South Korean giant Lotte Confectionery has fully acquired Havmor Ice Cream Ltd in India for Rs1,020 crore (about US$157.9m), entering the ice cream snacks segment as well as expanding its business network across India.
India’s Supreme Court has dismissed state compliance to India’s Food Security Act as “pathetic”, and said it was a “pity” that legislation enacted by parliament had been kept on the "back-burner" for four years.
India’s national fruit may break the bank later year with mangoes for domestic consumption in short supply owing to significant crop damage and rising export orders.
Cadbury’s Indian arm has revealed plans to build the biggest chocolate plant in the Asia-Pacific region. The Indian plant, in Andhra Pradesh, will come at an investment of more than Rs1,000cr (US$163m).
India’s seed industry is predicted to be worth Rs10,700 crore by 2015, according to a study by the Association of Chambers of Commerce and Industry (Assocham), corresponding to a 50% increase on the current value.
The Indian state of Uttar Pradesh is set to launch a food park project that is expected to give food processing in the state and the country a mega boost, government sources said.
The West Indian state of Gujarat is fast becoming a hotbed of multinational food processing thanks to an upcoming food park and a foreign investor friendly administration.
The western state of Gujarat has passed one of the most stringent laws in India against illicit liquor, as the death toll from consumption of the toxic ‘hooch’ in the eastern state of West Bengal reaches 170.
