Starbucks introduces Teavana tea in 88 stores in India
The Dollar Business Bureau International coffeehouse chain Starbucks on Wednesday launched tea as a speciality offering in 88 stores in India under the brand of Teavana. “We had nine teas on offer and are doubling that with the launch of Teavana speciality teas. We are looking at attracting newer customers with our focus on tea, and are looking to double tea sales at our Starbucks stores,” Sumitro Ghosh, Chief Executive Officer, Tata Starbucks, told PTI. In 2016, during his visit to India, Howard Schultz, Chairman and CEO, Starbucks described the country as a ‘key business opportunity’ for the company and announced the launch of speciality teas in 2017. In June 2016, Starbucks announced various joint initiatives in India along with its joint venture (JV) partner Tata Sons, ...
Demonetisation's impact on Indian retail is severe but future oriented: JLL
Pankaj Renjhen, Managing Director – Retail Services, JLL India The Modi government’s demonetisation move has had an impact on several sectors, especially real estate. How could retail be far behind? Given Indian’s propensity to deal in cash, especially when shopping in luxury malls and high streets, retail will see short-term impact on sales. The media has already reported how retail sales have dwindled in the immediate aftermath of the government’s announcement, and how millions of new users are registering on portals offering digital payment services. There is no doubt that demonetisation is a great move for a better future of India and its economy. It will definitely influence many more shoppers to start using plastic money in the long-term. Already, malls see usage ...
IDFC Bank to acquire Grama Vidiyal Micro Finance
The Dollar Business Bureau IDFC Bank has signed a share purchase agreement on Tuesday to acquire Grama Vidiyal Micro Finance Ltd. After completion of the acquisition, Grama Vidiyal will be a completely owned subsidiary of IDFC Bank. Tamil Nadu-based micro finance firm will act as IDFC Bank’s dedicated Business Correspondent. It will expand the delivery mechanism for the services of IDFC Bank. The acquisition will help IDFC Bank to increase its network and reach to a large customer base in the country. Post-acquisition, IDFC Bank can access Grama Vidiyal’s network of 1.2 million households in 319 rural and semi-urban areas across 65 districts of Tamil Nadu, Kerala, Karnataka, Pondicherry, Maharashtra, Gujarat and Madhya Pradesh. With this, the customers of Grama Vidiyal will benefit from IDFC Bank’s ...
India may need to import 10 MMT pulses in 2015-16
The Dollar Business Bureau India may need to import more than 10 million metric tonnes (MMT) of pulses to meet the domestic consumption demand during the current financial year as the production is expected to go down due to shortage of rain, an industry body has said. “Considering deficit in rainfall for 2015-16, it is expected that the production of pulses for the year would decrease slightly to 17 MMT against 17.2 MMT recorded in 2014-15,” said the Associated Chamber of Commerce and Industry (ASSOCHAM) in its study. The five major pulse producing states—Maharashtra, Karnataka, Rajasthan, Madhya Pradesh and Uttar Pradesh— contributes around 70% of the country's total Kharif pulse production. But all these states witnessed shortage or rain fall ...
