Monthly Archives: March 2017

Sanction of 101 New Integrated Cold Chain Projects

New Delhi : India is one of the largest food producers in the world and is the second largest producer of fruits and vegetables yet only 2.2% of our fruits and vegetables are processed.
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India requires affordable cold storages and cold chains at every food producing hub in the country. While existing cold storages are concentrated in few states and roughly 80 to 90% are used for potatoes, India has a long way to go. MoFPI is building National Cold Chain Grid in the country so that all food producing hubs are connected to cold storage and processing industries.

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Ministry of Food Processing Industries has been constantly involved in setting up new cold chain infrastructure which has both cold storage and processing facilities. The Ministry had announced sanction of 30 Cold Chain Projects in May, 2015. Today Ministry announces sanction of 101 new integrated Cold Chain Projects spread across the country. These projects are for fruits and vegetables, dairy, fish, meat, marine, poultry, ready to eat/ready to cook sectors.

The Ministry is focusing on creating Cold Chain infrastructure by strategic planning which eventually builds Cold Chain Grid in the entire country. This will help in realizing the vision of Hon’ble Prime Minister for doubling of farmer’s income. It will also reduce wastage in agri supply chain and will create huge employment opportunities.

The scheme of Cold Chain and Value Addition Infrastructure provides financial assistance up to Rs. 10 crore for entrepreneurs.

Love Everyone: The Transcendent Wisdom of Neem Karoli Baba Told Through the Stories of the Westerners Whose Lives He Transformed

These 101 new integrated cold chain projects will leverage total investment of Rs. 3100 crore for creation of modern infrastructure for the food processing sector. The total expected grant-in-aid to be released to these projects is Rs. 838 crore.

The 101 new Cold chain Projects will create additional capacity of 2.76 lakh MT of Cold Storage/Controlled Atmosphere/Frozen Storage, 115 MT per hour of Individual Quick Freezing (IQF) capacity, 56 lakh litres per day of Milk Processing, 210 MT per batch of Blast Freezing and 629 Refrigerated/Insulated vehicles.

These Integrated Cold Chain projects will not only provide a big boost to the growth of food processing infrastructure in the concerned states but also help in providing better prices to farmers and is a step towards doubling of farmers’ income. The infrastructure will also reduce wastage of perishables, add value to the agricultural produce and create huge employment opportunities especially in rural areas.

Creation of above Cold Chain Infrastructure and other necessary infrastructure would go a long way in further expanding and strengthening required food processing infrastructure in the country which shall create short, consistent and compressed supply chains from producers to processors, retailers and exporters and give major boost to fruits and vegetables processing, milk processing and non-horticulture food processing in the country.

Press Information Bureau : March 27, 2017

Walmart to open half of 50 new stores in U.P., Uttarakhand

New Delhi: Global retail giant Walmart is looking to locate nearly half of its 50 stores in the country in Uttar Pradesh and Uttarakhand as it seeks to ramp up operations in the cash-and-carry segment, while also eyeing food retail if the government eases the norms. USA, LLC
Every Day Low Prices at Wal-Mart USA, LLCSources told TOI that Walmart, which currently has 20 stores across the country, is planning as many stores in the two northern states, where BJP recently swept to power. In addition, the US retailer plans to open 10 stores each in Maharashtra (where it currently operates its ‘Best Price outlets in Amravati and Aurangabad), Andhra Pradesh and Telangana. Walmart is looking at two more stores in Lucknow in addition to Ghaziabad, Noida, Kanpur, Allahabad, Haridwar, Dehradun and Haldwani. With each store providing direct and indirect employment to 2,000-2,500 persons, the company may end up creating over 40,000 jobs in UP and Uttarakhand.
rollback04_gen_120X90.gifThe sources said that retailer, which parted ways with Bharti a few years ago and had put its store expansion on hold for a while, sees enormous opportunity in UP and Uttarakhand where there is little competition from others (such as Metro AG and Reliance) operating in the cash-and-carry format. Cash-and-carry stores are wholesale outlets, which are only allowed to sell to retailers, canteens and hotels. USA, LLC
“Our commitment to the country is very deep and we are growing our footprints in India further by opening 50 more cash-and-carry stores in next few years across key focus states, including AP, Telangana, UP, Uttarakhand, Haryana, Maharashtra etc. Our development team is growing this store pipeline for last couple of years and we’re confident of continuing our contribution to the creation of thousands of skilled jobs, helpings kiranas, farmers & SME suppliers succeed through our cash & carry business,” a Walmart India spokesperson said in response to a questionnaire from TOI. USA, LLC
The 50 new stores will be opened over the next three-to-four years. So far, the company has developed hubs, which are its focus areas. For instance, Punjab, Haryana, UP and Uttarakhand comprise the northern cluster, the second one includes Andhra and Telangana with the third one in Maharashtra. USA, LLC
Walmart is, however, awaiting clarity on the food retail guidelines as it does not want to limit itself to domestically produced and manufactured food products. With the government looking at relaxing the rules, the Walmart spokesperson said: “As we’ve said earlier, allowing 100% FDI in food retail is a very progressive step, but having a certain percentage of non-food items in this policy will make it economically viable.” USA, LLC
TOI Business: March 27, 2017

The Miracle of Love

The Miracle of Love – Paperback – By Ram Das (Author)

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“There can be no biography of him. Facts are few, stories many. He seems to have been known by different names in many parts of India, appearing and disappearing through the years. His western devotees of recent years knew him as ‘Neem Karoli Baba,’ but mostly as ‘Maharajii’–a nickname so commonplace in India that one can often hear a tea vendor addressed thus. Just as he said, he was ‘Nobody.’ He gave no discourses; the briefest, simplest stories were his teachings. Usually he sat or lay on a wooden bench wrapped in a plaid blanket while a few devotees sat around him. Visitors came and went; they were given food, a few words, a nod, a slap on the head or back, and they were sent away. There was gossip and laughter for he loved to joke. Orders for running the ashram were given, usually in a piercing yell across the compound. Sometimes he sat in silence, absorbed in another world to which we could not follow, but bliss and peace poured down on us. Who he was was no more than the experience of him, the nectar of his presence, the totality of his absence–enveloping us now like his plaid blanket. –Anjani In 1967 I met Neem Karoli Baba, a meeting which changed the course of my life. In the depth of his compassion, wisdom, humor, power and love I found human possibility never before imagined…an extraordinary integration of spirit and form. I was with him only briefly for he left his body in 1973, still he entered my heart as living truth, and his presence continues to enrich and guide my life. — Ram Dass

Airtel to buy Tikona’s 4G business for Rs1,600 crore

Bharti Airtel has agreed to buy Tikona Digital Networks 4G business, including its broadband wireless access spectrum and 350 cellular sites in 5 telecom circles

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New Delhi: Bharti Airtel Ltd has agreed to buy Tikona Digital Networks Pvt. Ltd’s 4G business, including its broadband wireless access spectrum and 350 cellular sites in five telecom circles, the country’s largest telecom operator said on Thursday.

The deal size is “approximately Rs1,600 crore”, Bharti Airtel said in a regulatory filing

Netmeds IN

Mint had on 18 March first reported that the Bharti-Tikona transaction could be in the range of Rs800-1,000 crore. Tikona has some debt on its books, which Bharti Airtel will assume, so the overall deal value is close to Rs1,500-1,700 crore, the report said.

“Tikona currently has 20MHz spectrum in the 2300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles. Airtel plans to roll out high-speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction,” Bharti Airtel said.

According to the agreement, the acquisition of the 4G business in Gujarat, Uttar Pradesh (East), Uttar Pradesh (West) and Himachal Pradesh will be undertaken by Airtel, while in the Rajasthan circle, it will be accomplished through its subsidiary, Bharti Hexacom Ltd, the statement said.

The deal would be another step in the process of consolidation set off by the aggressive pricing strategy of Mukesh Ambani’s Reliance Jio Infocomm Ltd, which entered the market in September.

Tikona bought 20 MHz of 4G airwaves in the 2300 MHz band in the 2010 auctions in Gujarat, Himachal Pradesh, UP (East), UP (West) and Rajasthan for Rs1,058 crore.

Bharti Airtel has limited 4G airwaves in the 2300 MHz band in circles where Tikona, a Mumbai-based network solutions provider, holds spectrum. For example, in UP (East), UP (West) and Rajasthan, it has no airwaves in the 2300 MHz band. In Gujarat and Himachal Pradesh, it has 10 MHz each.

“The proposed acquisition will enable Airtel to fill BWA spectrum gaps in the 2300 MHz band in Rajasthan, UP (East) and UP (West), thereby securing a pan-India footprint in the band. The deal will significantly bolster Airtel’s spectrum position in Gujarat and Himachal Pradesh, taking its overall BWA spectrum holding to 30 MHz each in these circles,” the statement said.

On completion of the transaction, Airtel will have 30 MHz in the 2300 MHz band in 13 circles, giving it a tremendous advantage in handling the surging data demand, it added.

The move comes less than a month after Airtel said it would acquire the Indian operations of Norway’s Telenor ASA to strengthen its presence in the 1800 MHz band. The transaction gave it access to 44 million customers (increasing its user base to 307 million), 43.4 MHz of spectrum in the 1800 MHz band and 20,000 base stations.

Livemint: March 24, 2017

Amazon India to invest $515 mn in food retail business over next 5 years

Last year, govt allowed 100% FDI in multi-brand food retail

New Delhi: Global e-commerce major Amazon is aiming to enter the food retailing sector in India with investment plans of $515 million over the next 5 years.

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Food Processing Industries Minister Harsimrat Kaur Badal on Thursday confirmed the company’s investment plans while adding that Metro Cash & Carry has also shown interest in food retailing.

Back in January, Amazon had filed its application with the Department of Industrial Policy and Promotion (DIPP). Online players Grofers and Big Basket also have also submitted FDI proposals regarding retail trading of food items.

While Amazon is one of the major e-commerce players in India, Grofers and Big Basket are into online grocery space.

Last year, in June, the government allowed 100 per cent FDI in multi-brand food retail, including through e-commerce. However, the food products have to be produced, processed or manufactured in the country.

However, while the move has drawn little interest from international retail players so far who have complained that just having “food only” stores was not a viable option.

Multinationals including Walmart and French retailing major Auchan Group have indicated their interest in investing in the country if the government allows “food plus” in foreign direct investment (FDI) in retail, official sources said. INTWhile the Food Processing Industries Ministry wants FDI rules to be eased in multi-brand retail and allow food retailers to sell non-food items to the tune of 25 per cent of all shelf products, other ministries including DIPP are examining the matter, a senior government official said.

On this note, Badal said the government will have to sort out the debate by November, this year when her ministry plans to organise the World Food Festival.

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Of the Rs 30 lakh crore retail pie in India, food constitutes Rs 4 lakh crore. The food processing sector received $5.76 billion in FDI equity inflows from 2010-11 to 2015-16, according to government figures.

In the current financial year, till December incoming FDI reached 663.23 million.

Badal added that the government plans to establish a National Food Grid to boost processing level of farm produce and reduce wastages by compressing gaps in supply chain. For this, a number of mega food parks, as well as cold chain projects are being approved.
Aliexpress INTJapanese firms plan Indian units

A number of Japanese companies have shown interest in setting up units for food processing, an official said. “Japan is keen to source its requirements from India. It already sources 40 per cent of products from abroad,” the official said.

Companies like Ajinomoto, Marubeni Corporation and Calbee are seeking investment opportunities in states. Kagome, the world’s largest producer of tomato-based foods like ketchups, is among these.

Business Standard: March 24, 2017

UK car exports to India grow 11-fold in 7 years, Jaguar Land Rover top list

New Delhi: According to UK’s Society of Motor Manufacturers and Traders (SMMT), car exports from UK to India have grown 11 times in the past seven years to 3,372 cars in 2016, led by Jaguar and Land Rover models owned by Jaguar Land Rover, a subsidiary of Tata Motors.
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Discovery Sport, Range Rover Evoque, Jaguar XF, Jaguar XE and Jaguar F-Pace are the top five best-selling models in India. On the other hand, car registrations of Indian models in UK rose 12.6 per cent to 31,535 in 2016. USA, LLC

The Indian automotive aftermarket bought car parts from UK worth GBP 14 million (US$ 17.48 million) in 2016 and is expected to grow 15 per cent per year over the next five years.

RK Damani-led D-Mart stocks register over 100% returns on listing day

New Delhi: Market investor RK Damani-led retail store chain Avenue Supermarts, commonly known as D-Mart, witnessed more than 100% return on its debut on the domestic bourses on Tuesday.

The scrip of the company opened at Rs 604.40 per share on the BSE — more than 100% premium over its issue price of Rs 299 apiece.

It closed with gains of 6.01% at Rs 640.75 per share, which accounted for a gain of 114.30% from its issue price.

“D-MART witnessed blockbuster opening and continued to trade higher throughout the session. Against issue price of Rs 299, it opened at around Rs 600 and continued gain till intra-day high of Rs 648.90,” Dhruv Desai, director and chief operating officer of Tradebulls, told IANS.

Flipkart IN“More than 100% return was seen in the stock. It sustained the gains till the end of the trading session.”

Jimeet Modi, chief executive of SAMCO Securities, said in a note: “This listing will certainly qualify as the biggest listing of recent times in subscription and listing gains terms.”

“We can make a conclusion after looking at the facts of this initial public offering (IPO) that broader trend of the market is very much intact and more northwards and investors are ready to pay premium for quality.”

On March 8, the IPO of the retail chain was oversubscribed by 104.59%.

HT Business: March 22, 2017