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• Odisha approves investment of Rs 3,353 crore in various sectors

  The Food Processing sector continues to attract significant investment, with several projects from companies such as Bhuvaneshwari Foods and Beverages, Aban Beverages, and Geofast Consumer Products. These projects, located in Khurda, Baragarh, and Cuttack, will have a combined investment of Rs 1,542.04 crore and are expected to create over 1,358 jobs.

  

• Public digital infrastructure helped micro level players grow in India: FM Sitharaman

  "The government has come up with Open Network for Digital Commerce (ONDC), an open network for digital commerce that is helping even the bigger e-commerce businesses," said Union Finance Minister Nirmala Sitharaman.

  

• PepsiCo, Unilever selling products with lower health ratings in India: Report

  A new report criticizes major food companies like PepsiCo, Unilever, and Danone for selling less healthy products in India and other lower-income nations. The report found these companies' products in these markets receive lower health star ratings compared to those sold in wealthier countries.

  

• Cartier owner Richemont's profit miss, China caution hit luxury shares

  Richemont, the owner of Cartier, fell short of profit projections for the first half of the year and expressed caution regarding China's recovery, causing a decline in European luxury stocks. The company's sales were impacted by a downturn in the Asia-Pacific region, particularly in China, where consumer confidence remains low.

  

• Onion price hikes make wallets weep across India

  Onion prices in India have skyrocketed to Rs 70-80 per kilogram, impacting household budgets and causing distress among consumers. Vendors attribute the price hike to inflation and sourcing costs, while consumers express concerns about the affordability of this essential ingredient. Despite the surge, onions remain a staple, compelling people to purchase them despite the inflated prices.

  

• Walmart to offer independent drivers new holiday bonuses in battle with Amazon

  Walmart is offering new incentives to its Spark Driver network for the holiday season to compete with Amazon in the e-commerce market. The company aims to attract more upper-income households to its Walmart Plus membership by offering faster deliveries and potentially increase advertising revenue.

  

• IKEA ready for potential tariffs under Trump, CFO says

  IKEA says it is prepared for potential trade barriers. The furniture giant says it has learned from recent supply chain issues. IKEA is ready for potential tariffs under then-President Trump. The company's CFO says IKEA has improved its supply chain. IKEA is more reliant on imports in the US than elsewhere. IKEA's annual revenue fell but profits increased.

  

• GDP likely to grow 6.2 pc in Q2: Barclays

  India's economic growth is projected to slow to 6.2% in the second quarter of 2024-25, due to a high base effect and heavy rainfall, as per Barclays' estimates. While government spending and rural consumption are picking up, urban demand and private investment remain weak. Barclays has revised its GDP forecast for 2024-25 to 6.8% from 7% earlier, expecting a recovery in the second half of the year.

  

• Swiggy IPO oversubscribed as institutional investors do final-day heavy lifting

  Except for the portion set aside for non-institutional investors, which include corporates and HNIs, other categories were oversubscribed. Non-institutional investors bid for only 41% of the shares reserved for them in this second-largest IPO in India this year after Hyundai Motor India.

  

• Apple Inc sets up first subsidiary in India for R&D

  Apple established a new subsidiary in India, Apple Operations India, marking its first direct presence in the country. This subsidiary will focus on research, design, testing, and providing support to third-party manufacturers. This move signifies Apple's commitment to expanding its operational footprint in India beyond assembly and sales.

  

• AIPL to invest Rs 1,000 cr in new shopping centre in Gurugram

  Real estate developer AIPL is investing Rs 1,000 crore to develop a 10.43-acre retail and entertainment center in Gurugram. Called AIPL Joy District, the project will be completed by 2028 and will include retail shops, dining, a multiplex cinema, and entertainment venues. AIPL has secured several major brands as tenants, including House of Rare, UCB, PVR Luxe, and Hop Up.

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• Driving sustainable growth: Innovations and strategies for the FMCG industry

  India's consumer goods sector is changing. Technology and sustainability are driving forces. Consumers want eco-friendly packaging. Companies are innovating with recyclable materials. Collaboration is key to reducing waste. The industry aims to create a sustainable future for packaging.

  

• Safari Industries (India) net profit declines 25.40% in Q2 FY25

  Safari Industries India reported a 25.40% YoY decline in consolidated net profit to Rs 29.66 crore in Q2 FY25, despite a 23.72% YoY increase in revenue to Rs 457.79 crore. The luggage maker's profit before tax also fell by 27.07% YoY to Rs 37.84 crore, primarily due to a significant rise in total expenses, including a 53.

  

• Eureka Forbes Q2 Results: Net profit shoots up 83% YoY to Rs 46 crore, revenue up 27%

  Eureka Forbes reported an 83.2% YoY rise in Q2 net profit to Rs 46.67 crore, with revenues up 27.6% to Rs 672.87 crore. Growth was driven by product innovation, increased marketing, and early festive season demand.

  

• Linc appoints Sachin Bhatnagar as president - global business

  Linc, a writing instruments brand, has appointed Sachin Bhatnagar as its new president of global business. Bhatnagar brings over 30 years of experience to the role, having previously served as CEO at Lykis. He will be responsible for driving Linc's strategic direction and growth.

  

• Sony PlayStation 5 Pro launch in India cancelled due to 6GHz

  The gaming console uses Wi-Fi 7, a wireless standard that uses the 6GHz band for connecting to the internet. However, the band itself is embroiled under controversy with telecom operators pushing for it to be reserved for mobile internet services.

  

• CCI probe finds Zomato, Swiggy breached antitrust laws

  Zomato entered into "exclusivity contracts" with partners in return for lower commissions, while Swiggy guaranteed business growth to certain players if they listed exclusively on its platform, according to non-public documents prepared by the Competition Commission of India (CCI).

  

• Star Localmart aims to open 3,000 stores over next 5 years

  Star Localmart, the retail chain operated by Sanjay Ghodawat Group, has announced plans to expand its presence to 130 stores by March 2025. With an ambitious goal of 3,000 stores within five years, the company aims to establish a strong foothold in tier-3 and tier-4 towns across six states, focusing on providing convenient and affordable shopping experiences.

  

• Food companies sell products that are less healthy in poorer countries, says report

  Products sold by companies including Nestle, Pepsico and Unilever were assessed as part of a global index published by the Access to Nutrition Initiative (ATNI), its first since 2021. The non-profit group found that across 30 companies, the products sold in low-income countries scored lower on a star rating system developed in Australia and New Zealand than those sold in high-income countries.

  

• Orkla India looking for partnerships with local spice players: CEO Sanjay Sharma

  Orkla India, the parent company of MTR Foods and Eastern Condiments, is seeking partnerships with local spice and masala companies. The company aims to enhance its presence in the Indian market. Orkla India is also considering an initial public offering (IPO) in 2025. The company's international business is experiencing rapid growth.

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