Anita Praveen, Secretary, Ministry of Food Processing has emphasised the pivotal role of research and development (R&D) in propelling the Indian food processing sector to greater heights. Speaking at the FICCI Scientific Symposium on ‘Processed Foods for Purpose’, Praveen highlighted the sector’s significant potential for growth and its status as a priority area within India’s […]
The cost of a vegetarian thali became dearer by 7 per cent in March primarily due to the rise in onion, tomato, and potato prices, an arm of domestic rating agency Crisil said on Thursday. A cool down in poultry prices led to a 7 per cent decline in non-vegetarian thali, Crisil Market Intelligence and […]
With competition intensifying and consumers’ increased frequency of eating out, the premiumization of food items is driving the growth of food chains. An ICICI Securities research report says “We believe different brands are now catering to varied price points and target audience.” Brands are tapping premiumization, Chizza by KFC (a pizza prototype); Oven Baked Pasta […]
The Open Network for Digital Commerce (ONDC), a government-backed initiative, has embarked on a pilot project to integrate street food vendors into its interoperable network, starting with Delhi and Lucknow. The initiative aims to accelerate the network’s expansion and promote digital inclusion among small-scale sellers. As per reports, the pilot project aims to onboard 500 […]
The Union Minister, Piyush Goyal, has affirmed the government’s commitment to preventing price spikes in essential food items, such as onions, tomatoes, and pulses, especially during elections. Goyal, who heads the Food and Consumer Affairs Ministry, emphasised the Modi government’s successful track record in swiftly controlling rates after temporary increases. In an interview with PTI, […]
Retail inflation data is anticipated to be revised after the most recent household consumption expenditure survey revealed that the percentage of food and cereal consumption has declined dramatically. Food accounts for roughly 46 per cent of the consumer price index (CPI), according to the 2011-12 household consumption expenditure survey. The most recent statistics for 2022-23, […]
Biggies Burger, a homegrown burger restaurant, has secured an undisclosed sum in pre-series A fundraising at a valuation of Rs 210 crore, the company announced in a press statement on Monday. With this cash, the business intends to expand its marketing operations. “We are incredibly excited to leverage these resources to further strengthen our brand, […]
The Household Consumption Expenditure Survey reveals a shift in spending patterns among Indians, with a decrease in expenditure on essential staples like rice and wheat and an increase in discretionary items such as processed foods, along with durable goods like televisions and refrigerators. According to the data, average rural consumer spending has surged to Rs […]
The cost of a typical homemade vegetarian thali increased by 5 per cent in January, compared to the previous year, while the cost of a non-vegetarian thali decreased by 13 per cent, as reported on Wednesday. According to Crisil Market Intelligence and Analytics (MI&A) Research’s ‘Rice Roti Rate’ estimates, the prices of key ingredients like […]
The food and hospitality sector stands united, appealing to the government for the restoration of input tax credit for GST, citing the escalating costs faced by the industry As Finance Minister Nirmala Sitharaman is gearing up to unveil the Union Budget 2024 on 1 February, all sectors have articulated their expectations from the government. The […]
