BigBasket, a Tata group-owned grocery unicorn, has started testing its large format supermarket mode in Hyderabad. Earlier the company began testing its offline retail model with tech-driven, self-serviced fruits and vegetables outlets in Bangalore last year. On Wednesday, the digital first startup opened its first full-fledged supermart in the country in Hyderabad’s IT corridor, with […]
Commerce and Industry Minister Piyush Goyal stated that India expects to trade with Australia for USD 50 billion over the next five years. He also stated that the government has discussed promoting sports, upgrading sports facilities in India, and the wine industry, in addition to the traditional sectors, at an event in Mumbai to mark […]
The government on Thursday said that the food processing industry has invested Rs 4,900 crore so far under the production-linked incentive (PLI) scheme. The PLI scheme for the food processing industry was approved in March 2021, with a budget outlay of Rs 10,900 crore. It will be implemented for seven years, until 2026-27. “A total […]
Tata Consumer Products Ltd (TCPL) announced on Thursday that it has acquired 23.3 per cent more shares in South Africa-based Joekels Tea Packers through a step-down subsidiary for Rs 43.65 crore. Tata Consumer Products Overseas Holdings Ltd (TCP Overseas), a step-down wholly-owned subsidiary of Tata Consumer Products UK Group, “has decided to purchase 23.3 per […]
Reliance Retail Ventures, a subsidiary of Reliance Industries Limited (RIL), has signed an agreement to acquire a controlling stake in the BSE-listed Lotus Chocolate. Reliance Retail division – Reliance Consumer Products will acquire a 51 per cent stake in the confectionery maker from the promoter and promoter group entities, and will make an open offer […]
Union Commerce Minister Piyush Goyal stated on Thursday that at least two more free trade agreements will be signed in 2023. Negotiations are scheduled with the United Kingdom, the European Union, and Canada, Goyal said at an event here, adding that his ministry lacks the bandwidth to respond to requests from smaller trading partners such […]
JK Lakshmi Cement, one of India’s leading cement manufacturers, flagged today announced its tie up with GreenLine, a pioneer in green and smart logistics in India, for the introduction of LNG fueled heavy trucks in its logistics. With this association, GreenLine will enable JK Lakshmi Cement to decarbonize its road logistics operations in a phased […]
The Central Bureau of Investigation (CBI) has sought to broaden the scope of its ongoing investigation into the ICICI Bank-Videocon Group loan sanctioning case on Wednesday. It has proposed to investigate the roles of “unknown public servants” and other individuals while seeking additional custody of the bank’s former CEO Chanda Kochhar, her husband Deepak and […]
India extended a policy allowing it to import refined palm oil at a lower duty and allowed the import of 51.000 tonnes of cotton duty-free in 2023; the government announced late Thursday. It has been extended “until further orders,” according to the government. India reduced the basic import tax on refined palm oil to 13.75 […]
Honasa Consumer Ltd, the parent company of the personal care brand Mamaearth, has filed its draft red herring prospectus for an initial public offering (IPO)with the Securities and Exchange Board of India (SEBI). The offer will include a new issuance of shares worth Rs 400 crore, as well as an offer-for-sale (OFS) component for 46.82 […]
