Business Today 12 November 2023

No matter how large or successful a company is, it has to constantly map the competitive landscape and reinvent and reposition itself when needed. And so it is with the Gujarat Cooperative Milk Marketing Federation (GCMMF), which runs the iconic Amul brand of milk and milk products and has been synonymous with milk for decades. Today, the ₹55,000-crore GCMMF—which gets 96 per cent of its revenues from milk and milk products—is in the midst of a pivot, going beyond its core and staking claim for a chunk of the foods pie. With its massive farmer connect and mega distribution network already in place, Amul, under MD Jayen S. Mehta, is putting in place a strategy that involves cashing in on adjacencies and grabbing the opportunity in organic food products. Not…

SOURCE INVEST INDIA HOWZAT! INDIA’S 100-MEDAL HAUL AT THE ASIAN GAMES AND THE ONGOING CRICKET WORLD CUP ARE EXPECTED TO BOOST THE COUNTRY’S SPORTS EQUIPMENT MARKET. HERE’S WHAT THE DATA SHOWS: $6.6 BILLION Expected size of the Indian sports equipment market by 2027 compared to $3.9 billion in 2020-21 82 PER CENT Of sports goods made in India is manufactured in Jalandhar and Meerut. Together, they have over 3,000 manufacturing units 60 PER CENT Of sporting equipment manufactured in India is shipped to other countries…

TOP OF THE CHARTS THE COMBINED FORTUNES OF INDIA’S TOP 10 RICHEST PERSONS IS ₹26.84 LAKH CRORE—MORE THAN 8 PER CENT OF THE BSE’S MARKET CAP TOTAL WEALTH IN ₹ CRORE; DATA AS OF AUGUST 30, 2023; COMPANY NAMES IN BRACKETS; SII IS SERUM INSTITUTE OF INDIA; DMART IS AVENUE SUPERMARTS SOURCE 360 ONE WEALTH HURUN INDIA RICH LIST 2023 133 THE NUMBER OF BILLIONAIRES FROM THE PHARMA SECTOR, FOLLOWED BY CHEMICALS AND PETROCHEMICALS (110) AND INDUSTRIAL PRODUCTS (96) 321 PER CENT THE HIGHEST GROWTH IN WEALTH IN PERCENTAGE TERMS IN ONE YEAR WAS WITNESSED BY GAURI SHANKAR AGARWALA & FAMILY OF CMR GREEN TECHNOLOGIES NOTE THIS LIST REFERS TO INDIVIDUALS RESIDING OR BORN AND RAISED IN INDIA THE RICHEST INDIAN PROFESSIONALS EIGHT OF THE TOP 10 WEALTHIEST INDIAN PROFESSIONALS…

EVEN AS THE WORLD was making peace with the Russia-Ukraine conflict, and the global economy showing signs of recovery, the Israel-Hamas war has opened up new worries. The Ukraine war has resulted in a sharp rise in crude oil and commodity prices, further slowing the growth of the world economy. The International Monetary Fund’s (IMF) World Economic Outlook Update, that released recently, says forces, including the long-term consequences of the Covid-19 pandemic, the war in Ukraine, and increasing geo-economic fragmentation are holding back the recovery. It predicts the global economy to grow at 3 per cent in 2023, which could slow to 2.9 per cent in 2024. The economic repercussions of the Israel-Hamas war are still playing out, but India is unlikely to go unscathed. “The overall global economic conditions…

AT A TIME when the world is already grappling with high interest rates and inflation, the war between Israel and Hamas is adding fuel to the fire of rising crude prices. As a result, it may put additional burden on countries like India that are susceptible to imported inflation. Market watchers believe the impact of the war on the markets is likely to be soft, but not nil. Anand Shah, Head of PMS and AIF Investments at ICICI Prudential AMC, says, “The long-term impact of the Israel-Hamas war on Indian equity markets is likely to be muted. But, it is marginally negative in the short-term, considering the country’s dependency on imported oil and gas”. Per CMIE’s Economic Outlook, petroleum products accounted for nearly 30 per cent of India’s total import…

HAVING DELIVERED DOUBLE-DIGIT returns, gold has emerged as one of the best-performing asset classes since 2018. The period has seen unprecedented upheavals in the global economy, marked by a global pandemic and a major war, resulting in high inflation and recessionary trends. These factors have fuelled the interest in gold. In rupee terms, the price of gold has nearly doubled since 2018. Adhil Shetty, CEO of banking services platform BankBazaar.com, says a rise in gold prices can be observed any time a new conflict starts. “The recent spike notwithstanding, gold has delivered moderate returns over the long term, while equity has been a much better hedge against inflation [during this period].” Typically, gold is a crisis commodity whose prices peak during geopolitical conflicts and economic uncertainties. With demand for gold…