Organic food tops shopping list in most homes during monsoon
The demand for organic food has shot up during the monsoon, as most are careful about hygiene during this season. When it comes to fresh produce, the organic market has become popular. Clean and fresh fruits, and hygienically packed vegetables and even spices and lentils are the biggest draws. The sales boom for this market confirms the rise in demand. While Navi Mumbai does have its share of consumers looking for organic products, there are not enough stores to meet the demand. An online grocery portal based in Koparkhairane has been flooded with orders. “Since our produce is more hygienically sorted and packed, customers prefer to buy online,” said a sales attendant. At most markets, the organic sections are separated and, of course, a tad more expensive. “I don’t mind paying a bit more if the veggies are cleanly grown and packed,” said Malini Deshmukh, a resident of Vashi. There are a number of producers who sell organic products at malls, and apart from the season’s best they also sell an assortment of herbs, salad greens and exotic vegetables. “We cater to a different section, they expect quality and they know it will be higher priced,” said an attendant. Here apart from fresh organic produce, one can also buy packed dried spices, whole and powdered, grains, lentils and cooking oils. Often consumers avoid products from the market because of hygiene issues. “Much of it is wet when it arrives. We have a hard time keeping them dry,” said Shiram Jaiswal, a vendor from Sanpada. Bobby Massie Authentic Jersey
Lifestyle International plans expansion as ecommerce threat fades
Lifestyle International, the Bengaluru-based retailer, has set a target of becoming a billion-dollar (nearly Rs 6,750 crore) turnover company by March 2017 by adding more stores, a top official said. “This will be the most aggressive expansion for the company post 2010. Our expansion plan is firm, we have been on track. But sometimes malls get delayed,” said Kabir Lumba MD Lifestyle International. The company clocked a turnover of Rs 5,700 crore during the last financial year. Lifestyle International operates stores under Lifestyle, Max and Home Center formats across major cities. The company plans to open around 25-30 Max stores, 10-12 Lifestyle stores and 3-4 Home Center forums in tier I and II cities including Bengaluru, Delhi, Agra, Indore, Lucknow and Howrah. “We started getting into tier II towns sometime back and we are seeing healthy traction across all regions for both tier I and tier II cities,” said Lumba. The company currently has around 230 stores across Lifestyle, Max and Home Centre formats in India. The Indian retail sector is seeing huge competition from e-commerce giants like Amazon, Flipkart, Myntra and Snapdeal. “Overall there is greater confidence among retailers. Earlier, there was threat from ecommerce platforms in terms of discounting, impacting footfalls. But this is diminishing now and is positive for retail industry,” said Devangshu Dutta CEO Third Eyesight, a retail consultancy firm. Globally, India is among the top 10 retail markets. According to a recent report by Confederation of Indian Industry (CII) and consulting firm The Boston Consulting Group, the retail sector in the country will double to levels of $1.1-1.2 trillion by 2020 from $630 billion in 2015. Paul Goldschmidt Womens Jersey
NHAI awards Rs 895 crore road project in Rajasthan to L&T
The National Highways Authority of India (NHAI) has awarded a Rs 895 crore project in Rajasthan to Larsen & Toubro. “The NHAI has issued Letter of Award (LOA) for development of 4-laning of Bar-Bilara-Jodhpur section in Rajasthan under phase IV of National Highways Development Projects (NHDP) to Larsen & Toubro,” NHAI said in a statement. The 111 km section connects the western Rajasthan and border area (Jodhpur-Jaisalmer-Barmer) to eastern part of the state – Ajmer and Jaipur. The stretch will be four-laned at a cost of Rs 895 crore, it said. “This is a major strategic route connecting Jodhpur as an important feeder route during war time. Four-laning of the section will permit smooth flow of military traffic as well as heavy commercial and domestic traffic. It will also facilitate transportation of mining and agriculture product,” the statement said. The project will have two bypasses, one at Bar (3.25 km)and another at Bilara (6.70 km), 4 flyovers, 3 pedestrian under passes, 4 major bridges and one railway over bridge. The project would be executed on EPC (engineering, procurement and construction) mode and is scheduled for completion in 30 months from the date of commencement. Bobby Wagner Jersey
Bhiwadi may get India’s first cargo airport
The ministry of civil aviation is likely to select Bhiwadi, a town in Rajasthan near New DELHI, as the spot for the country’s first cargo airport and make Jewar in Greater Noida the second passenger airport in the National Capital Region. “It would make sense to make Bhiwadi the first cargo airport in the region. We are discussing it as a possibility,” said a senior official, who did not want to be identified. “One will have to cross Delhi airport to reach Bhiwadi. So, what is the point of shifting the airport beyond the existing airport? An airport in Jewar would complement the existing airport and help decongest the existing airport,” the official added. The ministry is looking at two options to build second airport – one is Bhiwadi and the other Jewar in Greater Noida, Uttar Pradesh. While an airport at Bhiwadi had been planned as part of the Delhi-Mumbai Industrial Corridor and has received a no-objection certificate from the government, the previous Mayawati government had proposed an airport in Jewar years ago.
Indian ecommerce sector sees 50% drop in funding
Fund raising in the Indian ecommerce sector declined 50% in the April-June quarter over the same period of last fiscal, investment bank and securities firm Jefferies Group said on Tuesday. “Private funding in the Indian ecommerce sector has declined 50% on yearly and quarterly basis, confirming the downward trend over the months,” the American firm said in a report. Barring leading hotel rooms’ aggregator Oyo, which raised $100-million in April, there were fewer large transactions, indicating a slowdown in private funding in the emerging sector. Data shows fund raising declined sharply to $500 million in the quarter (Q1) under review from $1 billion in the like period over the last two fiscal years, Jefferies said. Oyo raised its equity fund from SoftBank, GreenOaks Capital, Lightspeed Venture Partners and Sequoia Capital. Observing that challenges were greater for larger firms looking for raising $100 million, Jefferies equity analyst Arya Sen said the revenue growth for Just Dial would be key for fund raising for start-ups and entrepreneurs. “In response to the slowdown in funding, there has been a shift in focus to profitability by the larger e-tailers over the last 6-9 months from growth and general merchandise volume (GMV),” Sen recalled. “Though most ecommerce firms are targeting to break even over the next 12-24 months by reducing discount, change in mix towards profitable categories and customers, change in strategy and loss of market share to the global e-tailer Amazon have slowed growth for many,” the report pointed out. Funding into travel suggests that high burn will continue for MakeMytrip despite an overall slowdown in the category. “Funding into travel space has remained strong with Goibigo, Oyo, Stayzilla and Fab Hotels raising money in the last five months,” the report noted. Global multinational internet and media group Napsers is reported to have committed $250 million to Goibibo. Jefferies expects 15% revenue growth for Just Dial, with contribution from JD Omni, though its management indicated a gradual return to 20% revenue growth in this fiscal (FY 2017). “Traction from JD will be key to look out for Just Dial guidance of 25,000 customers by this fiscal end and 10% revenue growth contribution from Omni,” the report added. Ramik Wilson Authentic Jersey
Odisha to invite EoI soon from international air carriers
The state government would soon invite Expression of Interest (EoI) from international air operators to run flights from the Bhubaneswar airport to South East Asian hubs such as Singapore, Thailand and Malaysia. “To begin with, we are keen to have outbound flights from Bhubaneswar to the South East Asia countries.The objective of floating the EoI is to ascertain from the international carriers on the options they can offer for running international flights to and from the Bhubaneswar airport. The options can be on fare structure and frequency and timing of the proposed flights”, said a state official. He said, a couple of carriers had evinced interest to operate international flights to and from Bhubaneswar but refused to divulge their names. Global carriers like flydubai and Air Asia had submitted schedules to run commercial operations from Bhubaneswar. While flydubai will offer connectivity from Bhubaneswar to Dubai, Air Asia will run flights between Bhubaneswar and Kuala Lumpur. Apart from flydubai and Air Asia, Air Arabia and SilkAir have also evinced interest to start commercial operations. Pierre-Edouard Bellemare Womens Jersey
UP airports to be government priority
The Union government is going all out to operationalise airports in India’s most populous state Uttar Pradesh, with the move being politically significant since state Assembly elections there are just about a year away. The Delhi-NCR (National Capital Region) may also get a second airport apart from the IGI airport in the capital, with minister of state for civil aviation Mahesh Sharma saying “the case of constructing an airport in Jewar (near Greater Noida in UP near Delhi) had been sent to the ministry of defence for their NOC (no-objection certificate)”. He also said a “major effort was underway to operationalise numerous airports in Uttar Pradesh” and that the decision was the outcome of a review meeting that was held earlier in the day that he had chaired. The meeting was attended by Union civil aviation secretary R.N. Choubey, senior officers of the state-run Airports Authority of India, the director, Civil Aviation of the Uttar Pradesh government and district magistrates of the concerned districts in Uttar Pradesh. Mr Sharma informed that “Rs 400 crore assistance will be provided by the Centre for developing the airports in Agra, Allahabad, Kanpur and Bareilly” and “this would be done within a period of one-and-a-half months”. Jersey
Modi’s Regional Connectivity Gambit: Breathing Life Back Into India’s Ghost Airports
The Civil Aviation Ministry last week made public the Modi government’s plan to drastically boost regional air connectivity, an attempt that if successful will revive wasting and abandoned aviation infrastructure while proving to be a major shot in the arm for regional tourism and commerce. While the decision to cap regional air-fares is being sold and viewed in some quarters as a populist or aam-aadmi measure, according to experts and industry insiders The Wire spoke with, it will also be a test of how well the Modi government will be able to conquer the white elephants it has been saddled with and ultimately a test of the prime minister’s infrastructure-driven growth strategy. From 2009, by a number of estimates, the country’s central governments have spent over $50 million on eight airports that currently do not receive scheduled flights. The most well-known case is the Jaisalmer airport, which cost over $17 million to build but never operated any scheduled flights. “Across India, it’s easy to see the end results of the previous government’s plan to open 200 no-frill airports as a means of boosting regional connectivity. They [the airports] are all, for the most part, in various states of disuse. They were opened up due to political pressures, with various local parties thinking if you opened up an airport in a town, flights would automatically follow,” one aviation analyst who helped in drafting the document said. Michael Grabner Authentic Jersey
FDI in airlines may hit air pocket with Centre’s circular on ownership
Experts have described as ‘contradictory’ and ‘confusing’ a circular issued by the Centre stating substantial ownership and effective control (SOEC) of airlines should vest with Indian nationals as it runs contradictory to its decision to raise foreign direct investment (FDI) limit in airlines to 100 per cent. The Department of Industrial Policy and Promotion (DIPP) had issued the circular retaining the clause which said substantial ownership and effective control (SOEC) should vest with Indian nationals. “Hundred per cent FDI with substantial ownership and control lying with Indian nationals is contradictory, baffling and has created needless confusion,” said Amber Dubey, Partner and India Head of Aerospace and Defence, KPMG. While the DIPP circular mentions that 100 per cent FDI equity is permitted for scheduled domestic airlines and regional air transport services, it also adds that “there is no change in the Other Conditions mentioned in the FDI policy for this sector.” The other conditions for the civil aviation sector, in the FDI policy (2016), clearly mention that an air operator permit will be granted to a company only if it is registered in India, the Chairman and two-thirds of its directors are Indian citizens and substantial ownership and effective control is vested in Indian nationals. “Either the government has to change the conditions (of the FDI policy) or amend some rules,” said Devraj Singh, Executive Director – Tax and Regulatory Services, EY. “Unfortunately or fortunately, they have deliberately mentioned that other conditions will remain the same.” There was no clarity on the ownership clause for foreign airlines among both the civil aviation ministry and the DIPP. “Please ask the civil aviation ministry about the other conditions. As far as we are concerned, the conditions remain the same,” a senior DIPP official said. James Van Riemsdyk Authentic Jersey
KGLNG gets green nod for Rs 1,270-cr expansion project in AP
Krishna Godavari LNG Terminal Pvt (KGLNG) has got green nod for development of an offshore LNG floating storage and re-gasification unit at Kakinada Deep Water Port in Andhra Pradesh at a cost of 12.70 billion. Due to shortage of domestic supply of natural gas, the net gas supply made available to Andhra Pradesh is very low. KGLNG’s proposed project is aimed to boost natural gas supply for various industries like fertiliser in the state. “Based on the recommendations of theExpert Appraisal Committee (EAC), the Environment Ministry has given clearance to KGLNG’s proposal,” a senior government official said. The clearance is subject to certain conditions, including obtaining prior permission from the Standing Committee of the National Board for Wildlife, the official added. As per the proposal, KGLNG — a special purpose vehicle of US-based VGS Group Inc — will set up offshore LNG floating storage and re-gasification unit (FSRU) in two phases with a handling capacity of 3.60 million tons per annum (mtpa) in phase-I and ultimate capacity of 7.20 mtpa in phase-II to meet natural gas demand in the state and project region. The total cost of the project is Rs 12.70 billion while that of phase-I will be Rs 8.70 billion that will be commissioned in 1 year after obtaining due clearance. The phase-II project, which will cost Rs 4 billion, will be commissioned in 24 months after the commissioning of phase-I. Among other conditions specified, KGLNG has been asked to obtain the ‘consent to establish’ from the State Pollution Control Board and comply with the conditions of the AP Coastal Zone Management Authority. It has also been told to operate the terminal for 270 days in a year. Cam Newton Jersey