Category — Retail

Cargill to Invest Additional $240 Million in India

Minnesota-based Cargill said it will invest $240 million in India over the next five years in its business of edible oil, cocoa and chocolates, starches and sweeteners, and animal nutrition. This announcement was made at the World Food India Conference held in Delhi in early November by Cargill Asia Pacific CEO  Peter Van Deursen, at a MoU signing ceremony in the presence of Harsimrat Kaur Badal, India’s minister for Food Processing.

Cargill Logo

Van Deursen said, “India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” reports BusinessLine.

The company employs more than 3,500 employees in India. Last year, Cargill inaugurated its first wet corn milling plant in India, set up with an investment of $100 million. The company also inaugurated a new dairy feed mill in Bathinda, Punjab, and its largest business services center in Bangalore.

November 7, 2017   No Comments

India is Fastest Growing Market for Hershey

For Pennsylvania-headquartered The Hershey Company, India has emerged as the fastest growing market in Q3 when Hershey India recorded a strong double digit constant currency net sales growth of 16 percent, overtaking Brazil and Mexico, and exceeding the company’s plans.

The Times of India reports that outside of North America, India is one of only four focus markets for Hersheys, the other 3 being China, Brazil and Mexic0. CFO Patricia A. Little said, “Our transition of the India portfolio is enabling a higher margin business, and we are on track to expand gross margins here by 1,000 basis points in 2017.”

Hershey's Chocolates

“We anticipate an investment of about $50 million during the next five years as we focus on growing and expanding our presence in India. India is one of our key International focus markets and we are investing to build this important business,” chairman and managing director, Hershey India, Praveen Jakate said. “This is enabling adjustments in the local marketplace that should result in a sustainable operating model,” he added.

 

 

 

November 3, 2017   No Comments

WhatsApp Partners with eTailers in India

With a 200 million plus user base that communicates in 10 Indian languages to generate 50 billion messages a day, Facebook-owned WhatsApp is turning toward businesses in India to monetize the platform. It has already partnered with travel portals  MakeMyTrip and Goibibo, and is now planning to add Flipkart, utility agencies, movie houses, and telecom players too. Users will be able to access the services offered and make payments on WhatsApp itself via a new WhatsApp wallet.

WhatsApp Logo

In February this year, WhatsApp co-founder, Brian Acton, met India’s minister for Information Technology Ravi Shankar Prasad to discuss ways the company could contribute to India’s digital commerce initiatives, reports the Business Standard.

 

October 31, 2017   No Comments

India Overtakes U.S. to Become 2nd Largest Smartphone Market

According to Singapore-based research firm Canalys, with more than 40 million smartphones shipped to India in the third quarter of 2017, India surpassed the United States to become the second-largest smartphone market. Shipments in Q3 grew 23 percent year-over-year in India, putting it in second place right behind China.

Samsung and Xiaomi accounted for nearly 50 percent of the market in Q3, shipping 9.4 million and 9.2 million units respectively, with Vivo, Oppo and Lenovo rounding out the top five places, reports ZD Net.

Samsung Smartphone

Ishan Dutt, research analyst at Canalys noted that there are close to 100 mobile device brands sold in India, and added that growth in India will continue, attributing it mainly to low smartphone penetration and the explosion of LTE. Analyst Rushabh Doshi said, “We predict Xiaomi’s continued go-to-market innovations will allow it to overtake Samsung within a couple of quarters.”

 

October 31, 2017   No Comments

Health Consciousness in India Boosts Dietary Supplements Market

BillionFit: Technology Redesigning Healthcare a joint study by Kalaari Capital and accounting and advisory firm Grant Thornton says that with India’s consumers now invested in healthier lifestyles, the fitness technology segment will double to $250 million by 2023. Wearable fitness devices such as fitness trackers, and smart technology such as smart shoes, stride sensors, and clothes integrated with  wearable technology will account for 90% of this projected growth.

Additionally, this awareness for good health will boost India’s dietary supplements market which is projected to expand at an estimated compound annual growth rate of 12% over the next four to five years. Online retailers such as Healthkart, Amazon, Medisys and Neulife are increasing their stocks of ‘super’ foods and supplements.

Wellness

Nutraingredients-asia quotes Vrinda Mathur partner at Grant Thornton who says, “The global realm of healthcare has radically shifted from ‘detect and manage’ to ‘predict and prevent.’ This change in mindset, combined with the rapid technological and socio-political impetus on improving health, is resulting in a fitness and health boom across the world.”

October 29, 2017   No Comments