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• Record-breaking election spending set to ignite rural demand, feel experts

  "We expect the economy to bounce back on multiple counts in the backdrop of the election. First, anticipation of a good monsoon is expected to boost the rural economy. Secondly, with the softening of raw material prices, while companies are gearing up to pass on the benefits to the consumers, they will also invest more in brand building. The combination of these will definitely push the demand for the FMCG sector up," said Emami Wholetime Director & Vice Chairman, Mohan Goenka.

  

• From powders to liquids: Competition heats up in liquid cleaners market in India

  India's market sees a surge in liquid cleaners' popularity, driven by ecommerce growth and competition among top companies like HUL, ITC, and Colgate. The trend towards premium, differentiated products reflects changing consumer preferences and aspirations.

  

• FSSAI calls reports of allowing 10x more MRL in herbs, spices as 'false and malicious'; says India has most 'stringent standards'

  The Food Safety and Standards Authority of India (FSSAI) has clarified that it allows 10 times more pesticide residue levels in herbs and spices, stating that it has one of the most stringent standards of Maximum Residue Levels (MRL) of pesticides. The MRLs of pesticides are fixed differently for different food commodities based on their risk assessments. India has registered over 295 pesticides, with 139 approved for use in spices alone.

  

• DMart's net profit surges 22.3% to Rs 563 crore in Q4 FY24; sees continued uptick in general merchandise and apparel contribution

  On DMart's brick-and-mortar business and overall performance, Neville Noronha, CEO and managing director said, “We ended the year with growth across key financial parameters of Revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9 per cent during FY 2024 as compared to FY 2023." The company said it has 284 stores that are 2 years or older. In the year 2023-24, it has opened 41 new stores taking the total store count to 365.

  

• Fruits pack a punch in India’s mocktail market

  Readymade punches and mocktail companies that use 'natural' ingredients such as fruits, roots, herbs, and spices are entering India's beverage market due to a trend towards healthier options and convenience. Party animals are now preferring fruity concoctions over alcoholic drinks due to the shift from boozy highs and soda burps. A study by Statista predicts a 2.3% volume growth in the global market for non-alcoholic drinks this year.

  

• Govt lifts onion export ban; imposes minimum export price of USD 550 per tonne

  "The export policy of onions is amended from prohibited to free subject to MEP of USD 550 per metric ton with immediate effect and until further orders," the directorate general of foreign trade (DGFT) said in a notification.

  

• Demand subdued in top-consumers India, China despite price drop

  In India, the world's second-largest gold consumer and a major importer, domestic prices fell to around 70,500 rupees per 10 grams this week, after hitting a record high of 73,958 rupees last month.

  

• Mia by Tanishq on expansion mode; sets up four retail stores in TN

  The company has inaugurated three new stores with one each in Kellys, Adyar, and Velachery in Chennai and another in Tiruppur district, a company statement here said.

  

• Britannia Industries Q4 Results: Cons PAT declines 4% YoY to Rs 538 crore; dividend declared at Rs 73.5 per share

  Britannia Q4 Results: The PAT was in line with the Street's estimates, which predicted the same at Rs 537 crore. The total revenue reported in the January-March quarter stood at Rs 4,069.36 crore, which was up nearly 1% over Rs 4,023.18 crore reported by in the corresponding quarter of the last financial year.

  

• Consumer companies on recovery path; FY25 India business looks bright

  Global and Indian companies like Coca-Cola, Apple, and Reliance Retail anticipate a successful year ahead with strengthened demand post-March, despite global economic challenges. Robust growth forecasts are backed by increased consumer spending and a positive outlook for India's GDP.

  

• ‘Apple logs double-digit revenue growth in India’

  Apple CEO Tim Cook spoke about Apple’s growing engagement in India across retail functions and developer ecosystem as he pointed to sustainability efforts initiated by the company in water conservation. Apple is growing sales channels in the country, apart from engaging deeper with the developer ecosystem, says Cook. He had visited India last year to inaugurate two company-owned stores.

  

• FSSAI allows 10 times more pesticide residue in herbs, spices

  India dilutes pesticide norms for herbs and spices, raising MRL to 0.1mg/kg. Activists fear harm to exports. Concerns include health risks, cumulative pesticide effects, and harm from unknown pesticides on imports.

  

• Surat to Jammu, diverse customer profiles coming through ONDC: Snapdeal’s Himanshu Chakrawarti

  Snapdeal’s focus on value e-commerce appears to be doing well with its collaboration with ONDC as it sees a majority of customers from smaller towns and tier-2, 3 cities.

  

• Blue Star has a very balanced growth in both B2B and B2C segments; Jan-July overall market growth to be 30-35%: Vir Advani

  Blue Star's Vir Advani discusses strong Q4 performance, market growth outlook, revenue milestones, and technological advancements. Anticipates continued demand revival, capacity expansion, and industry growth with a focus on innovation and efficiency improvements.

  

• Britannia expands its distribution network to 27.9 lakh outlets in FY24

  ​​In a tepid consumption scenario in 2023-24, Britannia’s consolidated revenue grew 3.5 per cent to Rs 16,546 crore with an operating profit growth of 10.1 per cent as against the consolidated revenue of Rs 15,985 crore in the previous fiscal year. However, it reported a dip of 3.76 per cent in consolidated net profit at Rs 536.61 crore in the fourth quarter (Q4) ended March 2024 as against the net profit of Rs 557.60 crore in the same period a year ago.

  

• Raymond Q4 PAT rises 18% to Rs 229 crore

  Consolidated net revenue in the quarter under review was Rs 2,688 crore as against Rs 2,192 crore in the year-ago period, up 23 per cent, it added. For the fiscal ended March 2024, consolidated profit after tax was Rs 1,638 crore compared to Rs 529 crore in the previous fiscal. Its consolidated net revenue in FY24 stood at Rs 9,286 crore over Rs 8,337 crore in FY23, the company said.

  

• Swiss Military to invest Rs 56.5 crore to set up manufacturing unit in Faridabad

  Spread over 1.21 acres and a built-up area of about 85,000 square feet, the plant will have a production capacity of 10 lakh pieces per year, it said. Anuj Sawhney, managing director of the company said, "Our own manufacturing capabilities will help establish Swiss Military's commitment to modernisation within the travel gear sector in the Indian market and to shorten go-to-market timelines with new products."

  

• India has made ETO testing mandatory for export of all spices to Singapore and Hong Kong

  India’s Spices Board has made testing for ethylene oxide (ETO) mandatory for all spices being exported to Hong Kong and Singapore, where authorities last month stopped sales of some products of two Indian spice brands on the ground that they contained high levels of ETO, a carcinogen. Testing has been made mandatory from May 6.

  

• Titan Q4 net profit rises 7% YoY to Rs 786 crore

  Net sales in January-March 2024 advanced 17% YoY to Rs 10,047 crore, compared to Rs 8,553 crore in the same period last year. The Board has recommended a dividend of Rs 11 per equity share for FY24. The Board has also approved the reappointment of CK Venkataraman as the MD of the company for a further period with effect from October 2024 up to December 2025. EBIT for the fourth quarter rose 8% YoY to Rs 1,139 crore, while EBIT margins declined 95 basis points to 11.1%.

  

• Indian diamond jewellery market to grow to US$ 17 bn by 2031

  Nirav Bhansali, Convener of National Exhibitions at GJEPC, said, “In the gems and jewellery industry, we are not merely purveyors of luxury; we are guardians of tradition, custodians of culture, and champions of craftsmanship. But in order to honor our rich heritage, we must also embrace the winds of change. Today, we are surrounded by the brightest minds and the most promising talents of our industry."