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PTI A top Adani Group official today met Chief Minister Captain Amarinder Singh and evinced interest in expanding investments in Punjab. President and chairman of several key companies of the Gujarat-based group, Pranav V Adani, met Chief Minister Captain Amarinder Singh here today to discuss possible areas of investment in Punjab. The Group already runs a solar power generation unit in Bhatinda in Punjab and has expressed interest in expanding presence in the state to several other important areas of progress and development, an official spokesperson said after the meeting. The Chief Minister invited Adani to share a brief on the various possible areas of cooperation with the state. Captain Amarinder Singh welcomed the possibility of greater investment by the Group in ...

The Dollar Business Bureau FMCG major Nestle is eyeing to diversify its offering into new categories such as pet care, cereals, skin health and premium coffee business. The company is also looking to consolidate its product portfolio and including new categories in order keep the two-digit growth. “There are so many categories in which we are not in. We don’t have a premium coffee business. Expresso and Dolce Gusto is not here. Our pet care is not here. Cereals is not here, in healthcare we are here but it’s very small. Skin health we are here but its relatively very small. These are potentially the businesses,” said Suresh Narayanan, CMD, Nestle India. As part of its diversification strategy, the company ...

The Dollar Business Bureau The Government-led demonetisation drive seems to have left a deteriorating impact on the domestic business atmosphere, as FMCG major Dabur says the company is still attempting to shake off the effect of the November 8 decision, and it will take a few more months for its trade to rebalance.  The Uttar-Pradesh-headquartered company said that the delay in implementation of GST has further added to its challenges and would want the government to stick to its deadline.  "One thing is for sure, we are not going to see strong growth emerging in the next few months. I think it is going to take longer for the trade to re-balance," Dabur India CEO Sunil Duggal said.  Duggal, however, indicated that the company ...

The Dollar Business Bureau   Patanjali Ayurved Ltd, the FMCG company founded by Baba Ramdev, has successfully submitted a proposal to set up a modern food park at Multi-modal International Hub Airport at Nagpur (MIHAN).  Earlier, Maharashtra Airport Development Company (MADC) had floated two global tenders this year, one in May and the other in July, but has not been able to get a bidder.  MADC has floated the tenders for the third time and got Patanjali Ayurved Ltd as the qualified bidder, the state-owned agency said in a press release on Friday.   The state-run agency has taken a decision to create agro, herbal, food and forest-based industrial parks, spreading across a 230-acre land in MIHAN.  This project is a part of MADC’s efforts in the development of ...

Sharath Chowdary Gujarat based Harley Foods Products Pvt Ltd plans to tap international markets very soon. The branded snack food company is all set to foray into confectionery industry and aims to launch the candy and packaged sweet products before the festival of Diwali this year. “Indian snacks and traditional sweets have huge demand in overseas markets particularly in the countries like the US, Malaysia, Singapore and Middle East, where many people from India live. We are planning to export our food products to these countries very soon. We are targeting around 20% of the turnover from the markets abroad,” Soumiik Mitra, CMD of Harley Foods told The Dollar Business Bureau. The 10-month old company has a sales turnover of Rs.7.5 crore ...

Sharath Chowdary Diaper manufacturing firm Nobel Hygiene has asked the government to either reduce the import duty on the raw materials used in making diapers or hike the customs duty on the inward shipments of diapers. “Except few big players, all other diaper makers in India are suffering losses due to the low-cost imports from China and Taiwan,” Kamal Kumar Johari, Managing Director of the company told to The Dollar Business Bureau. Elaborating on the unfavourable government policy towards diaper manufacturing in the country, he said, "The government is imposing 26 percent import duty on the raw materials used in making diapers, whereas it is levying 15 percent duty on finished diapers coming to India. As part of the bilateral trade agreements, ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), India’s leading consumer goods company, said on Friday that it has completed the deal to sellits rice exports division to LT Foods Ltd. “With respect to the sale of rice export business of HUL carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMMC, a group Company of LT Foods India Ltd, the company has now completed the said transaction,” the FMCG major said in a filing to BSE. In another filing, LT Foods Ltd said, “To further enhance the company’s global expansion strategy, the buying of these famous brands of HUL will serve as a significant milestone in the path of LT Foods and support the firm’s position ...

The Dollar Business Bureau ITC, one of the leading FMCG companies, said that it will expand its range in the food segment with the launch of the new region-specific products. Besides the addition of 20 new products to the existing categories, ITC is expected to launch dairy whitener in June. In the next three years, ITC aims to set up 6-8 massive integrated plants for its own food division in Assam, West Bengal, Karnataka, Punjab, Maharashtra and Tamil Nadu. The plants will manufacture juices, biscuits and other products, said V L Rajesh, Divisional Chief Executive-ITC Food Division. Although he did not reveal the exact figures of the investments to be made, Rajesh revealed that the new plants are quite expensive and thousands of crores ...