RJ Corp keen to acquire more of PepsiCo India’s bottling operations

INDIA - Ravi Jaipuria, the promoter of RJ Corp, is keen to acquire PepsiCo’s bottling operations in India that his group doesn’t already own. “Whether PepsiCo wants to give us more is a call they have to take. We are keen. But it depends on them,” Jaipuria, promoter of the $1.6-billion diversified RJ Corp, said…

India doubles budget allocation for food processing sector

INDIA - To ensure better returns to farmers, the government today doubled budget allocation to the food processing ministry to Rs 1,400 crore (US$218.4 million) for 2018-19 fiscal and set up institutions to finance agro-processing projects. To encourage each district to focus on cultivation of specific crops, the government will re-orient current schemes and promote…

Alibaba leads $300 million funding for Indian online grocer Bigbasket

INDIA - Alibaba Group Holding Ltd led a $300 million investment into India’s biggest online grocer Bigbasket, signalling that the region’s segment is firing up. Hari Menon, Bigbasket’s co-founder and chief executive officer, said the investment values the company at $950 million—just $50 million under the $1 billion valuation that would have earned it tech…

IFF breaks ground on new flavors and fragrances plant in India

INDIA - International Flavors & Fragrances Inc. (IFF) has broken ground on a new flavors and fragrances plant located in Sri City, in the State of Andhra Pradesh in India. The new facility, which will be the largest flavor and fragrance manufacturing facility in India and the largest IFF site in Greater Asia, occupies a 32-acre/130,000m2…

Carlsberg India establishes new brewery in Karnataka

INDIA – Carlsberg has established a new brewery in Karnataka, India with the aims to further strengthen its capacity and foothold in the southern region, reinforcing its commitment to India and strengthening its increasing footprint in the country. According to the company, the establishment of this new brewery is an aspirational step to further strengthen…

Arjuna launches shelf life extending preservative for frying oils

INDIA - Arjuna Natural Ltd, India’s leading manufacturer and exporter of standardized botanical extracts for pharmaceutical and nutraceutical industries has launched a natural preservative that extends shelf life of frying oils. The preservative is advocated as all-natural, GMO-free, oil-soluble, vegan with a formulation to combat oxidation, thermal degradation and extending the frying cycle of vegetable…

Morgan Stanley values Indian food delivery company Zomato at US$2.5 billion

INDIA - Wall Street giant Morgan Stanley’s research unit has pegged Zomato’s valuation at $2.5 billion in a report released Thursday. This is almost three times its valuation from its last funding round. The coverage on Zomato by the international brokerage firm was done while taking stock of the startup's publicly traded shareholder InfoEdge, which…