Arvind Fashions had sold its Sephora business to Reliance Retail in the last December quarter. According to AFL, its profit from continuing business was at Rs 25 crore, up 72 per cent year-on-year. AFL's revenue from operations was up 3.66 per cent to Rs 1,093.85 crore during the quarter from Rs 1,055.20 crore a year earlier.
Sethi called for FSSAI's chief executive officer (CEO) to engage with the industry, exchange ideas and foster collaboration to support startups and product innovation against bigger players. He proposed setting up "Plant Protein Clusters" across states to facilitate collaboration between institutes, startups and the government.
Priya Guha, the new chair of FICCI UK Council, and Baroness Usha Prashar discuss the India-UK Free Trade Agreement, emphasizing research, innovation, and cultural ties for a stronger bilateral partnership.
Whirlpool of India on Monday reported a 24.7 % increase in consolidated net profit to Rs 79.45 crore in the March quarter with net profit of Rs 63.71 in January-March quarter of the previous fiscal.
Government finds non-compliant Everest Spices with ethylene oxide, asks for corrective action. MDH samples compliant. Spices industry evolving to meet MRL requirements. Reports on recall of Indian spice brands in Singapore and Hong Kong due to ethylene oxide residue. Spices exports rose 12.27% to USD 405.62 million in April.
"We are working to see whether a 'shared workplace' or 'coworking space' concept can be implemented for the warehouses maintained by e-commerce companies to store goods of multiple suppliers," the official told PTI. Under Goods and Services Tax (GST) law, suppliers to an e-commerce platform can store their goods at a common warehouse. However, the suppliers in their GST registration are required to show the warehouse as an additional place of business.
Commenting on the performance, Ashwani Arora, Managing Director and CEO of LT Foods said the company has delivered stellar growth in revenue and profitability for yet another year, despite facing a challenging external environment.
The commerce ministry discussed formulating SOPs for negotiating FTAs during a Chintan Shivir, engaging with trade partners like the UK, EU, Peru, Australia, and the Eurasian Economic Union. The discussions included India's trade strategy, vision 2047, and new disciplines like labour and environment.
B&A Ltd, a prominent company in the tea industry, has ventured into retail with its 'Gatoonga' brand of black tea, marking its first entry into the retail segment in its century-long history. The brand was launched in Assam, with plans to expand across India gradually. The company, previously focused on tea manufacturing, processing, packaging, tourism, and broking, now includes retail branding as its fifth vertical. With 11 tea estates in upper Assam and a recent acquisition, B&A Ltd aims for pan-India growth, investing Rs 50 crore over the next seven years.
An interim stay has been placed on the implementation of an order suspending manufacturing licenses for over a dozen medicines produced by Patanjali Ayurved Ltd and Divya Pharmacy. The stay follows a preliminary inquiry report from a high-level committee, stating that the suspension order was illegal and should not have been issued in the manner it was. The firms challenged the suspension order issued last month by the Uttarakhand state licensing authority, citing a lack of adherence to established legal procedures.
In New Delhi, on Thursday, FIEO President Ashwini Kumar projects India's merchandise exports to reach USD 500-510 billion by 2024-25, with services exports expected to be around USD 390-400 billion this fiscal, driven by traditional markets like the US and Europe.
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