Founded in 2022, Sumosave operates a Company-Owned, Company-Operated (COCO) chain of neighbourhood supermarkets focused on middle and lower-middle-income households across East and North India. Unlike premium supermarkets or hypermarkets that largely cater to affluent consumers, Sumosave’s proposition revolves around everyday grocery savings without compromising on product quality, assortment or convenience. The fresh capital will primarily fund store expansion, strengthen the supply chain and support leadership hiring as the company pursues an ambitious target of 500 stores by 2030.

The retailer currently operates 35 supermarkets and reported a revenue base of around Rs. 32.9 crore. While the company has not disclosed profitability figures, investors have highlighted its focus on affordability, operating discipline and capital-efficient growth as key reasons for backing the business.

Kampani, who brings more than three decades of experience in organised retail and previously held senior leadership roles with major retail businesses, believes India’s next phase of organised grocery growth will not come from India’s largest metros but from hundreds of underserved cities and neighbourhoods. Sumosave has therefore deliberately positioned itself away from premium retail, instead targeting consumers who spend a significant portion of their monthly household budgets on food and grocery purchases and actively seek everyday value.

What differentiates Sumosave from conventional supermarket chains is the simplicity of its retail model. Rather than relying on aggressive promotional campaigns, complex loyalty programmes or cashback offers, the retailer displays straightforward selling prices and communicates in regional languages. The company also stocks a mix of national and carefully selected local brands, reflecting regional consumption patterns instead of adopting a uniform assortment across markets. Its stores, typically spanning around 2,000 sq. ft. and 5,000 sq. ft., are designed to function as full-fledged neighbourhood supermarkets located within dense residential catchments.

Kampani has also argued that consumer behaviour in these markets differs significantly from that of metro shoppers. According to him, nearly half of Sumosave’s daily sales occur during the evening shopping window between 7 p.m. and 10 p.m., while cash continues to account for around 60% of transactions despite the rapid growth of digital payments. These insights have shaped the company’s operating model around local shopping habits rather than replicating metro retail formats.

The investment also reflects growing confidence that India’s value grocery segment can coexist with both national supermarket chains and quick-commerce platforms. While large retailers such as DMart, Reliance Smart Bazaar, Spencer’s and More Retail continue expanding across the country, Sumosave is attempting to win customers through neighbourhood proximity, transparent pricing, local merchandising and a sharper focus on value-conscious households—an area that remains relatively underpenetrated in many parts of East and North India. Rather than competing head-on with hypermarkets or instant delivery platforms, the company is building a format centred on routine monthly grocery shopping, where trust, affordability and familiarity often outweigh speed.

With organised grocery retail still accounting for only a fraction of India’s overall food and grocery market, investors appear to be betting that regional, execution-led supermarket chains can carve out meaningful positions alongside larger national players. Sumosave’s latest fund raise provides Mohit Kampani with the capital to test that thesis at scale, as the company embarks on its journey from just 35 supermarkets today to a targeted network of 500 neighbourhood stores by the end of the decade.

The post Mohit Kampani Bags Rs.50 Crore to Accelerate Sumosave’s 500-Supermarket Vision appeared first on Business of Food.

Vijetha Supermarkets’ meteoric rise from a modest 1,000 sq.ft. store to a network of 109 outlets is a testament to Rao’s unwavering commitment to quality and customer service. As Vijetha Supermarkets embarks on its journey of expansion and diversification, the future is ripe with possibilities, promising even greater heights of success and achievement.

Jagan Mohan Rao, a man of simple beginnings, hailed from the agricultural heartlands, and was born in a village called Nimmagaddavari Palem near Guntur district, Andhra Pradesh. When the time came to make his mark in life, fate led Rao to the doors of Trinetra Supermarket, where he commenced his humble journey on the shop floor, a novice navigating the intricacies of retail operations.

During the formative years of his fledgling career, spanning from 1993 to 1998, Rao honed his skills and garnered invaluable experience, gradually ascending the ranks to assume the role of a store manager. His entrepreneurial journey began not in the glossy aisles of corporate boardrooms, but within the walls Trinetra Supermarket, where he earned a modest sum of Rs.750.

Yet within these humble beginnings lay the seeds of ambition. “I started my professional career at Trinetra Supermarket in Hyderabad, the first-of-a-kind supermarket of an organized retail chain, where I served as a store manager. But I often thought about establishing a business house of my own. After a lot of planning and careful consideration, I decided to launch a supermarket. My dream materialized on 7th March 1999, when I opened the first Vijetha Supermarkets’ store at Chandanagar, Hyderabad,” recounts Rao.

Amidst the dynamic urban mosaic of Hyderabad’s cityscape, a new star of grocery retail burst onto the scene on a brisk March day in 1999: Vijetha Supermarkets. Conceived by Jagan Mohan Rao, this newcomer to the grocery retail stage has adroitly matured into an exemplar of retail excellence, etching its mark across the urban landscape of Hyderabad and the expanse of Andhra Pradesh.

With a keen eye for opportunity and a commitment to customer service, Rao embarked on a journey that would redefine grocery shopping for generations to come. Echoing with the promise of new beginnings, the first Vijetha Supermarkets’ store, about a 1,000 sq.ft., opened its doors to the public. From its modest origins in Chandanagar, Hyderabad, Vijetha Supermarkets has grown steadily, fueled by a dedication to quality and a customer-centric ethos.

Rao’s journey serves as a poignant reminder of the transformative potential inherent within every individual, regardless of their humble beginnings. From the rustic fields of his village to the dynamic landscape of urban retail, Rao’s story epitomizes the indomitable spirit of human endeavor and the boundless possibilities that await those who dare to dream and strive for a better tomorrow.

From Basics to Brilliance: Evolution of a Retail Titan

With time, Vijetha has evolved, expanding its offerings from basics like staples and groceries to encompass a diverse and eclectic array of products – from fresh produce to fresh meat, seafood, bakery, and exclusive cosmetic brands. The store stocks all major supermarket categories like fruits & vegetables, food & beverages, groceries, dairy, confectionery, FMCG,  gifts & novelties, cosmetics, general merchandise, apparel, small & kitchen appliances, imported products. Within the aisles of Vijetha stores, a cornucopia of essential and indulgent offerings awaits discerning shoppers. Each category is meticulously curated to cater to a myriad of tastes, preferences, and desires, encapsulating the essence of modern convenience and luxury.

Venture further into the heart of the store, where a kaleidoscope of flavors awaits in the form of food and beverages from every corner of the globe, each item carefully selected to ignite the taste buds and culinary inspiration.

The grocery aisles showcase the retailer’s commitment to providing everyday essentials with unparalleled quality and variety, ensuring that no household need goes unmet. Meanwhile, the dairy section offers a treasure trove of creamy delights, from artisanal cheeses to wholesome milk and yogurts, sourced from trusted producers.

Indulgence knows no bounds in the confectionery section, where an array of sweet temptations awaits, and promising moments of pure bliss with every bite. Meanwhile, the FMCG (Fast-Moving Consumer Goods) shelves brim with household staples and personal care essentials, seamlessly blending practicality with luxury.

For those seeking the perfect gift or a delightful novelty to brighten someone’s day, the gifts and novelties section offers an enchanting array of options to suit every occasion and recipient. And for those in pursuit of beauty and self-care, the cosmetics department stands ready to pamper and rejuvenate, with an extensive selection of skincare, makeup, and fragrances to enhance one’s natural radiance.

Similarly, the general merchandise section boasts an eclectic array of goods, from household essentials to gadgets and gizmos that promise to simplify and enhance daily life. And for the fashion-forward, the apparel department showcases the latest trends and timeless classics, ensuring that style knows no bounds.

For the culinary enthusiasts and home chefs, Vijetha’s selection of small and kitchen appliances promises to elevate cooking endeavors to new heights, with state-of-the-art gadgets designed to streamline and enhance culinary creativity. And for those seeking a taste of the exotic, its imported products section offers a passport to global flavors and cultures, allowing shoppers to embark on a culinary odyssey without ever leaving the comfort of home.

In essence, each Vijetha’s store is more than just a supermarket; it is a veritable emporium of possibilities, where every aisle holds the promise of discovery and delight. With a commitment to quality, variety, and innovation, the retailer strives to exceed expectations and enrich the lives of its valued customers with each and every visit.

As the years have rolled by, Vijetha’s footprint has expanded, reaching cities and communities across Telangana and Andhra Pradesh. Today, Vijetha Supermarkets stands as a highly successful retail entity, widely recognized for its substantial presence in the market. Operating across several key cities including Hyderabad, Vijayawada, Guntur, Rajahmundry, Kakinada, and Vishakhapatnam, spanning the states of Telangana and Andhra Pradesh in southern India, the brand has firmly established itself as a frontrunner in the regional retail landscape.

Since its inception with a solitary outlet in 1999, Vijetha Supermarkets has expanded into a robust network comprising 109 grocery supermarkets. The retailer caters to a vast clientele base exceeding five lakh dedicated patrons each month, who make in-store visits and online app orders.

Out of Vijetha’s 109 stores, 24 are in gated communities and 85 stores are non-gated. Vijetha Supermarkets has strategically situated its network of 109 stores, with 24 outlets strategically positioned within gated communities, catering to the discerning needs of residents within exclusive residential complexes. Additionally, the company operates 85 stores located outside gated communities, ensuring accessibility and convenience for a broader demographic of customers across various urban and suburban locales.

Initially, the company concentrated its efforts on establishing stores within the range of 2000 to 5000 square feet. However, in recent times, it has transitioned towards opening larger format outlets spanning between 7,000 to 20,000 square feet. Notably, last year, the company introduced a Superstore covering an expansive area of 30,000 square feet in Kondapur, a suburban area of Hyderabad.

In the fiscal year 2022-23, Vijetha Supermarkets reported revenues of Rs. 725 crore, with average daily sales per square foot reaching Rs. 1560. The company experienced a remarkable growth rate of 14.2% in 2023 as compared to the preceding year. Furthermore, the same store sales for February 2024 demonstrated a significant increase, recording a growth of 18.8%. Vijetha’s own store brands in grocery and snacks contribute about 20% of overall sales in groceries and namkeens.

Ethos of Simplicity and Excellence

At the heart of this success story lies a simple philosophy: a dedication to simplicity and a commitment to excellence. For Jagan Mohan Rao and his team, the key to success lay not in grandiose schemes, but in the relentless pursuit of quality and customer satisfaction. Reflecting on his brand’s commitment to simplicity and quality that drives every aspect of its operations, Rao says: “Simplicity is at the core of our business philosophy and it is this ethos that drives the culture and the way of working at Vijetha Supermarkets. We literally keep everything at Vijetha simple and systematic. For us, one thing remains unchanged: a commitment to simplicity, quality, and above all, the cherished relationships built with customers and communities alike.”  

He also attributes Vijetha’s success to the help and support of the employees who are all imparted proper training to this effect. “But for their sincerity, hard work and integrity, our company would not have risen to this level, and that’s why we at Vijetha dedicate the major chunk of its success to our employees.”

This month, as Vijetha Supermarkets celebrates its silver jubilee, it stands as a testament to Rao’s power of vision and dedication. “As we celebrate a remarkable milestone, the team at Vijetha Supermarkets expresses it heartfelt thanks to my father Jagan Mohan Rao, whose visionary approach and dedication to holistic customer service have been the driving force behind our success,” says Sandeep Murakonda, the 27-year-old elder son of Rao, who officiates as Executive Director, and leads Operations and Strategy at Vijetha Supermarkets.

The recent launch of Vijetha’s 109th store at Srila Park, Hyderabad, is a testament to the retailer’s continuous effort to bring quality products, a diverse range of choices and exceptional service closer to its cherished customers. “We believe in not just meeting but exceeding customer expectations and this new store is yet another step in that direction. Our success is not just measured in numbers, it’s about the relationships we build, the communities we become a part of, and the smiles we bring to our customers faces. Each store is a reflection of our commitment to creating delightful shopping experiences,” says Siddharth Murakonda, the younger son of Rao, who joined Vijetha Supermarkets last year, assuming the position of Marketing Director, after graduating out of SP Jain School of Global Management.

In targeting the urban and semi-urban areas within Hyderabad and Andhra Pradesh with its eclectic product mixes, Vijetha Supermarkets not only serves as a marketplace but also as a bridge between communities, bringing people together in pursuit of their shared goals and aspirations. Vijetha’s stores have evolved into vital community hubs, far more than mere shopping destinations. They seamlessly interweave with the essence of the neighborhoods, infusing vibrancy and vitality into the lives of every visitor who step through their doors.

The Vijetha Supermarkets’ Experience

As a visionary entrepreneur with a passion for transforming mundane shopping into an extraordinary experience, Jagan Mohan Rao’s belief remains simple yet profound – every customer deserves nothing less than the best. The moment shoppers step into Vijetha Supermarkets, they are greeted by the tantalizing aroma of freshly baked bread, the vibrant colors of ripe fruits and vegetables, and the cheerful smiles of the staff ready to assist.

The tagline “Fresh Healthy Living” adorns the walls, reminding patrons of the retailer’s commitment to quality and freshness and offering the finest products of superior quality. The stores offer everything for daily home needs with products carefully selected to ensure only the best for their customers.

But beyond elevating shopping from being a daily chore to a world class shopping experience, the retailer also offers real value for money. While shoppers are pleasantly surprised by the gleaming aisles and neatly stacked shelves, there is a secret that has made Vijetha Supermarkets truly exceptional. The incredible deals awaiting shoppers every week truly sets Vijetha Supermarket apart.

There are exclusive offers and discounts that border on the unimaginary. Customers are seen delightfully walking away after buying premium products at unbelievable prices, more than they ever dreamed possible. It’s not just about saving money; it’s about getting the best bargains on premium products, making every purchase a win-win situation.

“Our retail philosophy is to provide freshness, choice, value and service to our customers. We have the best deals running every week where customers are offered the best of bargains,” asserts Siddharth. For the 69,000 daily visitors to Vijetha’s stores, its aisles hold the promise of freshness, choice, value, and service, inspiring all who cross its threshold. At the core of it all is a customer-centric approach, where every decision is made with the shopper in mind. “Our stores are not just places for selling products but about providing an unforgettable shopping experience that leaves a lasting impression,” says Siddharth.

Supply Chain and Logistics Management

Supply Chain Management lies at the heart of Vijetha Supermarkets’ operational prowess, serving as the linchpin that ensures seamless coordination and efficiency across the entire retail ecosystem. Centralized distribution stands as a cornerstone of this strategy, enabling the swift and streamlined movement of goods from suppliers to stores. By consolidating distribution operations, Vijetha Supermarkets optimizes inventory management and minimizes logistical complexities, resulting in reduced delivery times and enhanced responsiveness to customer demands.

Efficient route planning further enhances the agility and effectiveness of the supply chain, ensuring that products reach their destinations swiftly and cost-effectively. Through the strategic optimization of delivery routes, Vijetha Supermarkets minimizes transportation costs and environmental impact while maximizing delivery efficiency.

In addition to streamlining distribution processes, Vijetha Supermarkets employs advanced inventory management techniques to minimize redundant stocks and optimize inventory levels. By leveraging data analytics and predictive modeling, the retailer anticipates demand fluctuations and adjusts inventory levels accordingly, thereby reducing carrying costs and minimizing the risk of stockouts or overstock situations.

Furthermore, Vijetha Supermarkets recognizes the integral connection between front-end and back-end processes in delivering a seamless customer experience. By fostering close collaboration and integration between various operational functions, including procurement, warehousing, and retail operations, the retailer ensures that products are readily available to meet customer demands while minimizing inefficiencies and redundancies in the supply chain.

Simply put, Vijetha Supermarkets’ Supply Chain Management approach goes beyond logistics; it reflects a complete dedication to being efficient, flexible, and customer-focused. Through centralized distribution, efficient route planning, inventory optimization, and seamless process integration, the retailer continues to set new benchmarks for excellence in retail logistics.

A Customer-Centric Retail Journey

Vijetha Supermarkets has strategically expanded its footprint, driven by an acute understanding of consumer needs and careful location selection. It has opened stores based on the understanding of consumer needs and knowing the exact locations where a supermarket will be most accessible to the public. Thus, each store is strategically positioned in high-density areas, ensuring optimal accessibility to meet the demands of diverse customer demographics.

Before opening new stores, the retailer also conducts thorough market research to identify potential locations with high demand and growth potential. This ensures that the new stores are strategically located to capture market share and maximize profitability. And in doing so, they are not just building supermarkets — they are building communities by meeting the needs of their customers with every step of expansion. Community engagement is an important element of Vijetha’s customer-centric approach. Beyond just retailing, Vijetha Supermarkets actively engages with the communities it serves through various initiatives, contributing to its brand image as a responsible corporate citizen.

A thorough understanding of store location and customer needs is key to a flourishing retail business and Vijetha has plenty of expertise and experience on these two fronts. “All our stores are located in areas with high density and concentrated population, on main streets, inside gated and non-gated communities, which allows the stores to cater to different customer segments and service the needs and requirements of people with varied tastes,” says Sandeep.

The retailer employs effective merchandising techniques that are employed to highlight key products and drive sales. Each store’s inventory is tailored to reflect the demographics and shopping habits of its catchment area. The retailer carefully curates its product assortment to cater to the preferences and needs of local customers. In terms of display and merchandizing strategy, the emphasis is more on popular products and customers’ need-based products.

The retailer prioritizes the visibility of products that offer value and affordability, which ensure they meet the preferences of the retailer’s wide-ranging customer base. Seasonal products are also prominently displayed. Additionally, Vijetha stores allocate more space to products and categories that are growing at a faster rate. Reallocation of space to products and their repositioning is a constant process at the store for better business propagation.  

In order to attract and engage the younger generation of shoppers, the company strategically curates its product offerings to align with the preferences of this demographic. This includes sourcing popular items, such as imported food products and ready-to-eat options that resonate with youthful tastes. Additionally, the company maintains a diverse selection of cosmetics and deodorants to cater to the beauty and personal care needs of younger consumers.

Furthermore, there is a deliberate focus on expanding the confectionery category to enhance its appeal to young shoppers. Efforts are also underway to augment the product range to include high-priority items such as energy drinks and energy bars, which are particularly favored by the youth demographic.

As an omnichannel retailer, Vijetha Supermarkets also boasts a robust online platform, Vijethagrocer.com. Here, customers can access an extensive range of food items, including fruits, vegetables, groceries, household essentials, and personal care products, all offered at competitive prices. Additionally, the convenience of free home delivery is extended to customers across Hyderabad areas, subject to a minimum order requirement. Customers can also place orders through phone and WhatsApp.

“Our online platform allows you to purchase with the option of cash on delivery or make the payment using credit/debit online banking also. So, if you are at Hyderabad and don’t want to go out for shopping at a supermarket, just login to vijethagrocer.com and place your order and get the benefits of purchasing at the best rates from us. Not only do we bring for you the healthiest and freshest fruits and vegetables, grocery and staples as well as the best organic food items at a most competitive price but also the assurance of same-day delivery,” says Siddharth.

When it comes to making personalized recommendations, the retailer leverages advanced data analytics and artificial intelligence capabilities. Through meticulous analysis of customer purchase history and preferences, Vijetha Supermarket adeptly makes tailored product suggestions. This granular approach significantly enriches the online shopping journey – aligning seamlessly with individual customer needs and preferences.

With its commitment to customer satisfaction, the retailer has succeeded in building a large and loyal customer base over the years. “We prioritize customer satisfaction by providing high-quality products, excellent customer service, and a pleasant shopping experience. Understanding and meeting the diverse needs of customers across different demographics and locations is key to maintaining loyalty and attracting new customers,” adds Siddharth.

 To elevate the standard of customer service, exclusive privilege cards are extended to valued patrons. Harnessing cutting-edge technology, Vijetha Supermarket seamlessly executes and oversees customer loyalty programs. Utilizing digital loyalty cards or mobile applications, patrons have the opportunity to accrue rewards points with each purchase, access personalized promotions, and redeem their rewards. This comprehensive system cultivates lasting customer loyalty and promotes repeat business, ensuring a mutually beneficial relationship between the supermarket and its clientele.

Indeed, the integration of technology across all aspects of Vijetha’s operations stands as a key element in elevating the customer experience. This includes implementing point-of-sale systems, inventory management software, online ordering platforms, and customer relationship management tools.

For instance, mobile payment solutions expedite checkout, while digital signage keeps customers informed and engaged. To streamline the checkout process and reduce waiting times, Vijetha Supermarkets offer mobile payment solutions such as digital wallets or mobile apps. Customers can simply scan QR codes or use contactless payment methods to complete their transactions, enhancing convenience and efficiency. Similarly, in-store digital signage displays, strategically placed throughout the store, provide information about on-going promotions, new product arrivals, and in-store events. This enhances the shopping experience by keeping customers informed and engaged during their visit.

Regarding marketing and promotional efforts, the retailer employs various traditional mediums such as paper advertisements, hoardings, and distribution of flyers to disseminate information about its promotions, special offers, and schemes to the customers. Furthermore, to stimulate sales, the retailer collaborates with brands to conduct product samplings aimed at providing customers with firsthand experiences of the featured products.

Lately, Vijetha has also introduced AI-powered robots to assist shoppers and streamline operations. “We have introduced an artificial intelligence powered robot at our stores, which is popular among children and acts like a magnet and helps to bump up sales. Introducing robots into Vijetha Supermarkets’ stores represents a forward-thinking approach to enhancing the shopping experience for customers and streamlining operations,” says Siddharth.

Robots are programmed to assist customers with various tasks, such as locating products within the store, providing information about promotions and discounts, and offering personalized recommendations based on customers’ preferences and purchase history. This enhances the overall shopping experience by making it more convenient and efficient for customers to find what they need.

Vijetha Supermarkets also leverages advanced technological tools to actively solicit customer feedback and foster engagement with its clientele. This multifaceted approach encompasses the deployment of online surveys, leveraging social media platforms, and employing sophisticated customer relationship management (CRM) systems. By attentively listening to customer feedback and swiftly addressing their needs, Vijetha Supermarkets perpetually refines and enhances the overall customer experience.

The seamless incorporation of technology throughout the entirety of the supermarket’s operations transcends mere efficiency; it embodies a profound commitment to adaptability and foresight. It reflects an unwavering dedication to cultivating lasting relationships with every shopper, underscoring the establishment’s steadfast pursuit of excellence.

While technology undoubtedly plays a pivotal role in shaping the modern retail landscape, the true measure of a supermarket’s success lies in the caliber of its workforce. Amidst the ceaseless march of innovation and digitalization, it is the competence, dedication, and expertise of employees that ultimately determine the efficacy and resonance of the customer experience.

Take a moment to think about how technology and human interaction work together in retail. While state-of-the-art systems may streamline operations and enhance efficiency, it is the adept guidance and personalized service rendered by knowledgeable staff members that elevate a mundane shopping excursion into an unforgettable journey of discovery and satisfaction.

Furthermore, in an era where consumer preferences are as diverse and dynamic as ever, the role of the employee transcends mere transactional interactions; it becomes an indispensable conduit for empathy, understanding, and genuine connection. Whether it’s the seasoned cashier who greets each customer with a warm smile, the product specialist who offers insightful recommendations tailored to individual preferences, or the diligent manager who resolves queries with grace and efficiency, it is the human element that infuses a sense of authenticity and trust into every interaction.

Vijetha’s store operations are overseen by a highly experienced management and supported by a talented and dedicated base of over 3,500 employees who come with a rich knowledge of various product categories and with vast experience in different fields. “We are proud to say that Vijetha Supermarkets is a well-structured organization with the right people in right place. We impart continuous employee training to ensure a knowledgeable and motivated staff capable of delivering excellent service, adapt to market strategies, and navigate evolving consumer preferences and market trends. Continuous training programs keep employees updated on product knowledge, sales techniques, and customer interaction skills,” avers Sandeep.

He adds: “Today, each category is getting more refined and is further expanding into sub-categories. The store and the staff need to be updated from time to time. And a constant check on them is required to give the best of experience and ease to our customers. We give in-house and external training to the staff, supervisors, branch managers, and in-charge personnel and offer them the resources to carry out their responsibilities with updated skills and technology assistance.”

Ultimately, while technology may serve as a formidable ally in the pursuit of retail excellence, it is the unwavering dedication and expertise of employees that serve as the bedrock upon which the success of a supermarket is built. In this symbiotic relationship between human ingenuity and technological innovation, lies the true essence of a truly exceptional shopping experience.

Targets for the Future

Having established a formidable presence in the grocery retailing business, Vijetha Supermarkets has now embarked on an exciting journey of diversification and expansion, venturing into an array of complementary sectors to further solidify its position as a leader in the retail landscape.

The success of Vijetha Supermarkets has paved the way for ambitious forays into new territories, including the hospitality sector, where the company endeavors to redefine the standards of excellence in hotel accommodations and hospitality services. Furthermore, the establishment of cold chains ensures the seamless preservation and transportation of perishable goods, underscoring Vijetha’s commitment to quality and freshness.

Not content with resting on its laurels, Vijetha Supermarkets is now making its presence felt in bakery and confectionery, promising delectable treats and culinary delights to tantalize the taste buds of patrons far and wide. Going ahead, the retailer has plans for the expansion of its retail footprint, with the launch of new super stores and hypermarkets poised to revolutionize the shopping experience.

“Vijetha Supermarkets is now expanding into other sectors such as hotels, cold chains, hospitality services, and bakery/confectionery. We plan to open more number of outlets with a bigger size. Going forward, we will open new super stores and hypermarkets. From 1 store in 1999 to 109 stores in 2024, we have plans to reach 150 stores by 2025. We are targeting a turnover of Rs. 850 crore in FY 23-24, up from Rs. 725 crore reached in the previous fiscal,” says Jagan Mogan Rao.

With a steadfast commitment to innovation, quality, and customer satisfaction, Vijetha Supermarkets stands poised to chart new heights of achievement in the ever-evolving landscape of retail excellence. With revenues soaring and growth on the horizon, the journey of Vijetha Supermarkets is far from over.  

The post Vijetha Supermarkets: From Humble Beginnings to Retail Royalty appeared first on Business of Food.

The disagreement stems from a recent government clarification categorizing snacks as either extruded or non-extruded. Extrusion is a food processing technique involving the pushing of ingredients through a machine to achieve a desired shape, commonly used in the production of many ready-to-eat snacks. Examples of extruded snacks include finger snacks like PepsiCo’s Kurkure, Prataap Snacks’ Yellow Diamond puffs and rings, and ITC’s Bingo Mad Angles. On the other hand, biscuits and potato chips are classified as non-extruded snacks. Industry experts estimate that extruded snacks contribute 25-30% to the total salty snacks market worth Rs 47,000 crore, with the remaining share coming from non-extruded snacks.

While food companies have been paying a 12% GST on snacks overall, the GST Intelligence body is now insisting on an 18% GST for extruded snacks and maintaining the 12% rate for non-extruded snacks, according to reports.

Sources within the food industry have revealed that the aforementioned companies, along with a few others, have received notices totaling approximately Rs 1,000 crore in terms of additional GST to be paid by them. However, there has been no official confirmation of this report as of yet.

The post Food Firms Clash with GST Authority Over 18% GST on Snack Categories appeared first on Business of Food.

The origins of Best Basket supermarket goes back to its humble beginnings rooted in a traditional family enterprise plying its trade in the northwest region of Maharashtra. With a keen awareness of the evolving retail landscape, this formerly modest family enterprise underwent a significant transformation, gradually establishing itself as a leader in modern retailing.

This evolution has been facilitated by a strategic approach to innovation and to prioritizing the needs and preferences of the customer. Founded by Nitin Bhusare, Best Basket began its journey as a proprietorship firm under the name DN Mart. The brand’s transition to modern retail commenced with the opening of its first store in Yeola in 2022. Yeola is a town located in the Nashik district of Maharashtra. The success of their first supermarket prompted the retailer to introduce another flagship branch in the city of Nashik in 2023.

This expansion demonstrated the brand’s dedication to serving various communities and underscored its commitment to offering high-quality products and services to an expanding customer demographic. Recently, Best Basket inaugurated its third and newest branch in Kopargaon, situated in the Ahmednagar district of Maharashtra. As of today, the retailer’s operations span an average retail area of 11500 sq.ft., that fetch an annual turnover of Rs. 35 crore.

Best Basket operates on the guiding principle of “Sabkuch Best in your Basket”. In line with its brand ethos, the retailer promises to provide customers with an exceptional shopping experience through a wide range of high-quality products, competitive prices, excellent service, hygiene standards, and more. “Every visit to Best Basket guarantees excellence, ensuring customers have a comprehensive and satisfying shopping experience,” says Nitin Bhusare, Founder, Best Basket.

With the aim of providing a comprehensive and satisfying experience for its valued customers, Best Basket is commited to setting the standards of excellence in every aspect of the shopping journey, from fresh produce to packaged goods and household essentials. The brand selects and curates its offerings to meet the highest quality standards and places a strong emphasis on understanding and fulfilling the needs of its customers, actively seeking feedback to tailor its offerings and services accordingly.

Location Strategy

Best Basket strategically selects premium residential areas at both the Taluka and District levels, prioritizing locations with convenient parking facilities to enhance the shopping convenience for their customers. They focus on areas with high residential density to strategically position their stores within vibrant communities. Samarth N. Bhusare, Director of Best Basket, emphasizes, “We aim for optimal residential locations at the taluka or district level for our store setups, ensuring accessible parking and a high residential density within a 2km radius.”

Product Basket

Best Basket boasts an extensive product range exceeding 15,000 items, catering to a diverse customer base. From staple groceries and cosmetics to an assortment of food and beverages, dry fruits, Indian spices, organic foods, home care essentials, and personal care products, Best Basket ensures its shelves accommodate the varied preferences and lifestyles of its clientele. While the supermarket takes pride in offering high-quality products across these categories, a substantial portion of its revenue is derived from key segments, particularly groceries and dry fruits.

These categories mirror the demand for both essential and premium offerings within the customer base, highlighting their strategic emphasis on meeting the diverse needs and preferences of discerning shoppers. By providing a comprehensive selection of products in segments such as Grocery and Dry Fruits, Best Basket aims to cater to the varying requirements of its valued clientele.

Inclusive Shopping Environment

Best Basket is dedicated to fostering an inclusive shopping environment for its diverse clientele, which includes farmers, businessmen, middle-income groups, and more. The brand enhances the shopping experience by organizing various activities aligned with special occasions and festivals, such as lucky draws and food festivals, and offering gifts during festive seasons. According to Samarth, the supermarket aims to make every customer feel valued and appreciated.

To engage with the Gen-Z demographic, Best Basket implements strategies tailored to their preferences, including attractive schemes and discounts on cosmetics and food products. Leveraging social media as a primary marketing tool, the supermarket also provides free home delivery, exceptional hospitality, and quality products to cater to the needs of the new generation. ‘‘We offer schemes and discounts on cosmetics and food products. We bring social media as our prime tool in our marketing campaigns. Free home delivery, fine hospitality, and quality products are all what the new generation needs and thus they are the serving pillars of our supermarket,’’ says Samarth.

Additionally, to accommodate their busy lifestyles, the supermarket offers niche category products and ensures a seamless shopping experience with complimentary home delivery services. Recognizing the demand for convenience among today’s youth, Best Basket has expanded its product categories to include Ready-to-Eat and Ready-to-Cook items, as well as exotic dry fruits and chocolates. By prioritizing superior hospitality and curating a selection of high quality products, the supermarket aims to elevate the shopping journey for its younger patrons, aligning with their discerning tastes and preferences.

Fostering Customer Loyalty

Apart from providing a vast basket of products to its customers, the supermarkets has implemented a comprehensive rewards program for its valued customers. ‘‘We run Point Scheme, Discount Voucher Book, and Reference Discount schemes for our customers,” says Samarth.

Under its Point Scheme, customers accumulate points with each purchase, which can later be redeemed for exciting rewards, fostering a sense of loyalty and appreciation. The Discount Voucher Book provides customers with exclusive vouchers, unlocking discounts on a range of products and enhancing their overall shopping value. Additionally, the Reference Discount initiative encourages customers to refer friends and family, rewarding both existing and new customers with special discounts

These initiatives are designed not only to express gratitude to the loyal customer base but also to create a dynamic and engaging shopping experience that goes beyond the transaction, fostering lasting connections with the brand.

Introducing New Brands and Products

In addition to serving its clientele, the retailer is dedicated to promoting emerging brands. Across its three stores, the retailer consistently endeavors to introduce new brands and products. This process is dynamic, with the retailer actively pursuing opportunities to enrich the shopping experience through innovation and the continual expansion of its offerings with these new brands.

Best Basket’s commitment lies in ensuring that every addition to their shelves not only meets customer demand but also brings tangible benefits to their overall shopping journey. ‘‘We encourage brands to boost their sales and enhance mutual success by distributing samples to customers and deploying promoters for their products. Active participation in the brand’s events is the cherry on top, creating additional opportunities for increased brand visibility and engagement,’’ says senior Bhusare.

He further adds, ‘‘There are many instances where we have partnered with brands like Gits, Suhana, Prabhat ghee, Tirumalla, among others for schemes and activities in food festivals. We have also partnered with newspapers like Lokmat where we offered lucky draw coupons,’’ thus promoting products and emerging brands.

Customer-Centric Strategy

The foundation of the retail business’s success lies in its operational framework. In line with this principle, Best Basket has implemented a margin structure model customized to the diverse product categories offered to customers. In high-demand categories such as Grocery and Oils, the margin structure is intentionally kept at a minimal and reasonable level to ensure competitive pricing and affordability.

Furthermore, Big Basket stores have introduced a Quantity Purchase Scheme (QPS) aimed at delivering added value to customers. This scheme incentivizes bulk purchases by offering special discounts and incentives to customers making larger quantity purchases.

According to Samarth, Director of Best Basket, “Our strategic approach not only prioritizes customer affordability but also rewards those who opt for bulk purchases, fostering a mutually beneficial relationship with our valued patrons.”

Using Technology to Enhance Operational Efficiency

Technology serves as the cornerstone of  every successful retail enterprise. Through the strategic utilization of advanced technology and sophisticated software, Best Basket has markedly improved the efficiency of its inventory management and sales operations. The seamless integration of modern technology has enabled instant access to every store within the network, streamlining operations across the board.

The implementation of technology has enabled Big Basket stores to generate detailed reports for any location, facilitating centralized control and decision-making from a single point. Beyond inventory and sales management, technology has significantly improved the overall sales services, streamlining processes and providing real-time insights. This commitment to technological advancement ensures that the supermarket not only meets but surpasses customer expectations while maintaining operational excellence across all aspects of its business.

Packaging Strategy

Through careful observation across its store locations, the retailer has identified a notable trend in the grocery category. Customers exhibit a clear preference for private-labeled packaged groceries over loose items, which have become particularly evident in the post COVID-19 period. Recognizing the significance of packaging, the brand has recently adopted a strategic shift in its packaging strategy.

‘‘We recently changed our packaging and ventured into new categories like exotic chocolates and imported dry fruits at our stores. After COVID, customers have become more health and hygiene conscious and are looking for packaged food items,’’ says Samarth. The brand has refined its packaging strategies to address the distinct needs of each store. This tailored approach guarantees that their grocery selections align with customer preferences, thereby improving the overall shopping experience.

Roadmap for the Future

With a forward-thinking approach, Best Basket is poised for expansion in the years ahead by building upon its successful store-chain model. “We aim to open 15 new stores by 2030,” confirms Samarth. Additionally, the brand is exploring the franchise model to expand its presence even further.

To enhance operational efficiency and strengthen their infrastructure, Big Basket is strategizing to establish a centralized warehouse. This facility will function as the logistical hub for all their stores, with the primary objective of optimizing supply chain management. This initiative aims to ensure streamlined operations, efficiency, and consistency in product availability throughout their growing network.

In alignment with its commitment to innovation, the brand is also exploring opportunities for the establishment of a dedicated company for Packaged Groceries. These initiatives reflect the brand’s dedication to offering specialized and curated grocery options, adding a new dimension to its product portfolio, and strengthening its position as a strong retailer in the retail industry.

The post Best Basket’s Strategies for Success in Modern Retail appeared first on Business of Food.

For centuries, Kerala’s banana chips have been synonymous with coconut oil. Aligning with this tradition, Beyond Snack endeavored to create a product that delivers consistent taste and texture and embraces healthier cooking methods. After an intensive 8-month product development phase, Beyond Snack is now ready to meet the high expectations of health-conscious consumers.

Building on the momentum of the ’24 Carat Taste’ campaign, Beyond Snack’s introduction of Kerala Banana Chips in Coconut Oil represents a thoughtful blend of tradition and modern health consciousness. Emphasizing coconut oil’s traditional significance in Kerala’s culinary landscape, this launch reinforces the brand’s dedication to celebrating cultural heritage while addressing the nutritional preferences of today’s consumers. This launch is a reflection of Beyond Snack’s ongoing efforts to blend cultural authenticity with modern health standards, providing consumers with an indulgent yet guilt-free snacking experience.

What sets this product apart in the market? It is made without onion and garlic, catering to consumers who seek fasting-friendly options. Significant to this product is our transition to using rock salt, an alternative to the commonly used refined salt. The standout feature of this new product lies in its cleanliness – we’ve meticulously curated these banana chips with hygiene as a top priority. What sets them apart is that they’re the first-ever branded banana chips made with coconut oil. This enhances the chips’ health benefits and adds a delicious twist to the classic snack.

Manas Madhu, Co-Founder of Beyond Snack, said, “With Kerala Banana Chips in coconut oil, we’ve embraced the historical connection of coconut oil and banana chips and elevated the snack to meet modern health expectations. Our rigorous development process and thoughtful ingredient selection are a nod to our responsibility towards our consumers who trust us for quality and experience.”

Beyond Snack’s commitment to quality and nutrition remains unchanged. Like all our products, these coconut oil-based banana chips are gluten-free, non-GMO, and made with real, premium ingredients. As always, they are free from artificial preservatives, colours, and flavours, ensuring that every bite is a wholesome, guilt-free indulgence.

Kerala banana chips made with Coconut oil will be available in 85gm packets at a price of Rs 75 per pack. Consumers can purchase these healthy and delicious chips across all leading e-commerce platforms such as Amazon, Flipkart, Big Basket, Blinkit, and Instamart, as well as in their nearest retail outlets pan-India and on our website www.beyondsnack.in.

For more information about Beyond Snack and its newly launched products, please visit www.beyondsnack.in. Stay connected with Beyond Snack on social media for the latest updates, promotions, and irresistible snack inspiration.

The post Beyond Snack Unveils Coconut Oil Banana Chips With Consistent Taste & Quality appeared first on Business of Food.

From empowering local farmers to pioneering Eri-Silk cultivation, the brand’s visionary approach not only fosters a mutually beneficial ecosystem but also positions them at the forefront of positive change in the region.

As they secure incubation support from NABARD and SDAU, Hearty Mart Farm2Market’s journey exemplifies how businesses can drive impactful transformations for both themselves and the communities they serve.

Hearty Mart has garnered considerable acclaim for its distinctive business approach, notably for introducing contemporary retail and sophisticated bakery experience to tier-2 and tier-3 locations in Gujarat. Undoubtedly, the brand has become synonymous with venturing into untapped markets and strategically investing in areas typically considered less favourable for business development. Another key illustration of this strategy is the lesser talked about Hearty Mart Farm2Market, emblematic of the brand’s commitment to fostering entrepreneurial fervour in urban spaces.

The concept of Farm2Market took root in 2017 when a group of fruit farmers approached the leadership of Hearty Mart with a proposal to utilize surplus fruit produce. What began as a localized initiative soon evolved into a broader outreach to the agricultural community, extending beyond fruit juices to encompass various agricultural products. Hearty Mart, already a prominent player in the HoReCa (Hotels, Restaurants, and Catering) sector in Gujarat, recognized the potential of robust backward integration.

As discussions progressed within the leadership, they became increasingly attuned to the concerning trend of local farmers selling their lands and migrating to urban areas due to an unstable income. This realization fuelled the vision of incorporating farmers into the Hearty Mart family, laying the foundation for Hearty Mart Farm2Market.

Reflecting on this venture, Nadeem Jafri, Founder and Chief Mentor, Hearty Mart, explained, “with Farm2Market, we aimed to establish a robust backward integration channel for our companies. Through Farm2Market, we seek to directly source grains from farmers and distribute them to retail customers through our supermarkets, as well as to Hotels and Restaurants via our HoReCa division.”

He further emphasized, “Our goal is to create a sustainable source of income for small farmers in Gujarat, providing market linkages, connecting them with resources and experts to exponentially increase their income. In doing so, we aim to foster a mutually beneficial scenario for all stakeholders involved.”

In Bakar Ali and Maherban, Hearty Mart discovered two enterprising farmers who were actively seeking avenues to enhance the income streams of farmers in their region. As fellow farmers, they possessed an intimate understanding of the challenges associated with securing fair prices in the market.

Subsequently, the Hearty Mart Farm2Market warehouse was established in Jadar, Idar, located in the Sabar Kantha district of Gujarat—a region renowned for the cultivation of Castor, Cotton, Soybean, and Wheat. They forged a strategic partnership with Ihsedu Agrochem Pvt. Ltd., wherein the latter committed to supplying castor seeds to Farm2Market-affiliated farmers at a price below market rates, while also purchasing the produce from these farmers at a premium compared to market prices. This innovative arrangement propelled Farm2Market to gain substantial traction within the region.

Presently, Farm2Market operates in 43 villages across Gujarat, collaborating with over 2000 farmers and 2 Farmer Producer Organizations (FPOs) and has 2 selling points beyond the warehouse in Jadar, Idar. This expansive reach underscores the successful integration of Hearty Mart’s vision with the entrepreneurial spirit of local farmers, fostering a mutually beneficial ecosystem that addresses the challenges faced by farmers in the pursuit of fair and sustainable livelihoods. Yet, their visionary aspirations extend beyond conventional trading.

Bakar Ali articulates their broader goal, stating, “We don’t want to merely engage in trading; we aim to catalyse a transformative shift in the agricultural landscape of our region. To realize this, we’ve been diligently piloting Eri-Silk production for the past two years, and the outcomes are indeed promising.” Farm2Market introduced a distinctive initiative by cultivating Eri-Silk in Sabarkantha, Gujarat, leveraging Castor leaves as a key element in the silk cocoon development process.

This innovative solution delivers a host of socially impactful outcomes. Primarily, it pledges to diversify the agricultural panorama by introducing Eri Silkworm-based silk production to a region currently limited to the cultivation of a few crops. The successful adoption of Eri-Silk cultivation not only broadens the spectrum of crops in the area but also generates fresh employment opportunities, especially for older individuals and women. Eri-Silk cultivation proves less labor-intensive than traditional crops like castor, offering a more accessible avenue for employment. Moreover, utilizing castor leaves as silkworm feed maximizes resource utilization, given the abundance of castor leaves in the region.

This innovative approach has not only garnered attention within the agricultural realm but is also making waves in business circles. Farm2Market’s pioneering efforts have been recognized through their recent incubation at the NABARD-assisted SDAU (Sardarkrushinagar Dantiwada Agricultural University) incubation center. This strategic partnership not only validates their innovative vision but also positions them to scale this initiative to the next stage. The incubation support holds the promise of catalyzing a substantial shift within the agricultural landscape of Gujarat. As they embark on the next phase of growth with the support of NABARD and SDAU, Hearty Mart Farm2Market’s journey serves as an inspiring narrative of how visionary businesses can drive positive change, fostering a resilient and prosperous future for both the business and the communities they engage with.

The post Hearty Mart Farm2Market: Sowing Change in Gujarat’s Agricultural Landscape appeared first on Business of Food.

Following the substantial allocations to the health, education, and infrastructure sectors in the previous budget, there is a growing expectation from the retailer’s community to be the focal point. Despite the National Retail Policy still being in the drafting stage, retailers are hopeful for positive measures in the upcoming budget, such as higher sales targets, increased consumer footfalls, and improved profit margins facilitated by lower taxes and business-friendly initiatives.

In anticipation of the forthcoming budget, numerous retailers have articulated their expectations and ideas, aiming to foster a more vibrant and prosperous retail landscape in India.

What are the expectations of the retailers for the upcoming budget? 

Speaking to IMAGES Group, Aastha Almast, the Co-Founder of The New Shop highlighted some of the expectations that she seeks from the new budget that is coming in Feb. She points out that the retail sector in India is eagerly looking forward to more liberalized Foreign Direct Investment (FDI) norms, especially for Multi-Brand Outlets (MBOs) and retail franchises. There is a collective desire for enhanced accessibility to MSME loans under the Startup India/StandUp India Scheme, as retail store franchises play a pivotal role in fostering entrepreneurship, particularly in Tier 2 and Tier 3 cities. This expansion is expected to generate a substantial number of employment opportunities.

Furthermore, retailers are optimistic about the prospect of lower interest rates for borrowing, particularly for franchises associated with established retail brands. This financial facilitation is seen as a crucial factor in supporting the growth and sustainability of retail enterprises, contributing significantly to the economic development of the country. 

Adding to it, Kunaal Kumar, Director, of Modern Bazaar further gave some bullet points about the retailer’s expectations from the budget. 

1. Reduced GST Rates: Decreasing Goods and Services Tax (GST) rates on essential commodities and imported food products aims to enhance affordability for consumers, thereby stimulating increased sales. This reduction in GST rates is intended to make these goods more accessible to the general consumers, promoting sales and ensuring that essential items remain within reach for a wider segment of the population.

2. Better Import Policies: Streamlined, easier, and cost-effective processes for imported goods are vital for retailers like Modern Bazaar specializing in imported food products. The aim is to simplify and expedite the importation of goods, making it easier for businesses. By implementing more cost-effective import procedures, financial burden can be reduced from the shoulders of both retailers and consumers, while bringing in goods from other countries. These enhanced import policies can also benefit retailers dealing in imported food items by cutting through bureaucratic complexities and ensuring a smoother, more seamless importation experience.

3. Support for Infrastructure Development: Recognizing the pivotal role that infrastructure plays in the success of retail business, financial Incentives can be included in the budget for revitalizing retail spaces and enhancing logistics to boost supply chain efficiency. These incentives can address the evolving needs of the retail landscape, ensuring that businesses stay competitive in today’s dynamic market.

4. Promoting Sustainable Practices: The budget can also add incentives and subsidies for embracing eco-friendly practices in operations. This offers both encouragement and motivation for the adoption of environmentally conscious operations. The goal is to make this transition to sustainable ops more accessible and financially feasible for retailers who are committed to reducing their environmental footprint.

By embracing these ideas, there can be a positive impact on the overall competitiveness and sustainability of retail businesses

With the promotion of industrialization in Tier 2 and Tier 3 cities as well as villages advocating Vocal for Local, what initiatives are required from the govt to make the retail landscape smoother for retailers to expand in such cities, towns, and villages? 

Addressing the challenges of establishing retail outlets in Tier 1 and Tier 2 cities, Astha says, ‘‘The allocation of prime real estate in prominent public spaces, such as transit hubs and tourist spots, needs to be earmarked for Indian retail setup. This strategic allocation aims to provide retail businesses with optimal visibility and accessibility, fostering growth and success, especially when you are emerging or expanding to a particular area.’’

Expanding businesses to Tier 2 and Tier 3 cities not only serves commercial interests but also becomes a catalyst for significant socio-economic development. One crucial aspect is the generation of employment opportunities within these cities, contributing to their overall growth and progress. By creating job opportunities, businesses play a pivotal role in enhancing the standard of living for residents and fostering a more robust local economy. Additionally, as retailers establish their presence in these cities, it directly contributes to an increase in the purchasing capacity of households. This, in turn, ensures that a wider array of products and services becomes accessible to the local population, promoting economic inclusivity and contributing to the overall prosperity of these communities.

But for such development to take place, there needs to be easy access to the financial backing. Emphasizing the role of such financial support, Aastha said ‘‘Recognizing the catalytic role of retail store franchises in driving entrepreneurship, particularly in Tier 2 and Tier 3 cities and beyond, financial support is deemed essential. By extending loans and incentives, the budget has the potential to not only fuel economic activities but also create a substantial number of employment opportunities, contributing to the overall development of these regions.’’

Kunaal further adds that to facilitate retail expansion in these areas, the government could take several initiatives: 

• Improved Infrastructure: Development of roads, electricity, and internet connectivity to make these areas more accessible and business-friendly. 

• Local Talent Utilization: The govt can introduce programs to train the local populations for the retail sector that not only increase the employment ratio in the region but also create a skilled workforce. 
• Tax Incentives: Offering tax breaks or subsidies to retailers who set up stores in Tier 2, and Tier 3 cities, and villages can further promote the retail environment in the regions. 
• Ease of Doing Business: Simplifying the process of obtaining necessary permits and licenses can help retailers set up new stores in these areas in a shorter period, fast-tracking retail development in these regions.

• Enhancing safety measures: By recognizing safety concerns and enhancing protective measures in Tier 2 and Tier 3 Cities and villages can further aid the retailers in establishing their stores at these locations. 

What are your expectations in terms of incentives, regulations, and digitization from the upcoming budget?

The upcoming budget could aid the retail sector in many ways. Talking about the cumbersome process of obtaining permissions and licenses to establish retail operation, Aastha said, ‘‘ The government should promote a single-window clearance system for licenses, especially for franchisees. This streamlined approach aims to expedite the approval process, alleviating the challenges faced by local entrepreneurs who undergo financial setbacks during the gestation periods while awaiting license approvals.’’ 

By facilitating a more efficient and centralized system for obtaining necessary permissions, the government can significantly contribute to reducing business-related delays and fostering a more conducive environment for entrepreneurship, ultimately promoting economic growth.

Moreover, Kunaal says that strategic investments and incentives are crucial for fostering E-commerce and Digital Payment Systems. This facilitates the seamless integration of cutting-edge technologies into retail operations. In today’s rapidly evolving market, digital infrastructure plays an eminent role in harnessing the full potential of e-commerce and modern payment methods. To empower this transition towards a digital future, both financial investments and enticing incentives are necessary initiatives. 

In addition to it, tax advantage for digital transformation is another expectation from the room. Incentives for retailers investing in AI, IoT, and Big Data Analytics are another requirement for the retailers. Recognizing the pivotal role of these technologies in reshaping the retail landscape, these incentives can foster an environment where retailers of all sizes can embark on a journey of digital transformation. By tapping into these tax benefits, retailers can strategically leverage technology to stay ahead in an increasingly digital marketplace.

Financial Support for SMEs is another key factor to stimulate growth and expansion in the retail sector. Specialized funding options and lower-interest loans are designed to encourage the sustainable growth and expansion of SMEs within the retail sector. By offering funding avenues with reduced interest rates, the budget empowers small and medium-sized retailers to invest in their businesses, seize growth opportunities, and navigate the path to expansion.

The budget stands as an expansive opportunity for retailers to propel their businesses forward. It serves as a substantial financial landscape, offering the means for strategic investments, growth initiatives, and transformative endeavors.

Within this vast expanse of the budget, retailers have the potential to allocate resources judiciously, fostering innovation and competitiveness. It provides a canvas upon which businesses can paint their vision, whether it be the implementation of cutting-edge technologies, expansion into new markets, or the enhancement of customer experiences. As retailers delve into this expansive budgetary realm, they are encouraged to consider it not merely as an accounting exercise but as a strategic road map for success. It is an invitation to envision the future, allocate resources effectively, and embark on a journey of sustainable growth. In this vast expanse of possibilities, the budget becomes a catalyst for innovation, resilience, and the overall prosperity of retailers.

The post Booming Expectations of the Retail Sector from the Upcoming Budget appeared first on Business of Food.

The oil palm plantation programme has been launched in Nuapada and Bolangir districts, with 31 farmers already on board. By 2029-30, the plan is to commence a palm oil mill in the state, with FFB processing capacity of 10 Metric Tons per Hour (TPH) initially. In fact, M11 industries Pvt Ltd’s team has initiated identifying progressive and interested farmers for oil palm plantations in Bolangir and Nuapada district in Odisha.

This will be followed by dedicated training, technical support and capacity building along with assistance in establishment of nurseries and supply of quality planting materials to farmers. Micro irrigation will be the game changer and the focus is to ensure the farmers have irrigation systems installed in their farms.

The oil palm plantations will be productive to a greater extent in Bolangir and Nuapada districts as they come into contact with the oil palm farmers from the neighbouring Bargarh district with almost similar climatic and soil conditions. The farmers in Bargah are extremely happy with oil palm plantation, thanks to the returns and profits they’re making, limited marketing, less-labour-intensive crop and threefold increase in profit than paddy.

Currently, India is the largest importer of edible oils in the world. In 2020-21, India imported about 13.35 million tonnes of edible oils worth INR 80,000 crore. Among the imported edible oils, the share of palm oil is the highest (60%), followed by soybean oil (25%), and sunflower (15%). Domestic edible oil production has not been able to keep pace with the growth in yearly consumption, which has exceeded 25 million tonnes.

Elaborating on MK Agrotech Pvt Ltd’s strategic decision to foray into oil palm plantations in Odisha, Mannan Khan, Director, MK Agrotech Pvt Ltd said, “Oil palm-originated from West Africa is comparatively a new crop in India and around nine million tonnes or more of palm oil is imported every year. Interestingly, Oil Palm has the capability to produce highest oil yield per hectare per year. In comparative terms, its yield is more than three times than the average oil yield per hectare per year that we get from domestic traditional oilseeds. Over the decades, the Government of India has been making continual efforts to expand the area under cultivation of oil palm across various states in India in order to maximize the domestic production of edible oils and to bring down the excessive reliance on imports.”

MK Agrotech’s flagship brand Sunpure has the distinction of being India’s foremost edible oil brand and the country’s first chemical-free, processed and physically refined oil, with government patented technology. Over the past 28 years, the company has made substantial efforts to reduce India’s dependence on imports to meet its edible oil requirements.

“At MK Agrotech, we share the vision of ‘Make in India’ and self-sufficiency in edible oil production. Partnering with the Government in the implementation of NMEO-OP in Odisha is a long-term commitment to work towards an inclusive Indian economy that maximises the benefits for the farmers as well as all the other stakeholders,” added Mannan.

Nasim Ali, Adviser to MK Agrotech (Former CEO- Oil Palm Plantation Division, Godrej Agrovet Ltd.) said, “The plan is to adopt a cluster approach and develop a few model farming plots with the farmers in Bolangir district and Nuapada district. There are primarily two requirements for oil palm plantation – at least half a hectare of land and assured water availability throughout the year for irrigating the crop. It’s less labour-intensive crop and can easily provide an assured net annual income of INR 1.5 lakh per hectare per year or more to farmers, once plantation is matured. The need of the hour is greater awareness and we are working on campaigns, especially at the village level, with the support of various government authorities at local level. At MK Agrotech, we strongly believe that a sustainable approach that empowers all stakeholders is the best strategy for success.”

Under NMEO-OP, the Government provides huge financial support in the form of various subsidies to encourage farmers to grow oil palm. Currently, Andhra Pradesh, Telangana and Kerala are the major palm oil producing States, accounting for nearly 90% of the country’s total production.

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This innovative addition to India Gate’s culinary repertoire aims to redefine the biryani-making experience, providing an authentic solution for home chefs to effortlessly conjure up the magic of regional biryanis and relish it with their loved ones. Offering consumers an immersive journey into the authentic flavors of Hyderabadi, Lucknowi, and Kolkata biryanis, the new range of Biryani Masalas have a savory gravy base and a specially crafted spice seasoning mix, which makes them ideal for dum cooking.

Ayush Gupta, Business Head (Domestic), KRBL Limited, said, “It’s a strategic approach in pursuit of expanding our Domestic Business Portfolio. Our profound understanding of basmati rice uniquely positions us to make biryani truly special for consumers. Introducing our Biryani Masala in the top three varieties isn’t just about great flavors; it’s a step aligned with our business goals, reflecting our commitment to evolving consumer preferences and fostering sustained growth in the domestic market.”

Kunal Sharma, AVP Marketing and Head of Modern Trade & E-commerce, KRBL Limited, said, “The India Gate Classic Biryani Masala is a testament to our commitment to delivering the true essence of Indian cuisine. With the introduction of three regional variants, we aim to celebrate the diverse and rich culinary heritage of our country.”

India Gate Classic Biryani Masala will shortly be available at leading modern trade stores and various online platforms.

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The company said that the processing of Maatea’s tea leaves does not entail the addition of any special ingredients or additives as the focus is on offering natural, high-quality tea at an affordable price, which sets the new brand apart from its competitors.

Maatea has positioned itself in the market with a pricing strategy that sets it apart from other brands, especially in the 650 rupees range. The brand aims to make its premium tea accessible to a wider audience by offering it at an attractive price point of 450 rupees, without compromising on quality.

Speaking about the launch, Anand Nayak, Co-Founder of Chai Sutta Bar said, “For the past 7 years, we have been continuously serving custom-made tea to customers at the Chai Sutta Bar. We observed a significant demand for the taste of homemade tea, and that insight led us to the inception of Maatea. Our goal is to provide a unique and high-quality tea experience that stands out in the market. With Maatea, we aim to elevate the tea-drinking experience by offering natural, high-quality tea without the unnecessary additives and colors found in other brands. We believe our brand’s commitment to purity and affordability will resonate with tea lovers country-wide.”

Maatea comes FDA-approved, solidifying its status as an FDA-approved chai brand. “Quality is our top priority when it comes to tea leaves. Our modern packaging unit, equipped with iron and fiber segregators, ensures the highest standards of quality. The zero-human interface in our packaging process maintains the integrity of the tea leaves, providing customers with an unmatched tea-drinking experience,” said Rahul Patidar, Director of Chai Sutta Bar.

Chai Sutta Bar is also looking to take its chain and Maatea brand to the international markets as well. “With the products we’ve developed since day one, we have the potential to export them to the international market,” said Anubhav Dubey, Co-Founder.

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