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India’s logistics cost will come down to single-digit in two years: Gadkari

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
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Bikaji Foods to acquire 53% stake in The Hazelnut Factory for Rs 131 cr

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
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Creaticity adopts a house of brands model

Creaticity will bring home furniture and decor brands from across the world to India, with 10 such brands in its portfolio by January 2025 Mumbai: Pune-based Creaticity, which operates a leading destination for interior design solutions, is adopting a house of brands approach, according to the company’s senior official. Through this approach, Creaticity will bring various reputed and top-draw home furniture and décor brands under one roof and provide holistic product solutions to their customers. “Indian customers are progressive, aspirational, premium-seeking and balance-conscious, (simply put PAPB) and our thought process is that we should offer a curated bouquet of brands, who are a combination of manufacturers plus brands, especially to the Indian consumers across the prestige-premium segments,” Mahesh M, CEO of Creaticity told IndiaRetailing. Creaticity is a division of Deepak Fertilisers and Petrochemicals Corporation Ltd. Its 3.5 lakh sq. ft. mall in Pune dedicates 2 lakh s
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Footwear brand Yoho raises Rs 27 cr in pre-series B funding

Yoho aims to deploy the additional funds to drive its growth and innovation, including investment in research and development New Delhi: D2C footwear brand Yoho has raised Rs 27 cr in a pre-series B funding round led by Gulf Islamic Investments (GII), a release by the company said on Tuesday. Gulf Islamic Investments is a leading Shariah-compliant global alternative investment company, with over $4.5 billion of assets under management. Notable additional investors supporting the Yoho round included Rajeev Misra (CEO, SoftBank Investment Advisers), Vijay Shekhar Sharma (CEO, Paytm), Rukam Capital, and Pankaj Chaddah (Founder, Shyft). “We are thrilled to have the support of our investors, and we’re excited to leverage these partnerships to drive our next phase of growth. With this capital infusion, we are well-positioned to accelerate our product development, expand our market reach, and create an even more significant impact in the lives of consumers,” said Ahmad Hushsam and Prateek
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La Pink onboards Parineeti Chopra as its first brand ambassador

Established in 2023, La pink offers more than 60 products in its portfolio Bengaluru: Homegrown beauty brand La Pink has onboarded Bollywood actress Parineeti Chopra as its first-ever brand ambassador, the company said in a press release on Tuesday.  Chopra will help La Pink in its mission to inspire conscious beauty and create a healthier future for both consumers and the planet, the release added. La Pink claims to be India’s first beauty brand with 100% microplastic free formulations. Established in 2023 with 17 products, today, the company has more than 60 products in its portfolio.  “As  a  passionate  advocate  for  social  change, Chopra’s support for initiatives that uplift women and foster self-love resonates deeply with La Pink’s mission of giving the best to the community,” said Nitin Jain, founder of La Pink. “We are thrilled to collaborate with her to encourage our community to embrace their individuality and celebrate their unique beauty with only the best of natura
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DPIIT relaxes quality control order for cookware, utensils for micro units

The quality control order on cookware, utensils and cans for foods and beverages was issued last year to cut imports of sub-standard goods and promote domestic manufacturing New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) on Tuesday said it has relaxed the mandatory quality control norms for cookware and utensils for micro units. The quality control order (QCO) on cookware, utensils and cans for foods and beverages was issued last year to cut imports of sub-standard goods and promote domestic manufacturing . “To enhance ease of doing business, several relaxations have been introduced in the QCO, which includes exemption from the QCO for very small micro-enterprises (i.e. micro-enterprises registered under the Udyam portal) where the investment in plant and machinery does not exceed Rs 25 lakh, and the turnover does not exceed Rs 2 crore,” it said. Further, a six-month relaxation to clear legacy stock has been provided through a specific provision and
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D2C brands see 64% surge in festive orders, outperforms marketplaces: GoKwik

Major marketplaces of the Indian e-commerce ecosystem ran their biggest festive sales starting from 25 September till Dussehra. New Delhi: D2C brands have outpaced marketplaces during the recent sale period, recording a 64% growth in orders from last year, compared to the 26% growth seen on marketplaces, a release by New Delhi-based e-commerce enabler brand GoKwik said on Tuesday. Major marketplaces of the Indian e-commerce ecosystem ran their biggest festive sales starting from 25 September all the way till Dussehra. Earlier, D2C brands used to witness a dip in ordeis time, but the wheel has shifted since last year. Footwear, a commonly offline dominant category, emerged as a leader in driving growth and saw a massive 273% increase in orders, followed by fashion & beauty, which saw an 84% and 73% increase in orders respectively. Jewellery too, which is predominantly preferred to be bought online saw a 38% increase in orders. This cements the growing shopper trust in D2C that
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