Key Daily Developments in FMCG Industry

India Infoline News Service | Mumbai | March 02, 2016 12:21 IST

IIFL's initiative to keep you abreast with the key developments of the FMCG industry. The information has been sourced from several leading media publications and curated for the readers for a quick glance.

India's Rs 14,000-crore soft drink industry has requested Finance Minister Arun Jaitley to reverse an excise duty increase on aerated beverages proposed in the Budget. "We urge the finance minister to reconsider the latest increase in excise duty. The viability of the industry could be at grave danger because of such a consistent adversarial tax approach," the Indian Beverage Association, which represents Coca-Cola and PepsiCo, said in a statement on Tuesday. (ET)

Walmart and Tesco are likely to take advantage of the government's latest liberalisation policy of allowing 100% overseas capital in processed food retailing. (ET)

In a major reforms push, Finance Minister Arun Jaitley, said 100% foreign equity will be allowed in the retail of domestically-processed food to give a push to the country's farm sector. (BS)

Given the budget’s rural thrust, consumer packaged goods (CPG) companies are hopeful of a volume-led growth recovery in the latter half of the calendar year. As commodity costs declined in the first month of the calendar year, and volumes remained muted, leading CPG companies cut prices on some of their flagship products. (Live Mint)

 

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