flavors.

5. Spice Tales:

For those who relish the rich and aromatic flavors of Indian cuisine, Spice Tales presents an exquisite dining experience. With a menu inspired by regional culinary traditions, this restaurant offers an array of mouthwatering dishes. From creamy butter chicken to spicy Chettinad curry, each bite will take your taste buds on a delightful journey through India’s diverse culinary landscape.

6. The Green Terrace:

If you and your friends are health-conscious and enjoy eating clean, The Green Terrace is an oasis of freshness. This charming rooftop cafe specializes in organic and farm-to-table dishes, incorporating a wide range of vegan and gluten-free options. Indulge in nourishing Buddha bowls, nutrient-packed smoothies, and guilt-free desserts in a serene and eco-friendly setting.

7. The Culinary Carousel:

The Culinary Carousel is a unique concept that takes you on a gastronomic tour through various cuisines under one roof. This food hall features a diverse range of stalls, each dedicated to a specific cuisine like Chinese, Mediterranean, or South Indian. Choose from a plethora of options, and enjoy a culinary potpourri with your gang.

8. Dessert Delights:

Satisfy your sweet tooth at Dessert Delights, a dessert haven that offers an extensive range of delectable treats. From artisanal ice creams and gourmet cupcakes to decadent pastries and fusion desserts, this cafe is a paradise for dessert enthusiasts. Treat your friends to a delightful sugar rush, and create unforgettable memories over delightful confections.

9. The Tea Terrace:

If your gang enjoys a touch of elegance and sophistication, The Tea Terrace is the place to be. This luxurious tea room serves a splendid array of premium teas and handcrafted pastries, making it an ideal spot for an afternoon tea celebration. Engage in heartwarming conversations while sipping on rare teas and savoring delicate macarons and scones.

10. The Baking Lab:

End your Friendship Day on a sweet and creative note at The Baking Lab, where you and your friends can participate in a fun baking workshop. Learn the art of making delectable desserts under the guidance of skilled pastry chefs and enjoy the fruits of your labor together. The Baking Lab offers a memorable and hands-on experience that will deepen the bonds of friendship.

Final Thoughts:

Friendship Day 2023 in Delhi-NCR promises to be an exciting and flavorsome affair with these ten exceptional eateries and cafes. From sipping aromatic chai to savoring gourmet desserts, and from exploring global fusion cuisine to indulging in authentic Indian flavors, the capital region has something to cater to every palate. Celebrate your friendship with your gang by embarking on this gastronomic journey and creating beautiful memories together. So, mark your calendars and get ready to embark on an unforgettable culinary adventure on Friendship Day 2023!

Nestle India announces INR 4,200 Crore investment plan by 2025 to boost growth and rural presence

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SnackTeam

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July 29, 2023

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On Friday, Nestle India declared its dedication to investing approximately INR 4,200 crore by 2025. This substantial investment will encompass various ventures, including the establishment of their tenth factory in the state of Odisha.

The leading packaged food company envisions its next phase of growth to extend beyond metropolitan areas and also focus on expanding its presence in semi-urban and rural regions, which presently contribute around 20 percent to its overall sales. Simultaneously, the company is placing significant emphasis on seizing the premiumisation opportunity.

Speaking at a select media roundtable, Suresh Narayanan, Chairman and Managing Director, Nestle India, said, “Our investments in Make-In-India have been significant. From 2020 until the first half of 2023, we have already spent about INR 2,100 crore on the augmentation of manufacturing capabilities. Now, another INR 4,200 crore will be invested from 2023 to 2025. This includes about INR 894 crore of investments in the new factory in Odisha.”

In addition to establishing the new plant in Odisha, the recent investments will also support the phase-3 and phase-4 expansion of the company’s Sanand factory, along with capacity enhancements at the Moga factory.

During the June quarter, the company experienced a substantial 15 percent increase in total sales, accompanied by a notable volume growth ranging from 4 to 5 percent.

“The next phase of growth is not just going to come from strengthening our portfolio in urban India but also in semi-urban and rural India. We are seeing growth not just in mega towns and metros but also in Tier 1-6 towns,” Narayanan said.

He emphasized that the company’s current focus lies in expanding its distribution network in semi-urban and rural areas across 12-13 States. Additionally, they aim to enhance their product portfolio’s relevance in these regions by introducing suitable packaging options.

Amid the rising aspirations of Indian consumers, the packaged food leader is further bolstering its premium offerings in diverse categories, such as chocolates and coffee.

“While a third of our portfolio is price-point-led, wherever we have opportunities for premiumisation, we are doing it aggressively,” he added.

Narayanan emphasized that although headline inflation is manageable, the worrisome aspect lies in the persistent issue of food inflation.

“With the kind of torrential rains that are taking place, what impact will this have on the winter crops, It’s anybody’s guess… I would still say the specter of food inflation is going to remain. It’s not something that we can wish away that quickly,” he said.

Coffee Day Global case: NFRA imposes INR 2.15 Cr fine and bans 2 auditors, 1 audit firm

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SnackTeam

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July 29, 2023

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On Friday, the National Financial Reporting Authority (NFRA) imposed fines totaling INR 2.15 crore on three parties, including two auditors, and also imposed varying periods of prohibition on them due to audit deficiencies in Coffee Day Global Ltd for the financial year 2019-20. The incident in question involves the misappropriation of funds amounting to INR 3,535 crore from seven subsidiary companies of CDEL to Mysore Amalgamated Coffee Estate Ltd (MACEL).

Coffee Day Global Ltd (CDGL) and MACEL are subsidiaries of the listed entity Coffee Day Enterprises Ltd (CDEL).

After, markets watchdog Sebi shared its investigation report in April 2022, NFRA initiated investigations into the professional conduct of the statutory auditors of CDGL.

In its order, NFRA imposed a penalty of INR 2 crore on the audit firm ASRMP & Co and INR 10 lakh on A S Sundaresha. Further, they have been barred for a period of four years and 10 years, respectively.

The first two years of the restraint period of ASRMP & Co and the first five years of the prohibition period of Sundaresha would run concurrently with the debarment period imposed by NFRA through its order in April in the case of CDGL for FY2018-19.

In addition, the regulator also levied a fine of INR 5 lakh on Madhusudan U A and restrained him for a period of 5 years.

All of them have been barred from undertaking any audit in respect of financial statements or internal audit of any company or body corporate during the debarment period, according to the order.

In its probe, NFRA found that the auditors (ASRMP & Co, Sundaresha and Madhusudan) failed to exercise professional judgement and scepticism during the audit of CDGL where there was fraudulent diversion of funds to MACEL worth INR 1,105.10 crore and evergreening of loans through structured circulation of funds among other group companies.

The regulator noted that the auditors also failed to obtain sufficient appropriate audit evidence during audit of deferred tax assets involving misstatement of INR 244 crore and misstatement of INR 26.19 crore in related party disclosure relating to purchase of coffee beans from MACEL.

The total material and pervasive misstatements amounted to INR 1,615.04 crore of CDGL, which the auditors did not identify and report in their independent auditor’s report.

The auditors failed to report that Internal Financial Control over financial reporting was completely absent in CDGL.

Therefore, CDGL’s auditors for the FY2019-20 had failed to meet the relevant requirements of the Standards on Auditing (SA) and provisions of the Companies Act, 2013 and also demonstrated a serious lack of competence and due diligence on their part.

Earlier, the auditors had given a Disclaimer of Opinion in the independent auditor’s report based on their inability to obtain sufficient appropriate audit evidence regarding recoverability of INR 1,105.10 crore from MACEL.

Swiggy integrates morning grocery delivery service ‘InsanelyGood’ into main app to bolster traffic

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SnackTeam

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July 29, 2023

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Swiggy, the leading food delivery major, has taken a significant step to enhance its services. In a bid to bolster traffic to its morning grocery delivery platform, InsanelyGood, the company has seamlessly integrated it with its main app, as informed by sources familiar with the matter.

In March, the service formerly known as SuprDaily underwent a rebranding and is now recognized as InsanelyGood. Presently, it operates exclusively in Bengaluru, where Swiggy, its parent company, has its headquarters. This decision followed a reduction from operating in six cities the previous year, a strategic move aimed at minimizing cash-burn.

According to a source familiar with the matter, the service is planned to remain exclusive to Bengaluru in the foreseeable future. Customers placing orders on the platform before 11 pm can expect their orders to be fulfilled by 7 am the following day.

“(InsanelyGood) is currently a pilot in Bengaluru and can be accessed through the ‘InsanelyGood’ tile on the Swiggy platform, which takes you to the app. The InsanelyGood app is also available to download,” a Swiggy spokesperson said in a statement.

Swiggy, backed by Prosus, acquired the firm in 2018 and later integrated it into a unit under its parent entity in 2021. This strategic move brought Swiggy into direct competition with other players like Tata-owned BigBasket, Amazon Fresh, and Reliance-owned Milkbasket. Notably, Milkbasket is currently undergoing a significant downsizing of its team, as initially reported by Entrackr.

Integrating multiple services into a single app is not a new concept in the grocery industry. For example, BigBasket consolidated its main scheduled delivery service, quick commerce offering, and beauty store onto its primary app, which they internally refer to as their ‘super app.’ This approach allows customers to access and utilize various services conveniently from one centralized platform.

In addition to InsanelyGood and its core food offering, Swiggy’s main app serves as a host for several other services. These include their pick-and-drop service, Genie, the restaurant scouting and booking app, Dineout, the quick commerce service, Instamart, and the aggregated selling platform, Minis. By incorporating these diverse services into a single app, Swiggy aims to provide users with a comprehensive and seamless experience for various needs.

In June, Prosus, the prominent investor in Swiggy and the Dutch-listed arm of South African technology investor Naspers, disclosed that the company’s losses had surged by 80% compared to the previous year in the January-December 2022 period. However, during the same period, Swiggy also experienced a notable 26% growth in food-delivery Gross Merchandise Value (GMV).

According to the Founder and group CEO, Sriharsha Majety, in May, the firm’s core food delivery business achieved profitability in March 2023. This milestone was reached after considering all corporate costs, but excluding Esops (Employee Stock Ownership Plans).

Avril Group expands into plant-based foods with majority stake acquisition of Hari&Co

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July 29, 2023

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Avril Group, a company in France specializing in agri-food, has recently obtained a controlling interest in Hari&Co, a local plant-based food manufacturer.

Emmanuel Brehier and Benoît Plisson, the Founders and Directors of Hari&Co, will remain associated with the company as shareholders holding minority stakes.

Eutopia and Triodos Investment Management, previous investors in the company known for its veggie burgers and meatball alternatives, have divested their shares in the firm.

Avril said it was “committed” to the development of plant protein and said the deal for Hari&Co “strengthens its position in mass consumption”.

Hari&Co distributes its products through the French retail channel, and according to an Avril spokesperson, the company has successfully established “over 5,000 sales points” with various retailers. Additionally, Hari&Co serves foodservice customers with its plant-based food offerings.

In addition to the French market, the vegan food maker also has a smaller presence in Italy, supplying more than 250 stores, the spokesperson said.

“This project is fully in line with our strategy. Following the acquisition of Vivien Paille last year, we are pursuing the development of French sectors and the promotion of legumes, from the farm to the table,” Avril CEO Jean-Philippe Puig said.

In the previous year, Avril acquired Soufflet Alimentaire, a France-based supplier of rice, legumes, and chickpeas, from its agribusiness counterpart, InVivo Group. Following the acquisition, Avril rebranded the business as Vivien Paille.

In October of the previous year, the prominent French poultry company, LDC, acquired Avril Group’s Ovoteam eggs business and the egg brand Matines.

In April 2021, Avril announced its intentions to divest its eggs and pork operations. The decision was driven by the company’s strategic shift and its desire to consolidate activities around four key areas: condiments and cooking oils, plant-based products for both humans and animals, ingredients, and energy.

Last year, Avril snapped up a majority stake in Italian firm Eccellenza Italiana, which sells products including condiments and olive oil in France.

Reliance Retail’s Milkbasket sees top-level resignations after JioMart deal

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July 29, 2023

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Reliance Retail-owned subsidiary, Milkbasket, recently underwent a major transformation as it achieved full integration with JioMart. However, this significant milestone was accompanied by notable departures within the upper echelons of its management, as reported by Entrakr.

In May, the Chief Financial Officer (CFO) Gaurav Srivastava, along with Milkbasket’s only Co-Founder Yatish Talvadia and Chief Operating Officer (COO) Abhinav Imandi, stepped down from their positions following the merger of the company with JioMart.

According to the report, four of Milkbasket’s Co-Founders had already departed from the company by the previous year. Additionally, the report highlighted that nearly a dozen senior executives have resigned from their positions at Milkbasket, and there are expectations of further resignations in the weeks to come.

Srivastava served as Milkbasket’s CFO for a duration of five years, preceded by his role as the company’s Vice President-Finance. Prior to this, he gained experience working with renowned consulting firms such as KPMG and EY.

As of now, Milkbasket (Aaidea Solutions Ltd) has not yet released its financial results for FY23. In FY22, the company experienced a significant increase in losses, rising by 98% to reach INR 66 crore, while its revenue declined by 19% to INR 421 crore from the previous FY21 figure of INR 522 crore.

Before the acquisition, the company successfully raised $33 million in funding from various sources, including Inflection Point Ventures, Mayfield India, Unilever, Beenext, Blume Ventures, Kalaari, Lenovo Capital, and several angel investors, as mentioned in the report.

Marico’s Q1 FY24 net profit surges 15.6% to INR 436 Crore, despite minor dip in total income

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July 29, 2023

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According to a BSE filing, Marico, a leading FMCG company, recorded a significant increase in its consolidated net profit for the first quarter ending June 30, 2023. The company’s net profit rose by 15.6 per cent, reaching INR 436 crore, compared to INR 377 crore in the corresponding quarter of the previous fiscal year.

Nevertheless, the company experienced a minor decrease in total income, amounting to INR 2,523 crore during Q1 FY24, in contrast to INR 2,575 crore recorded in Q1 FY23.

According to the regulatory filing, Marico’s total expenses declined to INR 1,956 crore in Q1 FY24, showing a contrast to the corresponding quarter of the previous fiscal, where expenses amounted to INR 2,076 crore.

In Q1 FY24, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached INR 574 crore, indicating a 9 percent increase from INR 528 crore reported in Q1 FY23. Additionally, the EBITDA margin for Q1 FY24 improved to 23.2 percent compared to 20.6 percent in Q1 FY23.

Throughout the quarter, the FMCG sector maintained its optimistic outlook, consistent with the previous quarter. However, as expected, noticeable signs of significant growth in rural areas on a sequential basis were not evident.

According to the company’s statement, the growth primarily stemmed from urban areas, while the rural markets saw growth from a smaller base. In terms of product categories, packaged foods sustained their positive performance, while beauty and personal care products closely followed the trajectory of rural market growth.

In its quarterly update, the company expressed optimism about a gradual recovery in volume growth, mainly driven by the rural sector, thanks to the ongoing reduction in commodity and retail inflation. However, the company also highlighted the importance of closely monitoring the distribution of rainfall and the impact of recent erratic weather patterns on the agricultural cycle. These factors could significantly influence rural incomes, making them critical to observe for future developments.

In the fiscal year 2022-23, the FMCG major achieved a turnover of INR 97.6 billion ($1.2 billion) from its products sold in India as well as selected markets in Asia and Africa.

Karnataka cabinet raises Nandini milk price by INR 3 per litre, citing support for milk producers

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July 29, 2023

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Starting from August 1, the Karnataka cabinet has made the decision to increase the price of Nandini milk by INR 3 per litre. Nandini is the renowned brand under which products are offered by the Karnataka Milk Federation (KMF).

The decision was taken on Thursday in the cabinet meeting in view of the demands of the milk producers.

Defending the move, Chief Minister Siddaramaiah said on Friday that Karnataka is selling milk at the lowest price whereas in the other states it is much higher.

“The milk (toned) that costs INR 39 will be sold at INR 42 per litre. Elsewhere it is sold between INR 54 and INR 56 per litre. In Tamil Nadu the price is INR 44 per litre,” the Chief Minister said.

Commenting on the decision, Deputy Chief Minister D K Shivakumar said, “We have to give money to the farmers (milk producers). Today in the entire country it’s (toned milk) INR 56 per litre. In our state people are getting at a very less price.”

He also said the government had decided to hike milk price by three rupees to help farmers.

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