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Business Standard

Food processing ministry to take up concern on GST with Council: Paswan

Seeking to promote the food processing sector, the Centre on Thursday held consultation with more than 100 senior executives of food companies to understand the problems faced by them related to ease of doing business, imports, GST rates and misconceptions about processed food items. During the meeting, food companies demanded reduction in GST rates of many food items. A high-level CEO roundtable, under the co-chairpersonship of Commerce & Industry Minister Piyush Goyal and Food Processing Industries Minister Chirag Paswan, was organized as part of World Food India 2024 event being held during September 19-22 in the national capital. It laid "focus on promoting investment and enhancing Ease of Doing Business and was attended by over 100 CXOs," an official statement said. Speaking on the sidelines of this meeting, Paswan said, "the objective of this CEO roundtable was to provide a platform to industry representatives of food companies to put forward their concerns and suggestions ..

The Economic Times

Food processing ministry to take up food industry's concern on GST with GST Council: Chirag Paswan

The Centre held a consultation with over 100 senior executives of food companies to address issues related to ease of doing business, imports, GST rates, and misconceptions about processed foods. The meeting aimed to promote investment and enhance the food processing sector as part of World Food India 2024.

Business Standard

Amit Shah launches 'White Revolution 2.0' to boost Indian dairy sector

In a major push to transform India's dairy cooperative sector, Union Minister Amit Shah on Thursday unveiled 'White Revolution 2.0', a comprehensive initiative aimed at empowering women farmers and creating job opportunities. The programme focuses on four key areas - empowering women farmers, enhancing local milk production, strengthening dairy infrastructure, and boosting dairy exports. The programme is one of the three initiatives undertaken in the first 100 days of the Modi government's third term. "Maximum women are engaged in the dairy sector, with some generating business worth Rs 60,000 crore in Gujarat alone. This new initiative will focus on empowering women and further strengthening the fight against malnutrition," Shah said while addressing the gathering. The minister also launched the nationwide rollout of RuPay Kisan Credit Cards for dairy farmers and the installation of micro-ATMs at dairy cooperative societies. Additionally, he released standard operating procedures f

Business Line

AB InBev India joins ONDC network; to support 5,000 micro-sellers by 2030

This programme addresses challenges faced by micro-enterprises, particularly those in the food processing, retail distribution, and allied sectors

Mint

Small-cap stock Krishival Foods close to record high, jumps over 4% intraday after acquisition update

Krishival Foods' shares surged over 4% on September 17 after acquiring a 52.94% stake in Melt ‘N’ Mellow Foods. The stock opened at ₹312 and rose to ₹315, marking potential continued gains. The acquisition diversifies Krishival's offerings into ice cream and bakery products.

Business Standard

USFDA cites manufacturing lapses at Zydus Lifesciences' Gujarat plant

The US health regulator has pulled up Zydus Lifesciences for manufacturing lapses at its Gujarat-based plant. In a warning letter to company's Managing Director Sharvil Patel, the US Food and Drug Administration (USFDA) noted that the drug maker failed to investigate contamination identified in drug products at its Jarod-based plant in Vadodara district. The USFDA said it inspected the manufacturing facility from April 15 to 23, 2024. "This warning letter summarises significant violations of current good manufacturing practice (CGMP) regulations for finished pharmaceuticals," it added. It further said: "Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated." A warning letter is issued when the US health regulator finds that a manufacturer has significantly violated its regulations. Elaborating on the manufacturing issues at the facility, USFDA noted: "Your firm failed to thorough

The Economic Times

FSSAI starts special drive to check adulteration during festive season

The Food Safety and Standards Authority of India (FSSAI) has launched a special drive to ensure the safety and quality of food items during the festive season. Food Safety Officers and Designated Officers are instructed to maintain strict surveillance over sweets, savouries, and dairy products to prevent adulteration practices that could harm consumers' health.

Business Standard

MP govt to let NDDB operate cooperative dairies for 5 yrs; Cong opposes

The Madhya Pradesh government has given its consent to hand over for the next five years the operations of the Madhya Pradesh State Cooperative Dairy Federation and the milk unions affiliated to it to the National Dairy Development Board (NDDB). This decision was made during a meeting chaired by Chief Minister Mohan Yadav on Tuesday here in Bhopal. The opposition Congress, however, resisted the move, claiming that it was Gujarat co-operative dairy Amul's "backdoor" attempts to take over MP's state-run milk brand Sanchi. "During the meeting, it was agreed that the Madhya Pradesh State Cooperative Dairy Federation and its associated milk unions will be managed and operated by the NDDB for the next five years. For this, necessary approvals will be obtained and legal action will be taken," an official release said. CM Yadav said that there is a consensus on giving responsibility to the NDDB to increase the income of farmers and cattle keepers by making the state a leader in milk ...

The Economic Times

This Diwali, quick comm comes bearing gifts; platforms partner FMCG brands for special packs, offers, ads

Quick commerce companies are collaborating with FMCG brands like Parle, Mondelez, and ITC for the festive season. They are aiming to boost inventory levels by 60% and offer special packs and promotions on chocolates, sweets, dry fruits, and cookies. The platforms are also partnering with consumer electronics companies for kitchen appliances and personal care products.

Business Standard

Lulu Group aiming to up agri sourcing from India to Rs 15,000 cr in 2 yrs

UAE-headquartered retailer Lulu Group is looking to increase the quantum of Indian agri procurements to Rs 15,000 crore in the next two years as it expands its network globally, a top company official said on Tuesday. Its Chairman and Managing Director M A Yusuff Ali told reporters that the company plans to have a special focus on the organic good procurement and sees the value of such goods going up to Rs 2,000 crore in a year. "About Rs 10,000 crore imports (of agri products) we are doing every year. We are looking to increase it to Rs 15,000 crore within two years because we are also expanding our footprint in many countries," he said. The imports primarily include commodities such as fruits, vegetables, rice, tea, sugar, spice and millets, he said, pointing out that the produce goes to the Gulf Cooperation Council (GCC) countries and other far-east countries. Ali said his group has tied up with the Indian government-promoted Agricultural and Processed Food Products Export ...

Business Standard

Controlling chemical contamination in agri raw materials must: FSSAI

Food Safety and Standards Authority of India (FSSAI) on Saturday asserted that controlling chemical contamination in agricultural raw materials is essential for advancing the food industry. FSSAI executive director Inoshi Sharma said enforcing Maximum Residue Levels (MRLs) in crops, fruits, and spices presents a significant challenge. Speaking at an event organised by the Bharat Chamber of Commerce here, she stressed the need for regular audits and the rejection of non-compliant produce at farm gates. Sharma also underscored the importance of educating buyers about the detrimental effects of excessive pesticide use, which can lead to contamination in raw materials. She announced plans to form a committee with representatives from various ministries and departments to address this issue. Furthermore, Sharma emphasised the necessity for accurate labeling and the avoidance of misleading claims by Food Business Organizations (FBOs). She advocated for a culture of 'Self-Compliance' amo

The Economic Times

Lactose intolerant? 6 top non-dairy calcium sources for healthy bones

Here are 6 non-dairy sources of calcium that are great for maintaining healthy bones:

Mint

Theobroma sale: Marquee private equity firms place binding bids

Bakery chain Theobroma is likely to have a new private equity owner over the coming months as founder. The founder-owners, as well as ICICI Venture which holds a 42% stake in Theobroma, plan to sell their entire shareholding as part of the transaction.

Business Standard

Will lead in biomanufacturing on abundant bioresources: Minister Singh

Union Minister Jitendra Singh said on Saturday that bio-manufacturing will shape the future of global economy, and India is well-positioned to lead this revolution due to its abundant bio-resources. "India has an opportunity to lead the next big revolution which will be driven by bio-manufacturing. While the west led the IT revolution, India, with its immense and largely untapped bio-resources, is ready to take the lead," Singh said. He said that bio-manufacturing offers solutions to global challenges like climate change, resource depletion, waste generation, and pollution. It can help meet the growing demand for food and fuel while also creating new jobs. Singh said that India currently imports most of its crude oil, but bio-manufacturing, using biomass and carbon dioxide, can make the country more self-reliant in fuel production. Also, it could support the dairy industry through non-dairy milk alternatives, promoting resource sustainability. Last week, the Union Cabinet approved

The Economic Times

Belgian bakery brand Le Pain Quotidien re-enters India

Le Pain Quotidien, a Belgian bakery, has partnered with Bake & Brew Pvt Ltd to re-enter India, planning 100 outlets by 2035. An initial investment of Rs 35 crore will start with two Mumbai outlets. The venture will create 1,500 jobs and focus on authentic dining experiences with a health and wellness emphasis.

Business Standard

Domestic food market likely to grow by over 47% to touch $1,274 bn: Report

The domestic food market is expected to grow by over 47 per cent to reach USD 1,274 billion by 2027, a report released by the Confederation of Indian Industry and supported by Danfoss India said. India's food processing industry sees innovative startups emerging with cutting-edge technology, the report titled 'Food Processing Sector in India - Potential for Southern States. and released by CII, CII FACE (Confederation of Indian Industry -- Food and Agriculture Centre of Excellence) and Danfoss India, said. Danfoss India is a leader in heating, ventilation and air-conditioning and is the subsidiary of Denmark-headquartered engineering major Danfoss. Some of the key highlights of the report, which was released at the CII-FoodPro 2024 include the potential that southern states hold for food processing industry. "Tamil Nadu leads India's export of processing fruits, juices and nuts, with a 33 per cent share by quantity and 27 per cent by value, exporting 2,08,370 metric tonnes worth US

The Economic Times

Domestic food market expected to grow by over 47% to touch USD 1,274 bn: Report

India's domestic food market was set to grow by over 47% to USD 1,274 billion by 2027, driven by innovative startups. The report, released at CII-FoodPro 2024, highlighted the potential of southern states, with Tamil Nadu leading in exports. Danfoss India introduced sustainable food processing technology.

Business Standard

PM Modi to release 109 high yielding, climate resilient varieties of crops

Prime Minister Narendra Modi will release 109 high yielding, climate resilient and biofortified varieties of crops at Indian Agricultural Research Institute here on Sunday, according to an official statement. The prime minister will also interact with farmers and scientists during the event, the statement said. The 109 varieties of 61 crops to be released include 34 field crops and 27 horticultural crops, it added. Among the field crops, seeds of various cereals, including millet, forage crops, oilseeds, pulses, sugarcane, cotton, fibre and other potential crops will be released, the statement said. Among the horticultural crops, different varieties of fruits, vegetable crops, plantation crops, tuber crops, spices, flowers and medicinal crops will be released, it added. Prime Minister Modi has always encouraged sustainable farming and adoption of climate resilient methodologies, the release said. He has also emphasised on promoting biofortified varieties of crops by linking them

The Economic Times

Interest sops in works for companies setting up cold storage facilities for onions

The Ministry of Food Processing Industries plans to introduce an interest subvention scheme for private firms setting up cold-storage facilities near major cities to stabilize onion prices. After high prices and inflation last year led to export bans, the initiative aims to store onions closer to urban centers to manage market fluctuations. With 50 key locations identified, including Delhi and Mumbai, the scheme seeks to address supply gaps during peak demand periods, mitigating price spikes and ensuring steady availability.

Hindustan Times

This Bill Gates-backed startup is making 'butter' from air that tastes ‘like real thing’

Bill Gates-supported startup, Savor, pioneers dairy-free butter with minimal environmental impact

Business Line

Heritage Foods enters West Bengal, Bihar and Jharkhand as it looks at East as a growing market for dairy

Heritage Foods is launching long-shelf life milk and a host of beverages like milkshakes, Lassi, flavoured milk and cold coffee, Ghee and Laddus in West Bengal, Bihar and Jharkhand

Business Standard

Dairy firm Heritage Foods looks East in line with pan-India ambition

In Odisha, Heritage launched its products about six to nine months back

The Economic Times

Cancer risk and diet: Foods to be cautious about

Certain foods and dietary habits have been associated with an increased risk of cancer. To reduce cancer risk, it is recommended to follow a diet rich in fruits, vegetables, whole grains, lean proteins, and healthy fats, while limiting the intake of the foods and drinks listed above. Here are some examples:

The Economic Times

Nandini hits new milestone with 10 mn litres of milk procurement daily

Karnataka achieves record daily milk procurement of 10 million litres, prompting increased subsidy burden. Chief Minister Siddaramaiah highlights growth in dairy sector under Nandini brand, despite opposition claims of milk price hikes.

Mint

Spain’s Europastry Postpones IPO Citing Election Volatility

Spanish bakery firm Europastry SA postponed its initial public offering, becoming the latest European firm to halt listing plans amid the region’s faltering IPO revival.

The Economic Times

Sebi penalises Kwality's former MD, others for misrepresenting company's financials

Fine totalling Rs 3.75 crore were slapped on former promoter and MD of dairy firm Kwality's Sanjay Dhingra and other entities for misrepresenting the financials of the company. Kwality went into insolvency process in December 2018 and was acquired by Sarda Mines through the liquidation process in 2022.

Business Line

Sid’s Farm raises $10 m in Series A round

Sid’s Farm started its operations, with whole buffalo, and cow milk, and gradually diversified into curd, paneer, ghee, butter, dairy beverages, and dairy-based desserts