India Business Insight articles from May 2010, page 2

India Business Insight archives from May 2010

CLUSTER DEVELOPMENT BOOSTS FOOD PROCESSING SECTOR (outside Pune).
May 31, 2010... The Apex Cluster Development Services Private Ltd will help to implement Small Industries Development Bank of India's cluster development programme outside Pune. There are about 1,200 micro enterprises in the food processing sector in the Pune...

DROP IN CASHEW PRODUCTION (in India to 6.3 lakh tonnes in 2009-2010 from 6.95 tonnes in 2008-2009).
May 31, 2010... The Directorate of Cashew and Cocoa Development of Kerala has said that unseasonal rains and high temperatures have reduced cashew yield by 8-10 percent. India's cashew production has dropped to 6.3 lakh tonnes in 2009-2010 from 6.95 lakh tonnes...

DROP IN WINE CRUSHING IN MAHARASHTRA (in the season of 2010).
May 31, 2010... The wine crushing in Maharashtra in the season of 2010 has taken a hit with wineries crushing lesser grapes in 2010 as compared to 2009. The drop in wine crushing is due to the fact that 1.5 lakh litres of wine from 2009 lies unsold.

FARMERS IN PUNJAB TAKE TO BANANA CULTIVATION (in a big way).
May 31, 2010... In order to break the wheat and rice rotation cropping pattern, farmers in Punjab have taken up banana cultivation in a big way. Banana farming in Punjab, which started in 2006 over 10 acres, now covers over 500 acres in just four years.

TEA BOARD TO AUDIT TEA ENTERING INDIA FROM NEPAL (as it competes with the Darjeeling tea).
May 31, 2010... The Tea Board of India is planning to audit the amount of tea entering India from Nepal as it competes with the Darjeeling tea. The Tea Board informed the Darjeeling Tea Association that it would appoint an agency to take up the audit soon. The...

INDIA GETS DIESEL (opens two stores in Mumbai).
May 31, 2010... Diesel, the premium casual brand, has opened two stores - on Juhu Tara Road and in Palldium Mall in High Street Phoenix - in Mumbai. Both the stores are displaying complete Diesel collection. Diesel is planning to open one outlet each in...

LILLIPUT ATTRACTS PE INFUSION (receives $86 million investment from two private equity funds).
May 31, 2010... Lilliput Kidswear has received Rs385 crore ($86 million) investment from two private equity (PE) funds - Bain Capital and TPG Growth - for an undisclosed minority stake. Bain capital has infused $60 million and TPG Growth $26 million....

CINEMAX LAUNCHED IN KERALA (Cinemax at present has 29 theatres with 94 screens in various cities).
May 31, 2010... Cinemax India has opened its four-screen multiplex at Oberon Mall in Kochi, Kerala. Cinemax at present has 29 theatres with 94 screens in cities like Mumbai, Ahmedabad, Hyderabad, Kolkata, Kanpur, Guwahati and Siliguri. It is planning to open...

NSR INVESTS Rs360 CRORE IN COFFEE DAY RESORTS (CDR will use the funds to set up new resorts and open more Coffee Day outlets).
May 31, 2010... New Silk Route (NSR), an Asia focused growth capital fund, has invested Rs360 crore in Coffee Day Resorts (CDR), a part of the Coffee Day Group. The CDR will use the funds to set up new resorts, open more Coffee Day outlets and also to...

FCUK STANDALONE OPENS IN MUMBAI (Brand Marketing India is the exclusive licensee for FUCK in India).
May 31, 2010... French Connection UK (FCUK), a high-fashion brand of UK, has opened its exclusive store at Bandra in Mumbai. FCUK has more than 1,500 stores in 25 countries. Brand Marketing India (BMI) is the exclusive licensee for FUCK in India. FCUK now has...

DESTINATION MATERNITY EXPANDS THROUGH SIS (maternity fashion apparels are now available in Mantri Square mall in Bangalore and Korum mall in Thane).
May 31, 2010... Destination Maternity Corporation (DMC), a global maternity apparel retailer, has opened two more Motherhood Maternity shop- in-shops (SIS). The maternity fashion apparels are now available in Mantri Square mall in Bangalore and Korum mall in...

M&B COMES TO ALPHAONE (showroom has on display varieties of footwear).
May 31, 2010... M&B Footwear, a footwear retailer, has opened a store at Alphaone in Amritsar, Punjab. The showroom has on display varieties of footwear. M&B has 38 exclusive stores, 97 shop-in-shops and 60 factory direct showrooms. The company is...

HAIER PLANS EXPERIENCE CENTRES (now has 10 experience centres and is opening 10 more by the end of April 2010).
May 31, 2010... Haier, a home appliances and consumer electronics brand, is planning to open 70 more experience centres in India by the end of 2010. It now has 10 experience centres. It is opening 10 more centres by the end of April 2010. It has launched a new...

MAX ENTERS EAST INDIA (opens its first store in Kolkata at New Town city centre).
May 31, 2010... Max, the fashion brand of Landmark group of Dubai, has opened its first store in Kolkata at New Town city centre. The 8,000 square feet store is targeting sales of Rs22-35 per square feet. The company is also planning to open 5-6 stores in...

THE LOOT ON EXPANSION SPREE (plans to open 50 more exclusive stores by the end of June 2010).
May 31, 2010... The Loot, the multi-brand fashion discount chain, has planned to open 50 more exclusive stores by the end of June 2010. It has opened its first shop-in-shop (SIS) at Sahakari Bhandar in Mumbai. With this, the total number of company's outlets...

BHARTI WAL-MART'S BEST PRICE MODERN WHOLESALE AT PUNJAB (during 2010, the company intends to open seven more stores across India).
May 31, 2010... Bharti Wal-Mart Private Limited, a joint venture of Bharti Enterprises and Wal-Mart Stores Inc, has opened its 50,000 square feet second Best Price Modern Wholesale cash-and-carry store at Zirakpur in Punjab. It had opened the first store at...

INOX OPENS AT MANTRI SQUARE (Inox has 32 multiplexes and 119 screens in 23 cities in India).
May 31, 2010... Inox Leisure started operations at Mantri Square mall in Bangalore on 24 April 2010. Excluding new screens at Mantri Square, Inox has 32 multiplexes and 119 screens in 23 cities in India.

TRENT TO RAISE Rs500 CRORE (a committee has been formed to work out the details of the issue).
May 31, 2010... Trent Limited is planning to raise not exceeding Rs500 crore through issue of securities on a rights basis. A committee has been formed to work out the details of the issue.

PAPA JOHN'S BIG PLANS (to open 10 more outlets before the end of April-June 2010 quarter).
May 31, 2010... Papa John's, a pizza restaurant chain of US, is planning to open 10 more outlets before the end of April-June 2010 quarter. It is planning to spend about Rs200 crore by 2015 to expand its business in India. The company plans to open outlets in...

SINGAPORE-BASED KOMALA'S IN INDIA (opens its outlet in Mumbai).
May 31, 2010... Komala's Restaurants of Singapore, a South Indian fast food chain, has entered India by opening its first outlet in Mumbai. Primary Cuisine Private Limited is its master franchisee. Komala's wants to open two more company-owned outlets in 2011...

COCOBERRY TO EXPAND (planning to open 50 more outlets during 2010-2011).
May 31, 2010... Cocoberry, a premium yogurt chain, is planning to open 50 more outlets during 2010-2011. It now has 11 outlets in Delhi and National Capital Region (NCR) of Delhi and Mumbai. New outlets are likely to come up in Jaipur and Bangalore by...

FREEZE TO ADD TWO OUTLETS (first floor of the Freeze Lounge, called Freeze-10, maintains a temperature of minus 10 degrees centigrade).
May 31, 2010... Freeze Lounge, an ice bar, which recently opened an outlet in West Gate Mall in Delhi, is planning to open two more outlets in Pune and Ludhiana. Freeze Lounge, located on the second and third floor of West Gate Mall, is designed and installed...

MUMBAI EDITIONS (Odyssey opens its exclusive store, Editions, a luxury pen brand).
May 31, 2010... Odyssey India Limited has opened its exclusive store, Editions, a luxury pen brand, in Mumbai. This is the company's third outlet in India. The company intends to open five more Editions stores in Chennai, Mumbai, Delhi and Hyderabad by Sept...

RELIANCE TIMEOUT EXPANDS IN BANGALORE (TimOut has now four stores in Bangalore).
May 31, 2010... Reliance TimeOut, the leisure stores of Reliance Retail, has opened two stores at Mantri Square mall in Bangalore. Apart from this TimeOut has three other stores in Bangalore. In all the company has nine stores in India.

PVR ENTERS CHENNAI (the seven-screen multiplex will have 1,794 seats).
May 31, 2010... PVR Limited has launched its first multiplex in Chennai at Ampa City Walk. The seven-screen multiplex will have 1,794 seats. The company intends to invest Rs120 crore for expansion the India. It will invest about Rs50 crore in South India in...

V MART TO FOCUS ON TIER II, III CITIES (opening 25 more stores during 2010-2011, of which eight will be opened during Apr-Jun 2010).
May 31, 2010... V Mart Retail Limited is opening 25 more stores during 2010-2011. Of this, eight will be opened during Apr-Jun 2010. The expansion will be done in tier-II and tier-III cities like Begusarai, Basti, Dahej and Balia. At present V Mart has 52...

THIRD EASYDAY IN NCR (Bharti now has six Easyday Markets in three states of India).
May 31, 2010... Bharti Retail has opened its third compact hyper store, Easyday Market, in the National Capital Region (NCR) of Delhi at Opulent Mall, Ghaziabad. Bharti now has six Easyday Markets in three states of India. Ghaziabad Easyday has over...

NUCLEUS, KOCHI TO OPERATE FROM JUNE 2010 (has total area of 2.3 lakh square feet out of which 1.25 lakh sq ft is for retail).
May 31, 2010... ABAD Builders is building Nucleus, a mall at Maradu in Kochi, Kerala. It is expected to become operational from June 2010. It has total area of 2.3 lakh square feet (sq ft) out of which 1.25 lakh sq ft is for retail, 45 sq ft for office...

PRIL DEMERGES MALL BUSINESS (merger scheme is subject to shareholders' approval).
May 31, 2010... Pantaloon Retail India Limited (PRIL) has demerged its mall management business and project management business to a subsidiary of the company. It has also demerged its mall asset management business and food services business into the stepdown...

GALAXY SPOTS OPPORTUNITY IN ASANSOL (mall covers 2.5 lakh square feet space).
May 31, 2010... Srijan Realty is opening its Galaxy mall at Asansol, West Bengal, in June 2010. The mall covers 2.5 lakh square feet (sq ft) space. The food court will have 13,000 sq ft area. Galaxy mall is built with an investment of Rs80 crore.

DLF ON A HIGH (DSIIDC opens a liquor shop at DLF Place, Sanket, New Delhi).
May 31, 2010... Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) has opened a liquor shop at DLF Place, Sanket, New Delhi. This is DIIDC's first liquor shop in a shopping mall.

CELEBRATION MALL TO OPEN IN Q4 2010 (mall with seven floors will cover an area of 3.9 lakh square feet).
May 31, 2010... Celebration Mall, built by CapitalMalls Asia and Advance India Projects, will be opened in the last quarter of 2010-2011 (Jan- Mar 2011) at Udaipur in Rajasthan. The mall with seven floors will cover an area of 3.9 lakh square feet. It will...

MAGARPATTA MALL TO START TRADING IN 2011 (mall built is with an investment of Rs275 crore).
May 31, 2010... Magarpatta Mall of Pune will start operations in Jan-Mar 2011. Cinopolis India will open a 15-screen multiplex at the mall. The mall built is with an investment of Rs275 crore. The mall will house 12 anchors.

MSI EXPANDS RETAIL REACH (opens a store in Bangalore and Kottayam in Kerala).
May 31, 2010... Micro Star International (MSI) has opened a store in Bangalore and Kottayam in Kerala. MSI specialises in design and manufactures main boards, graphic cards and notebooks. The company plans to open 80 more stores across India in 2010 as...

HYUNDAI ADDS TWO NEW VARIANTS TO i20 (called Era and Sportz).
May 31, 2010... Hyundai, India's second largest car manufacturer, added two new variants to its i20 called Era and Sportz. They come with additional features, which will help improve the i20 and make it even more attractive for its customers. Era is...

NEW ENGINES FOR THE VW JETTA AND PASSAT (because previous engines were a bit of a let down).
May 31, 2010... Volkswagen (VW) has provided new engines for its models, Jetta and Passat because previous engines were a bit of a let down. VW has put in the brilliant 2.0 litres common rail unit from its Laura in a slightly detuned state in VW Jetta and...

TOYOTA SETS PRODUCTION START DATE FOR ETIOS (as Dec 2010).
May 31, 2010... The production start date of Etios sedan by Toyota Kirloskar Motor has been set as Dec 2010. The new car has already been unveiled at the Delhi's Auto Expo in Jan 2010. Through this new model, Toyota will enter the mass market in India.

YAMAHA TO BRING THE NEW BW's 125 TO INDIAN SHORES (very soon).
May 31, 2010... India Yamaha Private Ltd will bring into the scooter market in India, the new BW's 125 Fi. The company has got strong support for its premium level products, the FZ series and the YZF-R15, which has prompted the launch in India of BW's 125 Fi...

YAMAHA STRENGTHENS ITS COMMUTER BRIGADE WITH THE YBR 110 (which is the more stylised version of current selling Alba bike).
May 31, 2010... Yamaha has launched the YBR 110, which is the more stylised version of current selling Alba bike. The new bike is aimed at meeting the needs of commuters. YBR 110 is priced at Rs41,000, ex- showroom, Delhi.

BAJAJ PULSAR 135 GRABS SECOND SPOT IN PERFORMANCE BIKE SALES (within 100 days of its launch).
May 31, 2010... Within 100 days of its launch, Bajaj Pulsar 135 has become the second best-selling performance bike in India. With sales of 25,000 units in Apr 2010, Pulsar 135 has joined its cousin, the Pulsar 150, which has been the best selling...

A CLUTCH-LESS JIVE (launched by TVS).
May 31, 2010... TVS Motor Company has launched its clutch-less bike Jive. The new bike offers an auto clutch technology that has never been used in an Indian bike. Jive is priced at Rs42,235, ex-showroom, Delhi.

KAWASAKI'S INDIAN SUBSIDIARY LAUNCHED (jointly with Bajaj Auto).
May 31, 2010... Kawasaki Heavy Industries of Japan has launched its Indian subsidiary, India Kawasaki Motors Private Ltd, jointly with Bajaj Auto. The new company will import and sell Kawasaki motorcycles in India.

SAME DEUTZ-FAHR INDIA RAKES IN THE MOOLAH (with 27% revenue growth in 2008-2009).
May 31, 2010... Same Deutz-Fahr India is the Indian subsidiary of the Italy-based tractor manufacturer. With 27 percent revenue growth in 2008- 2009, it is planning to ramp up sales network to continue with the momentum.

BAJAJ LAUNCHES NEW RE AUTORIKSHAWS (RE445M and RE145D).
May 31, 2010... Bajaj Auto has launched its new RE Autorikshaws RE445M and RE145D. While RE445M is diesel powered, RE145D is available in three fuel variants, CNG, LPG and Petrol. The RE445M is priced at Rs1.21 lakh, ex-showroom, Pune.

TRUCKERS TO GET ALL INDIA PERMIT FOR A SINGLE YEARLY FEE (says the Government of India).
May 31, 2010... The Government of India has fixed Rs15,000 as the single yearly fee for every truck to get an all India permit. This system will start from 1 May 2010. At present, truckers pay an annual fee of Rs20,000 per truck, which enables them to transport...

BORGWARNER SETS UP A PLANT NEAR CHENNAI (with an investment of Rs30 crore).
May 31, 2010... BorgWarner of US, an automotive component manufacturing company, has set up an environment friendly manufacturing facility in India at Sriperumbudur near Chennai with an investment of Rs30 crore. The plant has an installed annual capacity of...

SDF GROUP TO RAMP UP ITS ENGINE MANUFACTURING FACILITY (at Ranipet near Chennai).
May 31, 2010... The Same Deutz-Fahr (SDF) group of Italy, a farm equipment manufacturing company, is looking at upgrading and expanding its engine manufacturing facility at Ranipet near Chennai. The SDF group will source engines from the Ranipet facility for...

HLF GETS RBI NOD TO START OPERATIONS (of its vehicle financing business).
May 31, 2010... The Hinduja Leyland Finance (HLF) has been granted a certificate of registration by the Reserve Bank of India (RBI) that enables HLF to start operations of its vehicle financing business. The Hinduja group's flagship company, Ashok Leyland...

CHINESE SANY GROUP SETS UP MANUFACTURING FACILITY AT CHAKAN (which is its second standalone manufacturing facility in Asia).
May 31, 2010... The SANY group of China, a construction equipment manufacturer, has set up its manufacturing facility at Chakan near Pune, which is its second standalone manufacturing facility in Asia. Besides a core manufacturing unit, the Chakan facility also...

TATA MOTORS SELLS 20% STAKE IN TELCON TO HITACHI (Construction Machinery for Rs1,159 crore).
May 31, 2010... Tata Motors has sold another 20 percent stake in Telcon Construction Equipment Company to Hitachi Construction Machinery for Rs1,159 crore. Subsequent to this sale, Hitachi will own 60 percent stake in Telcon while Tata Motors will own 40...

OVER 1.1 LAKH TATA ACE SOLD (in 2009-2010).
May 31, 2010... During 2009-2010, the sales of the light commercial vehicle Tata Ace crossed one lakh mark to touch 1,10,032. In 2008-2009, Tata Ace had registered sales of 81,000.

M&M GRABS 60% SHARE IN UV SEGMENT (in 2009-2010).
May 31, 2010... In 2009-2010, Mahindra & Mahindra (M&M) grabbed 60 percent of the Utility Vehicle (UV) segment, which is a nine percent gain over 2008-2009. M&M sold 2,14,128 units of UV in 2009-2010 as compared to 1,53,655 units of UV sold during...

ELECTRAVAN WON'T COME BACK (says BHEL).
May 31, 2010... Bharat Heavy Electricals Ltd (BHEL) said that it would not restart the production of Electravan. The battery operated bus was India's first and BHEL was manufacturing it at its Bhopal facility. BHEL sold close to 300 Electravans at a cost of...

STAR BUS - DELHI GOVERNMENT JOIN HANDS (to operate the all new corporate fleet of CNG buses).
May 31, 2010... Star Bus Private Ltd has joined hands with the Government of Delhi to operate the all new corporate fleet of CNG buses in the national capital. They have signed a memorandum of understanding, whereby Star Bus has been given time of six months to...

BRIDGESTONE TO SET UP A PLANT NEAR PUNE (to produce radial tyres for the CV industry).
May 31, 2010... Bridgestone India is planning to set up its second tyre manufacturing plant at Chakan near Pune with an investment of Rs2,600 crore. The plant will produce radial tyres for the commercial vehicles (CV) industry and passenger cars. The...

ALL CONVERTS 761 BEST BUSES TO CNG (which will benefit BEST in terms of increased operational efficiency).
May 31, 2010... Ashok Leyland Ltd (ALL) converted 761 diesel powered buses of Brihanmumbai Electric Supply & Transport Undertaking (BEST) to run on CNG. This will benefit BEST in terms of increased operational efficiency.

INDIABULLS TO RAISE BEST BUS STATION AT SANTACRUZ, MUMBAI (in a deal worth Rs80 crore).
May 31, 2010... The realty company Indiabulls has made a deal worth Rs80 crore to construct the Brihanmumbai Electric Supply & Transport Undertaking (BEST) bus station at Santa Cruz (West) in Mumbai. BEST has leased out the plot to Indiabulls for a period...

TRUCK SALES RISE (by 99.30% in Mar 2010).(Financial report)
May 31, 2010... The truck sales have grown by 99.30 percent in Mar 2010 to 33,619 units from 16,868 units in Mar 2009. The truck sales covered the range of five tonnes to 49 tonnes. The total sales for 2009-2010 also grew by 37.60 percent to 2,40,840 units from...

TRUCK RENTALS ZOOM (in recent months).
May 31, 2010... Recent months have seen an increase of 1.5 percent to 2.5 percent in the truck rental charges. Generally truck rentals stand as a key indicator of economic growth. A 9-tonne payload complete round trip between Delhi to Mumbai and back increased...

MAGMA FINCORP TURNS AGGRESSIVE (and is expanding its network of branches and product portfolio).
May 31, 2010... Magma Fincorp has announced its plans to expand its network of branches and product portfolio. At present it has a network of 154 branches and proposes to increase it to 225 by 2013.

JCTSL CONSIDERS AN IT UPGRADATION (of its transport system).
May 31, 2010... The Jaipur City Transport Services Limited (JCTSL) has invited vendors for undertaking an information technology (IT) upgradation of its transport system. The plan is to install electronically operated devices for ticketing and vehicle...

NHAI EASES NORMS FOR WAYSIDE AMENITIES, RELAXES RENTALS (from 10% to 1%).
May 31, 2010... The National Highways Authority of India (NHAI) has planned to reduce the annual rent from 10 percent to one percent from private builders who will construct amenities on highways. The wayside amenities will include parking lots, restaurants,...

ACC (net profit decreased by 5.75% to Rs578.2 crore during Jan- Mar 2010).
May 31, 2010... ACC is adding 4.5 million tonnes of cement capacity in 2010. By the end of 2010, the company's capacity will increase from 26 million tonnes per annum (MTPA) to 30.5 MTPA. The company's net profit decreased by 5.75 percent from Rs613.47 crore...

BLUE DART EXPRESS (expects to grow by 20% every year).
May 31, 2010... Blue Dart Express has a 41.7 percent share in the organised domestic air express segment and a 9 percent share in the organised ground service segment. Blue Dart Aviation, in which Blue Dart Express has a 49 percent stake, has seven freighters...

CMC (net profit increases 23% from Rs116.15 crore in 2008-2009 to Rs143.23 crore in 2009-2010).
May 31, 2010... CMC Ltd, the 51 percent subsidiary of Tata Consultancy Services (TCS), posted a 23 percent increase in net profit from Rs116.15 crore in 2008-2009 to Rs143.23 crore in 2009-2010. Consolidated operating revenues declined from Rs939,83 crore to...

MASTEK (net profit declined by 54% from Rs33.38 crore during Jan-Mar 2009 to Rs15.26 crore during Jan-Mar 2010).(Financial report)
May 31, 2010... The net profit of Mastek declined by 54 percent from Rs33.38 crore during Jan-Mar 2009 to Rs15.26 crore during Jan-Mar 2010. Total revenues declined by 23 percent from Rs233.02 crore to Rs172.17 crore. The company expects to post a total...

RANBAXY (plans to launch close to 100 new products in 2010).
May 31, 2010... Ranbaxy expects to replace Cipla as the industry leader by 2012. The company is planning to launch close to 100 new products in 2010 and phase out a few of its existing products. It also plans to increase its market share by 1 percent by 2012....

BHEL (TRICHY UNIT): SALES TURNOVER CROSSES Rs10,00-CRORE MARK (in 2009-2010).(Financial report)
May 31, 2010... The Trichy unit of Bharat Heavy Electricals Ltd (BHEL) has created a record with its sales turnover crossing Rs10,000 crore and by posting an increase of 52 percent in gross profit in 2009- 2010. The sales turnover of the unit grew by 34...

WORLD INSTITUTE OF SUSTAINABLE ENERGY (is a not-for-profit body which began functioning in Jun 2004).
May 31, 2010... The World Institute of Sustainable Energy (WISE) is a not-for- profit body which began functioning in Jun 2004. WISE is involved in providing consultancy support to some major state electricity regulatory commissions and various renewable energy...

FERTILISER COMPANIES SIGN 140 LT IMPORT DEALS (for 2010-2011).
May 31, 2010... Since 1 Apr 2010, fertiliser companies have entered into contracts to import 140 lakh tonnes (LT) of fertiliser during 2010-2011 - 68.35 LT of DAP, 61.07 LT of MOP and 10.23 LT of NPK fertilisers. As on 1 Apr 2010, India had an opening stock of...

FACT PLANS TO INTRODUCE COMPLEX FERTILISER SOON (is developing FACTMIX, customised for soil and crop in Tamil Nadu, Karnataka and Andhra Pradesh).
May 31, 2010... Fertilisers and Chemicals (Travancore) Limited (FACT) is planning to soon launch a complex fertiliser under a new brand name. FACT is developing FACTMIX, customised for soil and crop in Tamil Nadu, Karnataka and Andhra Pradesh. FACT will also...

IOC FORMS JV TO PRODUCE HIGH-VALUE PETROCHEMICALS (joint venture to set up of a state-of-the-art Styrene Butadiene Rubber unit at Panipat).
May 31, 2010... Indian Oil Corporation (IOC) has entered into a joint venture with TSRC Corporation of Taiwan and Marubeni Corporation of Japan to set up of a state-of-the-art Styrene Butadiene Rubber (SBR) unit at Panipat. The aim of the joint venture is to...

RIL-GAIL IN PACT FOR COOPERATION IN PETROCHEMICALS (to explore opportunities for setting up petrochemical complexes abroad).
May 31, 2010... Reliance Industries Limited (RIL) and GAIL (India) Ltd have signed a Memorandum of Understanding (MoU) under which the two companies will explore opportunities for setting up petrochemical complexes abroad in feedstock rich countries. A working...

HEALTH FOOD MARKET IN INDIA TO REACH Rs55,000 CRORE BY 2015 (according to a report by management consulting firm Tata Strategic Management Group).
May 31, 2010... The Health & Wellness (H & W) food market in India will grow from the existing Rs10,150 crore to Rs55,000 crore by 2015, according to a report titled Health & Wellness (H & W) Foods in India by management consulting firm Tata...

FDI INFLOW INTO FOOD PROCESSING SECTOR INCREASED TWO-FOLD (during Apr-Dec 2009).
May 31, 2010... Foreign direct investment (FDI) flow into the food processing sector went up two-fold during Apr-Dec 2009 (the first nine months of 2009-2010). The FDI inflow increased from Rs455 crore during Apr-Dec 2008 to Rs937 crore Apr-Dec 2009. The...

MTR FOODS TO OUTSOURCE MANUFACTURING (has contracted a plant in Mathura for producing vermicelli).
May 31, 2010... For the first time, food processing company MTR Foods of Bengaluru is planning to utilise the services of a third party manufacturer. MTR has contracted a plant in Mathura for producing vermicelli. This move is expected to help MTR to expand...

ITC LAUNCHES SUNFEAST MARIE LIGHT OATS (the introductory price of the product is Rs10 for a 147-gram pack).
May 31, 2010... ITC has launched Sunfeast Marie Light OATS - a biscuit containing oats. The biscuits contain two fibres - natural wheat and soluble oats fibre. Oats are a good source of soluble fibre, which aids in digestion, and are a good source of vitamin E,...

GRUNDFOS INDIA ON EXPANSION MODE (inaugurated a facility at Thoraipakkam in Chennai).
May 31, 2010... Grundfos Pumps India Pvt Ltd has inaugurated a facility at Thoraipakkam in Chennai. The company has built the facility, in a record 11 months with an investment of Rs17.6 crore. The facility has very sophisticated material handling equipment...

ORISSA TO GET MEGA FOOD PARK AND MARINE FOOD PARK (on 282 acres of land at Malipara near Khurda).
May 31, 2010... The Government of India is planning to develop a mega food park and a marine food park on 282 acres of land at Malipara near Khurda in Orissa. Orissa is a major agriculture producing state of India, but still lags behind other states like...

PEPSICO LAUNCHES GATORADE SPORTS MIX POWDER (each sachet, priced at Rs15, makes 500 millilitres of Gatorade).
May 31, 2010... PepsiCo India has launched Gatorade Sports Mix to mark its entry into the powder category. The product is a ready-to-mix powder that allows consumers to make their own Gatorade by just adding water. Each sachet, priced at Rs15, makes 500...

AGRO TECH UNVEILS SUNDROP FRESHLITE (a scientific blend of canola oil and sunflower oil).
May 31, 2010... Agro Tech Foods Ltd has launched a new edible oil named Sundrop Freshlite. Sundrop Freshlite is a scientific blend of canola oil and sunflower oil which has the recommended ratio of Omega 6 and Omega 3. Agro Tech Foods is an affiliate of ConAgra...

NIKASU PLANS TO OPEN TWO NEW FOOD PROCESSING UNITS (in Uttaranchal and Jharkhand with an investment of Rs30 crore).
May 31, 2010... Nikasu Frozen Foods, the manufacturer and exporter of ready-to- eat food based in Kochi, is planning to set up two food processing units in Uttaranchal and Jharkhand with an investment of Rs30 crore. The company also plans to augment its...

FIVE NEW MEGA PARKS TO COME UP IN NORTH INDIA (Government of India intends to have at least one mega food park in each state).
May 31, 2010... The Government of India is likely to develop the five new mega food parks proposed in the Budget 2010-2011 in the northern states. The government intends to have at least one mega food park in each state. With the setting up of mega food...

MCDONALD'S UNVEILS ITS WEB ORDERING SITE (www.mcdelivery.co.in).
May 31, 2010... McDonald's has launched its web ordering service across India. Customers have to log on to the website www.mcdelivery.co.in and place their order. The customer will be able to order all the menu options from the website and McDonald's will...