ITC lines up Rs 10,000-cr investment to boost food processing business

Source: Business Standard, Nov 28, 2017

Kolkata: Cigarettes to fast-moving consumer goods (FMCG) firm ITC on Monday said it would invest around Rs 10,000 crore in the coming years to strengthen its business in the food processing sector.

 Sanjiv Puri, chief executive officer (CEO) of the company, said of the allotted investment, much of it would be in West Bengal. This is a part of the company’s Rs 25,000-crore-investment package that it has planned to invest on 65 projects, including 20 integrated factories for consumer goods across the country.

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Amazon invested $1 bn in India e-commerce arm since Jan

Source: Business Standard, Nov 16, 2017

Bengaluru: US online retail giant Amazon has invested Rs 6,200 crore (about $1 billion) in its e-commerce business in India since the beginning of this calendar year as it competes with cash-flush rival Flipkart.

Amazon Seller Services, largest arm of the US company here, has seen three rounds of capital infusion this year. The largest, of Rs 2,900 crore, was at end-September, according to official filings.

This brings the total pumped into this arm to Rs 17,839 crore ($2.7 billion). The figure shows how quickly Amazon has ramped up its investment in Indian e-commerce, with $1 billion of that being invested in 2017. The firm has also seen its authorised capital rise from Rs 16,000 crore to Rs 31,000 crore, which could signal the coming in of a lot more investment. Amazon aims to overtake Flipkart, which claims to have a cash reserve of $4 billion.

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Indian companies invest nearly $18 bn in US; create nearly 113,000 jobs

Source: Business Standard, Nov 15, 2017

Wahington: Indian companies have created more than 113,000 jobs in the US and invested nearly $18 billion in the country, according to an annual report which gives state-by-state breakdown of the tangible investments made and jobs created by 100 Indian firms doing business in America and Puerto Rico.

The report titled ‘Indian Roots, American Soil’, which was released by Confederation of Indian Industry (CII) yesterday, states that Indian companies have also contributed USD 147 million towards corporate social responsibility and $588 million as research and development expenditures in the US.

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Investment in food processing to surpass Rs 65,000 crore: Badal

Source: Business Standard, Nov 01, 2017

New Delhi: Already Rs 65,000 crore private investment has been committed in the food processing sector and more is expected during the mega global food event to begin from November 3, the government said today.

Of the total, more than 40 per cent of the investment has been committed by domestic players like ITC, it said, adding that this would create more than 10 lakh jobs in the country.

“Huge investment has been committed in the food processing sector because of transformation measures taken in the last three years and improvement in the ease of doing business,” Food Processing Minister Harsimrat Kaur Badal told reporters.

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FPIs pour USD 3-bn into Indian capital markets in Oct

Source: IBEF.org, Oct 30, 2017

New Delhi: Foreign investors have pumped in close to USD 3 billion in the Indian capital markets so far this month due to “high nominal and real yields” and stable macroeconomic conditions.

Interestingly, most of the funds have been infused in the debt markets.According to the latest depository data, FPIs invested a net sum of Rs 2,806 crore in the stock markets and another Rs 15,132 crore in debt, taking the total to Rs 17,938 crore (USD 2.75 billion) during October 3-27.

This follows a net outflow of over Rs 10,000 crore from the capital markets last month. Prior to that, they had pumped in Rs 1.78 lakh crore in the preceding six months (February- August).

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French firms aim at more in India

Source: Business Standard, Sept 28, 2017

Bengaluru: French companies would create more jobs in India in sectors such as manufacturing, information technology (IT), the industrial internet of things (IoT) and smart city projects, says France’s largest employer federation, Mouvement des Entreprises de France (MEDEF).

The body says it had discussion with both Indian and French companies, representatives from the Union government and business chambers Ficci and CII, to evaluate prospective sectors for growth. An MEDEF delegation had meetings in Delhi, Mumbai and Bengaluru.

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TN to invest INR1,000 crore in food-processing industry

Source: The Hindu Business Line, Sept 07, 2017

Chennai: Tamil Nadu will invest around ₹1,000 crore in food-processing projects in the next one year.

As part of this initiative, supply-chain management units will be set up in Erode, Krishnagiri, Dharmapuri, Nilgiris, Coimbatore, Dindigul, Theni, Tuticorin and Ramanathapuram at an investment of INR 398 crore.

The project is funded by Nabard and the State government.Speaking at the 12th edition of Food Pro 2017, organised by the Confederation of Indian Industry, O Panneerselvam, Deputy Chief Minister, said the State is a front runner in agriculture production.

Creates more jobs

Only 4.6 per cent of the produce is processed and 35 per cent of vegetables and fruits goes waste due to the lack of adequate cold-storage facilities.Panneerselvam said the push to food-processing is the need of the hour, as it can ensure better return to farmers and create more jobs in rural areas. He said the State will put in place regulations to ensure quality and food safety to become a global food market. Keeping in line with this objective, a research and development centre and public-private partnership will be explored to bring in innovative products with longer shelf life, he added.