Addressing an event organised by NITI Aayog, Gadkari said the ministry is constructing several highways and expressways, which will help reduce India’s logistics cost New Delhi: Union Road Transport and Highways Minister Nitin Gadkari on Thursday said India’s logistics cost will come down to single-digit within the next two years. Addressing an event organised by NITI Aayog, Gadkari said the ministry is constructing several highways and expressways, which will help reduce India’s logistics cost. “Within two years, we are going to reduce our logistics cost to 9 per cent,” he added. According to quick estimates of the economic think tank National Council of Applied Economic Research (NCAER), logistics costs in India ranged between 7.8 per cent to 8.9 per cent of GDP for the fiscal 2021-22. Gadkari said there is huge potential for India to export alternative fuels and biofuels. He also pointed out that low-quality coal is useful for making methanol. The minister added that India
The investment will be done in tranches and is expected to be completed in the next two years, it added. New Delhi: Bikaji Foods International Ltd on Wednesday said it will acquire a 53.02% stake in Hazelnut Factory Food Products Pvt Ltd for Rs 131.01 crore to mark its foray into the quick service restaurant segment. Bikaji Foods Retail Ltd (BFRL), a wholly owned subsidiary, will make a strategic investment of Rs 131.01 crore for an acquisition of a 53.02% stake in The Hazelnut Factory (THF), a cafe-cum-artisanal sweets brand based in Lucknow, Bikaji Foods International said in a statement. The investment will be done in tranches and is expected to be completed in the next two years, it added. “This acquisition marks a significant step in Bikaji’s journey to expand beyond traditional ethnic snacks and enter into retail QSR, premium artisanal sweets and bakery segment,” Bikaji Foods International Managing Director Deepak Agarwal said. He further said, “This strategic move not onl