Salt intake among adult Indians excessive and unhealthy, PHFI says

INDIA - Salt intake among adult Indians has been found to be high and exceeding the levels recommended by the World Health Organisation, according to a recent study conducted by the Public Health Foundation of India (PHFI). According to Economic Times India, the scientific evidence indicates that high dietary salt intake has detrimental effects on…

Carlsberg increases ownership in Cambodian brewer to 75%

INDIA – Carlsberg, one of the leading brewery groups in the world, has increased its ownership in the Cambodian brewer Cambrew Limited (Cambrew) by 25% and as a result, the Carlsberg Group now owns 75% of Cambrew. According to the company, Cambrew is among the largest brewers in Cambodia. Its largest beer brand – the…

Food safety agency starts framing GM food regulations after trace ingredients found

INDIA - The Food Safety and Standards Authority of India (FSSAI) said it has started framing regulations for genetically modified (GM) food after trace in trace ingredients were found present in products. According to FSSAI, the regulations covers procedures for safety assessment and approval of foods such as imported items that are genetically modified based…

Zomato expands operations to 7 more cities as India forms its largest focus market

INDIA - Restaurant service and online delivery platform Zomato said it is expanding operations to seven more cities in tier II region with India forming its largest focus market in growth plan. According to an article in the ETRetail, Zomato has gained a strong foothold in both tier II and tier III cities and this…

PepsiCo’s Varun Beverages profit rises 25% with revenue matching estimates

INDIA - Varun Beverages Ltd (VBL), PepsiCo’s largest franchise bottler of soft drinks has reported that its consolidated net profit in the second quarter increased by 24.92% to US$44.14 million while revenue matched estimates, reported Indiainfoline. Profit margin contracted by 150bps year-on-year due to sub-optimal volumes/margins in acquired sub-territories. Also, during the quarter company had…

Fertilizer major partners Spain firm to venture into food processing with US$46m plant

INDIA - Indian Farmers Fertiliser Cooperative Limited (IFFCO) has formed a joint venture with Spanish frozen vegetables business Congelados De Navarra with US$46.7mn investment to set up a food processing facility in Ludhiana, Punjab. This marks an entry into food processing for the fertilizer major, set to benefit from Congelados De Navarra’s individually quick frozen…

Delivery startup DailyNinja acquires milk delivery business 4amShop in a cash deal

INDIA - DailyNinja, Bengaluru-based hyperlocal subscription delivery startup has acquired milk delivery startup business 4amShop in an undisclosed cash deal as it seeks to expand its presence in Southern India. On completion of the transaction, the founders of 4amShop will exit and 2,000 customers of 4amShop will be transferred to DailyNinja, according to inc42. The…

Anti-Profiteering agency questions Subway, KFC and Pizza Hut on tax cuts

INDIA - The National Anti-Profiteering Authority (NAPA) has questioned Subway, Yum Restaurants owned Pizza Hut and Kentucky Fried Chicken (KFC) for not fully passing on cuts in goods and services tax (GST) rates to consumers. The fast food restaurants were indicated to have impartially adhered to lower GST rates by passing tax cuts on select…

Competition Commission of India clears Walmart’s US$16bn Flipkart acquisition

INDIA- The Indian regulator has approved Walmart’s US$16 billion acquisition of India’s largest e-commerce firm Flipkart, its biggest takeover ever in a fast growing retail space. In May, Walmart announced the acquisition of 77% stake of Flipkart to beef up competition against its rival Amazon who acquired Whole Foods, the American organic products retailer for…

Fonterra re-enters India through a joint venture with Future Group

INDIA - New Zealand dairy giant Fonterra has partnered with fast moving consumer goods arm of Future Group, Future Consumer Ltd to form a joint venture that will see the dairy co-operative launch dairy products in India. Fonterra Future Dairy Partners, a 50:50 joint venture will enable Fonterra tap a significant portion of the dairy market…