FMCG sector hopes for a growth-oriented Budget
The Dollar Business Bureau After having been impacted by demonetisation, the FMCG sector is pinning hopes on a growth-oriented Union Budget to look for a revival in customer confidence and build demand in urban as well as rural markets. “We are expecting a growth-oriented Budget with various stimuli to revive consumer confidence...proactive reforms to stimulate demand by increasing the money in the hands of the emerging middle class and rural India, this will help bring FMCG growth back on track,” Vivek Gambhir, MD, Godrej Consumer Products Ltd told PTI. Personal care and cosmetics product company, Emami Ltd, is also expecting a growth-oriented budget that would boost consumption, improve public investment, widen tax base, encourage digitisation and improve business sentiments. “The Budget should be focussed on clarifying ...
MP govt gives 40 acres to Ramdevs Patanjali at Rs 10 cr
The Dollar Business Bureau The Madhya Pradesh Govt has allocated 40 acres of land to yoga guru Baba Ramdev’s company Patanjali Ayurved. The land allocated is in the Pithampur industrial area and Patanjali intends to set up a food processing unit at a cost of Rs 10 crore. Speaking to the media, Kumar Purushottam, MD, Madhya Pradesh Audyogik Kendra Vikas Nigam, Indore said, "We have allotted 40 acres of land to Patanjali Ayurved at Rs 25 lakh per acre. We have sent a letter to the company, asking them to deposit Rs 10 crore in government exchequer for the land.” Detailing the company’s objectives Kumar Purushottam said, the company planned to invest 500 crore for the next three years and provide employment to ...
Harley Foods aims to tap global markets, looks for investors
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 ...
Dabur to open new plant, invest Rs.500 cr
The Dollar Business Bureau In order to expand its manufacturing prowess, Dabur India Ltd is going to invest around Rs 500 crore this year. This comprises an amount of Rs 250 crore to establish a new manufacturing unit in Assam, for healthcare and personal products. The company said that its board on Thursday approved an investment of Rs 250 crore to set up a manufacturing unit at Tezpur, Assam, in order to meet the increasing demand for its products. The unit is expected to start the operations in 2017. The company will also use a portion of the investment to upgrade the capabilities of its facilities abroad. With 20 manufacturing units, Dabur operates 12 in India and the remaining in countries like Nepal, ...
