Announcing the initiative, Nidhi Khare, Secretary of the Department of Consumer Affairs, highlighted the potential of these technologies to revolutionize tomato processing in the country. “These low-cost interventions, adding an additional cost of as little as Re 1 or 50 paise per kg, will not only reduce wastage but also add value even to tomato waste,” she said during a press meet on Friday.

India, the world’s second-largest producer of tomatoes, harvests 20 million metric tons annually but processes only 1% of its produce. By contrast, other nations process 60-70%. To bridge this gap, the government expects the new technologies to significantly enhance domestic processing capabilities, reducing dependence on imports. Last year, India imported $20 million worth of canned and processed tomatoes, with 70% sourced from China.

The initiative comes against the backdrop of periodic spikes in tomato prices, particularly during the monsoon season when heavy rains disrupt crops and logistics. Prices peaked this year at Rs 80-85 per kg, underscoring the urgent need for supply chain efficiencies.

The prototypes for the 28 selected solutions are now ready, with plans underway for scaling up these projects in partnership with the government. The aim is to boost processing capacity, improve price stability, and transform waste into valuable products, thereby benefiting farmers, consumers, and the industry alike.

This effort marks a significant step in India’s pursuit of self-reliance in agricultural processing and reducing food waste.

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Users can conveniently make payments using international credit cards or UPI options, providing flexibility for those staying connected with loved ones in India. Phani Kishan, Swiggy’s co-founder and Chief Growth Officer, stated that the feature was introduced in response to demand from users who previously enjoyed Swiggy while living in India or during visits. It allows them to send gifts, order groceries, and deliver essentials to family members back home, especially during festive occasions.

The launch comes ahead of the festive season, catering to families looking to share moments and celebrations, such as sending Diwali sweets, booking anniversary tables, or gifting thoughtful surprises during Bhai Dooj and Christmas. The platform aims to make it easier for NRIs to stay involved in family celebrations and ensure their loved ones in India feel cared for.

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Kapoor’s remarks come at a crucial time when workplace stress and burnout are under the spotlight, following multiple reports of deaths linked to work pressure. He criticized the narrative of overworking, highlighting the disconnect between public perceptions of hustle culture and the reality of how late workers begin their day. Kapoor candidly stated, “Wo jo 3 baje raat ko baithte hain na wo ye nahin batate ki wo 1 baje dopahar ko office aate hain” (People who talk about working till 3 in the night do not mention that they come to office at 1 in the afternoon).

While Kapoor acknowledged that there are times when extra hours may be necessary, he firmly stated that it should not become a norm or badge of honour. He stressed on the importance of prioritizing relationships with family, friends, and loved ones, advocating for a healthier approach to work-life integration.

His perspective, bolstered by his extensive leadership experience across top firms like McKinsey & Company, Max India Limited, and OYO, has resonated widely. Social media users praised Kapoor for speaking out against a culture that often leads to burnout. His stance stands in contrast to the advice of Infosys founder N.R. Narayana Murthy, who recently suggested a 70-hour workweek, sparking further debate on the issue.

As corporate leaders increasingly recognize the need for sustainable work practices, Kapoor’s comments add weight to the growing movement towards signifying employee well-being. This conversation is critical in redefining how success and productivity are viewed in today’s fast-paced work environment. The conversation surrounding hustle culture is far from over, but voices like Kapoor’s signal a shift towards healthier, more balanced professional lives.

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Earlier this year, Starbucks announced its goal to open a new store every third day, aiming to reach 1,000 cafes in India by 2028. D’Souza reassured that these plans remain on track, with the main challenge being the availability of quality real estate for new outlets.

The leadership transition comes as Starbucks appointed Brian Niccol, CEO of Chipotle, as its new chairman and CEO. The company is looking to revive sales after reporting a decline in same-store sales for the first time in nearly three years. Globally, Starbucks saw a 1% drop in net revenue in the three months ending in June, while sales in India grew by 4%.

Despite this growth, Tata Starbucks reported a 12% increase in sales to ₹1,218 crore in FY24, though losses widened to ₹81.8 crore. The Indian market, which is still predominantly tea-drinking, presents unique challenges for coffee retailers. However, Starbucks remains optimistic about its future in India, even as new competitors like Pret A Manger, Tim Hortons, and Third Wave Coffee expand their presence.

Pret A Manger, in partnership with Reliance Brands, has opened 11 stores in India, with plans to launch up to 100 outlets in the next five years. Tim Hortons aims to establish more than 100 stores within three years, while Third Wave Coffee has already surpassed the 100-store milestone.

D’Souza emphasized that Tata Starbucks is fully committed to its Indian operations and views competition as a positive force that drives improvement. “We are building muscle and investing in this business,” he stated, underscoring the company’s long-term ambitions for India.

As coffee penetration in India remains low at around 25%, D’Souza noted that the market is still in the early stages of transitioning from tea to coffee, with a preference for blended beverages like frappuccinos over traditional espresso. Despite these challenges, Starbucks is bullish on its growth prospects in India, with all the necessary elements in place to accelerate its expansion further.

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The Mission for Integrated Development of Horticulture (MIDH) is a key program offering financial assistance for the construction, expansion, or modernization of cold storages. Under this scheme, a credit-linked back-ended subsidy of 35% of the project cost is available for general areas, while a more substantial 50% subsidy is provided for hilly and scheduled areas. The support is contingent on the Annual Action Plans (AAPs) submitted by States and Union Territories, reflecting local needs and available resources.

Additionally, the National Horticulture Board (NHB) has a dedicated scheme for the construction, expansion, or modernization of cold storages and Controlled Atmosphere (CA) storage facilities. This scheme provides a credit-linked back-ended subsidy of 35% in general areas and 50% in the North East, hilly, and scheduled areas. Notably, in the North East region, units with capacities exceeding 1000 MT are also eligible for assistance, highlighting the government’s focus on enhancing infrastructure in this key area.

Another significant program is the Scheme for Integrated Cold Chain, Food Processing, and Preservation Infrastructure (PMKSY), which operates under the Pradhan Mantri Kisan Sampada Yojana. This scheme targets the reduction of post-harvest losses and aims to provide fair prices to farmers. It offers grants of 35% for general areas and 50% for North East, Himalayan States, ITDP areas, and Islands for the development of storage and transport infrastructure. For value addition and processing infrastructure, the grants are higher, reaching 50% and 75% respectively, with a maximum grant-in-aid of Rs. 10 crore per project. However, standalone cold storages are excluded from this scheme.

The Agricultural Marketing Infrastructure (AMI) scheme, part of the Integrated Scheme for Agricultural Marketing (ISAM), focuses on enhancing storage capacity for agricultural produce by supporting the construction of godowns and warehouses. This scheme offers subsidies of 25% for plain areas and 33.33% for North East and hilly regions. It is available to a range of beneficiaries including individuals, farmer groups, cooperatives, and state agencies, reflecting a broad scope of support for agricultural stakeholders.

Furthermore, the government has introduced the Agriculture Infrastructure Fund (AIF), a Rs 1 lakh crore initiative aimed at strengthening agricultural infrastructure. Under this fund, there is provision for collateral-free term loans up to Rs. 2 crore and an interest subvention of 3% on loans used for creating post-harvest infrastructure, including cold storages. This fund underscores the government’s commitment to improving agricultural infrastructure through accessible financial support.

In related updates, a new mobile app has been launched for the upcoming 3rd World Food India 2024. This app will facilitate seamless access to event information, including buyer-seller meetings, event updates, speaker profiles, and real-time navigation features, enhancing the experience for attendees.

A 2022 study by NABARD Consultancy Services has also highlighted the critical need for such infrastructure improvements. The study found post-harvest losses ranging from 3.89% to 15.05% across various crops, including cereals, pulses, oilseeds, fruits, and vegetables, emphasizing the importance of these government initiatives in mitigating waste and improving efficiency in the agricultural sector.

The crop wise details are given below:

Annexure: Harvest and post-harvest losses of major agricultural crops and commodities

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Wardwizard Foods has lately entered the UAE’s renowned sector, offering high-quality Ready-to-Eat (RTE) goods. This action is intended to strengthen the company’s reputation for competence and dependability in the Middle East sector. The demand for RTE goods in the United States is also increasing, making Wardwizard Foods a popular choice among both American and NRI consumers looking for simple and quick dinner alternatives.

Building on its success with RTE goods, Wardwizard Foods is now expanding into the US market with their exquisite frozen snack line. The firm has received large orders, demonstrating the rising popularity and trust in its products. Wardwizard has expanded its North American business by receiving big orders for frozen foods from Canada. This expansion demonstrates the widespread appeal and popularity of its varied product offering.

Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Limited, commented, “Our focus on exports is a strategic move to capitalise on the growing opportunities in the global market.” The steady stream of orders demonstrates high demand and trust in our products. We are devoted to improving our manufacturing capabilities and increasing our product line to meet the changing demands of our worldwide customers.”

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The FMCG industry, which faced significant challenges post-pandemic, including consistent degrowth in rural markets for several quarters, has shown remarkable recovery and adaptability. The latter half of 2023 saw a notable rebound in both volume and value, indicating a resilient turnaround. “The FMCG sector’s resilience and adaptability, coupled with strong government support and digital transformation initiatives, position it favourably to navigate uncertainties and emerge stronger,” the report states.

The report highlights that the sector has navigated through inflationary pressures, subdued consumer confidence, and prevailing unemployment rates, showcasing its resilience in the face of adversity. Despite these challenges, the industry’s economic footprint has grown substantially, now exceeding ₹9.1 lakh crore. This expansion underscores the sector’s pivotal role in driving India’s economic growth and employment generation.

Rural Recovery and Market Trends

The second half of 2023 marked a significant recovery in the FMCG sector, with an impressive nationwide volume growth of 8.6% in Q3, largely driven by a 6.4% growth rate in rural markets. This resurgence signals a favourable consumption environment, bolstered by evolving consumer trends and increased spending power in rural areas.

“The rural sector, which had been experiencing successive degrowth, has bounced back significantly, contributing to the overall growth of the FMCG industry,” the report indicates. This recovery is largely credited to key governmental initiatives like the Gati Shakti and Amrit Kaal Vision 2047, which have played crucial roles in strengthening the FMCG sector’s foundation and fostering long-term growth.

Digital Transformation and Consumer Behavior

The report also emphasizes the increasing importance of digital channels in the FMCG sector. Online sales have surged and are now valued at ₹1.7 lakh crore, reflecting a rapid digital transformation and shifting consumer purchase behaviors. Direct-to-consumer (D2C) segments are leading this transformation, showcasing the industry’s adaptability to changing market dynamics and its proactive approach towards catering to digitally savvy consumers.

“The FMCG sector’s proactive embrace of digitalization trends underscores its capacity to adapt to changing consumer preferences and market conditions,” notes the report. The adoption of digital tools has not only enhanced operational efficiency but also strengthened consumer engagement, driving sustained growth in the sector.

Government Support and Future Prospects

The report credits the sustained growth prospects of the FMCG sector to robust government initiatives aimed at boosting consumption and job creation. Programs like Gati Shakti, which focuses on infrastructure development, and Amrit Kaal Vision 2047, which envisions a long-term roadmap for economic growth, have been instrumental in fostering a conducive environment for the FMCG industry.

“The risk index for the FMCG sector has decreased from 68 to 66, indicating improved stability and lower risk, reflecting the sector’s strengthened foundation and favourable outlook,” the report adds.

As the FMCG sector continues to recover from post-pandemic challenges, it is poised for sustained growth in 2024. The combination of robust government support, digital transformation, and the sector’s inherent resilience is expected to drive a steady growth rate of 7-9%. This growth will not only enhance the economic footprint of the FMCG industry but also play a crucial role in India’s overall economic development.

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Mumbai, May 24, 2024 — The Indian ice cream industry is on a fast track to significant growth, according to a new report by Firoz Haider Naqvi, Editor & Publisher of Ice Cream Times. The comprehensive report titled “Report on the Indian Ice Cream Industry: Growth Prospects and Potential” provides an in-depth analysis of the market, highlighting key growth drivers, market segmentation, and opportunities for allied sectors and foreign investments.

Market Expansion and Growth Projections

The Indian ice cream market, currently valued at approximately Rs. 30,000 crore (USD 2 billion) as of March 2023, is projected to grow at a compound annual growth rate (CAGR) of 10–12% over the next five years. This growth trajectory is expected to propel the market to an impressive Rs. 50,000 crore by 2028. With per capita consumption of ice cream in India crossing 1.8 litres, the potential for further growth is substantial.

Key Drivers of Growth

The report identifies several key factors driving this robust market expansion:

1. Increasing Disposable Incomes: As incomes rise, consumers are more inclined to spend on premium and indulgent ice cream products, particularly in urban areas.
2. Changing Consumer Preferences: There is a growing demand for novel flavours, health-conscious options, and premium products such as gelato and frozen yoghurt.
3. Urbanization and Lifestyle Changes: Urbanization has spurred demand for ready-to-eat and convenience foods, including ice cream. Modern retail formats and online delivery services have also enhanced product accessibility.
4. Expansion of Retail Networks: The proliferation of modern retail outlets and e-commerce platforms has significantly improved product availability and visibility.

Market Segmentation and Trends

The report segments the market by type, flavour, and distribution channel:

• By Type: Impulse ice cream (bars, cones) holds the largest market share due to its convenience and affordability. Take-home ice cream (tubs, boxes) and artisanal ice cream are also growing steadily, driven by consumer interest in unique and high-quality ingredients.
• By Flavour: While traditional flavours like vanilla, chocolate, and mango dominate, there is an increasing demand for exotic and fusion flavours.
• Distribution Channel: Includes supermarkets and hypermarkets, convenience stores, ice cream parlours, and online platforms. Online sales are particularly growing due to the convenience and variety offered.

Opportunities for Allied Sectors

The expanding ice cream industry presents numerous opportunities for allied sectors:

• Ice Cream Processing Machinery and Automation: There is a growing demand for advanced processing machinery and automation to enhance production efficiency and product quality.
• Packaging Machinery and Materials: Innovations in sustainable and functional packaging are increasingly in demand, driven by consumer preferences for eco-friendly and convenient solutions.
• Cold Chain Logistics and Freezers: Efficient cold chain logistics and reliable commercial freezers are crucial for maintaining product quality and safety.
• Ice Cream Ingredients: The demand for high-quality flavours, colours, emulsifiers, stabilizers, dry fruits, nuts, skimmed milk powder, fresh milk, and chocolate is rising as manufacturers aim to improve product quality and variety.

Opportunities for Foreign Companies and FDI

The report also highlights significant opportunities for foreign direct investment (FDI) and the entry of multinational brands into the Indian market. With favourable FDI policies and a growing consumer base, foreign companies can enter through joint ventures, greenfield investments, and mergers and acquisitions.

Top Regions and Brands

Maharashtra, Gujarat, Uttar Pradesh, Delhi, Punjab, Karnataka, and Telangana are identified as top regions with significant market share. Leading brands such as Amul, Hindustan Unilever (Kwality Wall’s), Mother Dairy, and Vadilal continue to dominate, while numerous small and medium enterprises contribute to the market’s regional diversity.

Conclusion The Indian ice cream industry is poised for substantial growth, driven by favourable demographics, rising incomes, and evolving consumer preferences. Companies that innovate and expand their

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The infusion of funds from this latest round will play a crucial role in the brand’s expansion, focusing on strengthening its presence across offline retail touch points and enhancing brand-building initiatives. Akash Sharma, co-founder of Farmley, expressed enthusiasm about the investment, stating, “This new round of investment brings us a step closer to our mission of becoming a household brand and contributing to a healthier world.” Sharma emphasized that the funds will be pivotal in advancing product innovation, diversifying distribution channels, and amplifying brand-building efforts.

Co-founder Abhishek Agarwal highlighted the evolving consumer preference for snacks that not only taste good but also offer nutritional value, aligning with the growing awareness of health and wellness. Agarwal stated, “This fresh infusion of funds will allow us to take our brand to new heights and reach a wider audience of snack enthusiasts.” Leveraging Farmley’s deep sourcing advantage, an in-house product development unit, a robust product-market fit playbook, and an expanding omnichannel distribution network, the company is poised to capitalize on the burgeoning demand for healthier snack options.

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Chocolate maker Mars Wrigley’s India unit has said its Skittles chocolate brand being sold in India complies with local regulations, days after the global chocolate giant was sued in the US for allegedly using “harmful toxins in Skittles unfit for consumption”.

A spokesperson for Mars Wrigley India said: “While we do not comment on pending litigation, our use of titanium dioxide complies with FDA and local regulations.” The company, which makes Galaxy, Snickers, Twix and Bounty in the country, said its use of ingredients is “as per defined limits.”

Mars is facing a lawsuit in the US which claims that its button-shaped Skittles candies contain “toxic levels of titanium dioxide and are unfit for human consumption”.

According to the lawsuit, “the labelling, packaging, and marketing materials of the products have false and misleading claims that, among other things, the products are safe for human consumption.”Mars Wrigley launched Skittles in India in 2019, to expand the bite-sized category, and set up competition with Cadbury Gems from Mondelez in the country-a priority market identified by the US chocolate maker. The company has been playing on affordable packs and localizing its brands with Indianized flavours.

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