Success in my Habit

Monday, December 16, 2019

Ministry of Coal to Establish Sustainable Development Cell for Environmental Mitigation Measures #Coal #SDC #Sukumarbalakrishnan

The Ministry of Coal has decided to establish a 'Sustainable Development Cell' in order to promote environmentally sustainable coal mining in the country and address environmental concerns during the decommissioning or closure of mines. This move gains significance as the new private entities are now going to form a significant part of the future, a set of guidelines for proper rehabilitation of mines need to be evolved in tune with global best practices.

Role of Sustainable Development Cell:

The Sustainable Development cell (SDC) will advise, mentor , plan and monitor the mitigation measures taken by the coal companies for maximising the utilisation of available resources in a sustainable way, minimising the adverse impact of mining and mitigating it for further ecosystem services and will act as nodal point at Ministry of Coal level in this matter. This cell will also formulate the future policy framework for the environmental mitigation measures including the Mine closure Fund.

Tasks of the Cell:

The SDC will adopt a systemic approach, starting from collection of data, analysis of data, presentation of information, planning based on information; by domain experts, adoption of best practices, consultations, innovative thinking, site-specific approaches, knowledge sharing and dissemination and finally end with an aim to ease the lives of people and communities in general. All of the above will be done by executing following tasks on a planned way:

1. Land amelioration and afforestation:

In India approximately 2,550 sq Km areas is under different coal mines and there are also plans to bring more areas under it. These land masses required both extensive and intensive amelioration measures and will be carried out as per following procedure:

• Collection of all the baseline data/maps related to different coal mines like total mines/ block areas, OB dumps areas, water filled voids, reclaimed areas, unutilized areas, plantations etc., from various Coal companies. All the data/maps will be collated and analysed on a GIS based platform and different thematic information and maps will be prepared. These will be updated at regular intervals. All GIS based activities will be carried out with active participation of CMPDIL.
• To help Coal companies to identify areas where plantation projects could be taken up immediately, along with identification of various species of plants, suitable for specific regions to create large carbon sinks for climate change management.
• To Identify the activities to be taken up for creation of additional land suitable for plantation, stabilization of slope, soil treatment, creation of levelled land, de-watering etc., as per timeline under MCP.
• It also checks the possibility and plan for productive reuse of these lands for rehabilitation, integrated modern township, agriculture, horticulture, FCA compensatory land, renewable energy farms etc.

2. Air quality, emission and noise management:

• To advice coal companies for effective implementation of environmental mitigation measures (water sprinkling, dust suppression methods, noise barriers etc.) related to air and noise pollution generated due mine activities, heavy earth moving machines (HEMMs), transport of coal etc.
• It also works towards energy efficiency in the mining operation, noise and emission reduction in case of HEMMs.
• Analysis of Environment Management Plans (EMP) of different companies and will advise coal companies to making it more effective.

3. Mine water management:

• Collection of data regarding present quantity, quality, surface runoff, drainage of mine water, future availability of water collected in UG or OC coal mines etc., and to analyse it on a GIS based platform to prepare model Coal Mine Water Management Plans (CMWMP).
• The plan will suggest ways and also have innovative planning to storage, treatment and re-use of such water for drinking, irrigation, fisheries, tourism, industrial or any other sustainable purpose.

4. Sustainable Overburden Management:

• The cell will also check feasibility and suggest measures to reuse, recycle and rehabilitation of overburdened dumps in a sustainable manner.
• Will examine and plan out use of overburdened material for use in different infrastructure projects, earthen bunds etc.

5. Sustainable Mine Tourism:

• To explore and conceptualise a plan for the beautification & creation of eco parks in the reclaimed areas and which will also include water bodies etc., for re-creation activities and tourism purpose. It will also explore tourism potential and plan it out in few underground mines.

6. Planning and Monitoring:

• Analysis of Mine Closure Plans (MCP) of different companies and advise to make it more effective.
• To help Coal companies to finalize time-line for execution of different mitigation activities / projects in all mines in phased manner.
• Will also monitor effective utilization of Mine Closure Fund and Environment Budgets of Different Coal Companies.
• To formulate future guidelines for the mine closure plan, mine closure fund etc.

7. Policy, Research, Education, and Dissemination:

• Will hire experts/ institutions/ organisations to conduct specific studies for establishing a robust knowledge base.
• Will organise consultative meetings, workshops, field visits, exposure study tours etc., to enrich the knowledge base, known best global and ideas for environmental mitigation planning and monitoring.
• Will conduct regular workshop and seminar for the company level officials to educate them in new methods, technologies, approaches and also global practices.

Thus, the Sustainable Development Cell envisages to address the environment mitigation measures in a systemic manner and to provide a better environment to people working and residing in the vicinity of Mines.

Need to make rural enterprises an attractive career choice for youth- Vice President

The Vice President Shri M. Venkaiah Naidu today expressed the need to make rural enterprises an attractive career choice for both urban and rural youth in India. He also called for a sensitization programme to inform the youth about the opportunities available in rural India.

Addressing the 40th Foundation Day function of the Institute of Rural Management Anand (IRMA) today, he appealed to the students and teachers of the Institute to sensitize at least 10 youngsters in schools/colleges in their network and encourage them to explore possibilities in rural India. He termed this task as PSR (Personal Social Responsibility) for them.

Calling Gujarat as the 'janmabhoomi' and 'karma bhoomi' of great leaders such as Sardar Patel and Mahatma Gandhi, the Vice President called for making their vision of Gram Swaraj into a reality.

Institutions like IRMA have a unique role to play in this, he said.

Maintaining that India is on track to become a 5 trillion-dollar economy, Shri Naidu opined that rural India's economy will play an important role in this.

Therefore, massive transformation of rural economy is required by way of promoting rural entrepreneurship, Farmer Producer Companies (FPC)and through improvements in supply chain efficiency.

To enable this, he called for providing proper training and mentoring to turn villagers and farmers into successful entrepreneurs and innovators.
Reaffirming Gandhiji's vision of decentralized village level industries, he called for a renewed focus on agriculture and value addition to agri-products.

Citing the example of foreign brands selling tomato sauce and potato chips, the Vice President called for establishing agro processing industries at village level so that farmers get the right value of their produce.

Remembering Dr. Verghese Kurienas a great institution builder, Shri Naidu called for replication of Amul success story in other fields also, so that small and marginal farmers can reap the benefits of economies of scale in marketing.

The 'White Revolution' was achieved not by 'mass production' but 'production by masses', he said.

Shri Naidu highlighted that new technologies and programs such as 'Digital India' have opened up new business avenues in rural India by way of Digital Payments, e- commerce etc and have created a favourable ecosystem for rural digital transformation.

In this context, he called upon IRMA to create at least 1,000 start-ups in the rural areas over next two years. "Because IRMA professionals are uniquely positioned to be able to appreciate the realities of rural India and impart professional business management skills appropriate to the rural context", he said.

The Vice President said that there are great opportunities in the consumer space for traditional foods, crafts, eco-tourism in rural India. He called for better use of technology to realize this potential.

This unique coming together of the three legs of the economy- farm (agriculture production), manufacturing (primary food processing) & services (distribution, delivery)- can itself be a huge opportunity for the growth of the national economy, he said highlighting it's great socio- economic benefits for the nation.

Appreciating the women's role in India's White Revolution, he said that over 90 per cent of the contribution to the rural dairy economy comes from women but the overall contribution of women to the national GDP is much less at around 25 per cent. "We need to recognize the immense possibilities for women empowerment offered by rural organizations and supply chains. The dairy cooperative movement has amply demonstrated this." He said.

Shri Naidu also emphasized the need to conserve water to address the problem of water scarcity. He advocated 3Rs – Recycle, Reduce, Reuse - for effective water management and called for making water conservation a people's movement.

Maintaining that over per cent of India's population lives in its 6.4 lakh villages, Shri Naidu appreciated several initiatives taken by the government for betterment of rural lives such as - renewed focus on Pradhan Mantri Gram Sadak Yojana, near universal electrification under Saubhagya scheme, distribution of more than 8 crore LPG connections under Ujjawala scheme and commitment to provide every household with piped water supply (Har Ghar Jal).

Prior to the event, Shri Naidu visited National Dairy Development Board’s campus and was briefed on Amul's remarkable journey and various initiatives by NDDB such as - training conducted for farmers, initiatives on scientific animal nutrition, breed improvement and activities undertaken under the National Dairy Plan.

Shri Naidu also released a coffee table book on the 40 Years of IRMA.

Shri Bhupendrasinh Chudasama, Education Minister of Gujarat, Shri Mitesh Ramesh bhai Patel, MP (Lok Sabha), Shri Lalsinh Vadodia, MP (Rajya Sabha), Shri Dilip Rath, Chairman, IRMA, Prof. Hitesh V. Bhatt, Director, IRMA, Shri Kantibhai Chavda were among the dignitaries who graced the occasion.

"Dear Sisters and brothers,
I am very happy to be here among all of you on the 40th Foundation Day of IRMA.

I am happy to be in this great land that has been the 'janmabhoomi' and 'karma bhoomi' of many great men and women who shaped India's destiny.

Not far from here is the birthplace of SardarVallabhbhai Patel - the Iron man of India who successfully and peacefully merged the Princely states into the Indian Union. Our Father of Nation Mahatma Gandhi whose 150th birth anniversary is being celebrated this year was born here in 1869.
I pay my respects to these visionary leaders who have left behind a legacy we are all proud of.

Sisters and brothers,
Development of our villages was a subject very dear to the heart of Mahatma Gandhi who used to say that - "India's soul lives in villages."
He had also said - "If the village perishes, India will perish too."

SardarVallabhbhai Patel who himself was the son of a farmer, led peasants' movements in Kheda and Bardoli. Farmers' welfare was close to his heart as well.

I appreciate that IRMA, since its inception in 1979 has been working tirelessly to build an India that Sardar Patel and Mahatma Gandhi had dreamt of.

Dear sisters and brothers,
This institution is a testimony to the leadership and farsightedness of Dr. VergheseKurien who was a great institution builder.

Just before coming here, I have visited the NDDB campus. It is indeed a beautiful place with an inspiring story.

It was here that the 'White Revolution' was conceptualized and implemented. Thanks to the untiring efforts of Dr. Kurien and his team including the dairy farmers, India is currently the world’s largest producer of milk. The per capita milk availability in India has gone up from 120 gram per day in 1960 to 375 gram per day in 2018. This increase is despite our population rising by three times during the period.

Dear sisters and brothers,
When we talk of rural development, several things come to our mind such as rural roads, adequate electricity supply, availability of clean drinking water, sanitation etc.

I am happy to note that the Government under the leadership of Shri NarendraModi is taking active steps to address these issues in the true spirit of 'sabkasaath, sabkavikas'.

During last five years, nearly two lakh kilometers of new roads have been built across rural India under PradhanMantri Gram SadakYojana.
Now the government has decided to launch the 3rd Phase of this scheme. It involves upgradation of one lakh twenty-five thousand kilometres of rural roads in the coming five years. In this phase focus will be onthose roads that connect habitations with agricultural markets, schools and hospitals.

India has achieved landmarks in energy access with every willing rural household provided with an electricity connection under Saubhagya scheme. Only few households are left in four naxal affected districts.

More than 8 crore LPG connections have been released under Ujjawala scheme. This has brought the much-needed relief to the rural women who had to spend hours every day in collecting fuel wood.

Similarly, the Government is committed to provide HarGharJal (piped water supply) to all rural households by 2024 under the JalJeevan Mission. A new Jal Shakti Mantralaya, has been constituted for integrated and holistic water management.

Sisters and brothers,
Gandhiji was a staunch supporter of traditional crafts and agro-processing industries at village level.

In line with these Gandhian principals, the Government is implementing SFURTI scheme which promotes clusters of traditional industries with a focus on Bamboo, Honey and Khadi.100 such new clusters will be set up during 2019-20 enabling 50,000 artisans to join the economic value chain.

This year's Budget also provides for setting up of 80 Livelihood Business Incubators and 20 Technology Business incubators under ASPIRE scheme in 2019-20 to develop 75,000 skilled entrepreneurs in agro-rural industry sectors.

It is here, the role of institutes such as IRMA becomes important. Proper training and mentoring are a prerequisite to turn village- farmers into successful entrepreneurs and innovators.

We already have a big success story in Amul. The 'White Revolution' was achieved not by 'mass production' but 'production by masses'. This helped small and marginal farmers to reap the benefit of economies of scale in marketing.

If the Gandhian dream of decentralized village industries is to materialize, we'll need sufficient number of well-equipped professionals to manage such industries and institutions.

I am happy that over the last forty years, IRMA has been producing world class professionals who helped create & run numerous rural institutions through the dairy cooperative model.

Dear sisters and brothers,
There is great optimism about the New India within and outside the country.

India is on the track to become a 5 Trillion Dollar economy and contribution of rural India will be vital to achieve this target.

Farmers still constitute over 50 per cent of the Indian working population, but despite their hard work, agriculture's share in national GDP is only 15 per cent.

Our Prime Minister has given a call to double the farmers' income by the year 2022. If this has to be achieved, we need to adopt a multi-pronged approach. There has to be a renewed focus on agro-industries, cold storage, warehousing, food processing, dairy, poultry, fisheries and other non-farm avenues for generating income.

IRMA can play a big role in this massive transformation required in rural economy. There are numerous possibilities in this direction through supply chain efficiency improvements.

Replicating the dairy success story in a number of other value chains will present great opportunities for the nation.
The role of technology and innovative business models is also worth considering.

With the rise in numbers of smart phones in rural areas, and sustained push to towards a 'Digital India', farmers will have greater access to information relating to markets, prices etc.

These technologies have also already opened up new business avenues in rural India by way of Digital Payments, e-commerce etc.

Even look at the way how Dr. Kurien and his team had come out with the unique process for deriving milk powder from buffalo milk. This was the beginning of a successful revolution.

A similar revolution can be achieved if there can be a confluence of technology, supply chains, commerce and financing. This is going to revolutionise the way farmers earn their livelihood and deal with the markets and various stakeholders.

Full text of the speech

Dear sisters and brothers,
In order to deftly manage this unique and new reality of rural production and supply chain, we'll require quality of professionals- which institutions like IRMA can provide.

The role of entrepreneurship is also worth noting in this context. The overall support ecosystem and social ecosystem are much more favourable today than ever before for Start-Ups.

Today there are over 1,000 start ups in India in the food, agriculture and rural space. I urge you to plan for tapping into this potential. In the next couple of years, IRMA could create atleast 1,000 start-ups in the rural areas. It is only you who are uniquely positioned to be able to appreciate the realities of rural India and impart professional business management skills appropriate to the rural context.

There are great opportunities in the consumer space for foods, crafts, furniture, toys etc. coming from rural India. Re- discovering the benefits and niceties of traditional wisdom, we can not only preserve the tradition but transit it to a wider clientele. Consumers are increasingly wanting to engage with the producers, to understand the story behind the product and to contribute their small bit to nation building.

Imagine for instance a scenario where there are lakhs of micro rural enterprises and FPC (Farmer Producer Companies) producing a variety of food products through traditional recipes and on the other hand, there are lakhs of consumers looking at a fulfillment platform to service their needs for such products.

This unique coming together of the three legs of the economy- farm (agriculture production), manufacturing (primary food processing) & services (distribution, delivery)- can itself be a huge opportunity for the growth of the national economy on the one hand and a great mobiliser of socio- economic development of rural India at the same time.

Sisters and brothers,
To make India's growth story inclusive, we need to address the regional disparities in development.

We need to focus on certain areas that are still way behind on many parameters of development but offer numerous possibilities based on ethnic food, arts and crafts, eco-tourism. These strengths need to be identified and leveraged through a blend of digital technologies, e-commerce and innovative business models.

Also, on another note, we need to appreciate the fact that over 90 per cent of the contribution to the rural dairy economy comes from women. But the overall contribution of women to the national GDP is much less at around 25 per cent.

We need to recognize the immense possibilities for women empowerment offered by rural organizations and supply chains. The dairy cooperative movement has amply demonstrated this.

It is also important to make rural enterprises an attractive career choice for both urban and rural youth in India. A sensitization programme to inform the youth about these opportunities is the need of the hour.

IRMA can go a little beyond its current mandate to kindle this enthusiasm and creativity amongst the youth of the country.

As students and teachers of this great institution, I also appeal to each one of you to take this up as a task for yourself- as some kind of PSR (Personal Social Responsibility) - as against CSR (Corporate Social Responsibility)- to sensitize at least 10 youngsters in school in your network- to encourage younger generation to understand the realities and explore the possibilities in rural India.

To conclude, let me compliment IRMA on completing 40 years of purposeful service to the rural population of our country.I applaud the efforts being made by the Chairman and his team of professionals who are positioning this premier institution as the front ranking, forward looking institute.

You have an excellent track record. You have a great challenge ahead.

You have a unique opportunity of translating Mahatma Gandhi's vision of gram swaraj into a reality and positively impact India's 6.4 lakh villages and its 68.8 percent rural population.

Once again, I wish all of you the very best in your noble endeavour.
Jai Hind!"

India's services exports grew by over 5 per cent to USD 17.70 billion in October: RBI data #RBI #Sukumarbalakrishnan

According to the data from Reserve Bank of India (RBI), India's services exports increased by 5.25 per cent to US$ 17.70 billion in October, while imports stayed nearly flat at US$ 10.86 billion. In October 2018, the services exports or receipts stood at US$ 16.82 billion, whereas the imports or payments were worth US$ 10.10 billion.

The exports of services in September were worth US$ 17.54 billion and the imports were of the order of US$ 11.10 billion, as per the RBI data on India's International Trade in Services.

India is one of the main economies contributing to the world services export industry. The contribution of the services sector is about 55 per cent in India's gross domestic product.

The data for the latest month comes with a gap of 45 days. The data published by the RBI is provisional and undergoes revision when the Balance of Payments data is released on a quarterly basis.

Saturday, December 14, 2019

Dubai's Danube Home to take e-comm route in India

The furnishing and interiors business arm of Dubai-based Danube Group, Danube Home, intends to sell its products online in India. Lat year, the firm opened its maiden store in the country and will now enter the e-commerce business by offering products on sites such as Amazon in the first quarter of 2020.

"By June 2020, we will have our own e-commerce window," said Mr Rizwan Sajan, Founder and Chairman of Danube group.

The firm after assessing the progress will take a call on expanding its presence in the country next year.

"We have invested about Rs 50 crore (US$ 7.15 million) so far here. After we firm up our expansion plans, we might invest Rs 150 crore (US$ 21.46 million), about Rs 30 crore (US$ 4.29 million) each on smaller stores," he said.

Although, the final decision on investments and expansion would be made after six months when the assessment of its business is completed in the country.

Around 90 per cent of the target set by the company for itself has been achieved.

"We are targeting a growth of 25 per cent in the second year," he added.

"We would like to focus on the e-commerce business as it is expanding steadily in the country. This window would help us reach out to the growing number of millennials that are mostly shopping online," Mr Shubhojit Mahalanobis, General Manager of Danube Home, has said.

The company has stores in over 22 countries and has tied up with over 20 vendors from Telangana, Gujarat, Mumbai and some other places in north India for manufacture of products to its standards.

The firm also plans to increase its exports in home decor and home furnishing products from Indian craftsmen and make it available to markets in the Gulf region.

RIL arm acquires 85 per cent stake in NowFloats Technologies for Rs 142 lakh

A wholly owned subsidiary of the Mukesh Ambani-controlled Reliance Industries Ltd (RIL), Reliance Strategic Business Ventures Ltd (RSBVL), has acquired an 85 per cent stake in NowFloats Technologies for Rs 141.63 lakh (US$ 0.20 million) in cash.

In order to achieve a certain milestone, RSBVL proposes to make a further investment of up to Rs 75 crore (US$ 10.73 million) in NowFloats. This additional investment is likely to be finished by December 2020, as per the regulatory filing of RIL.

The shareholding of RIL in RSBVL will increase to 89.66 per cent post the additional investment. This will further support the group's digital and new commerce initiatives, it added.

Nowfloats offers SaaS solutions, which is an online business management suite, website promotion and marketing solutions, among others, to Small and Medium Enterprises (SMEs).

Nowfloats had posted a turnover of Rs 32.56 crore (US$ 4.66 million) and a net loss of Rs 43.24 crore (US$ 6.19 million) in the financial year ended March 2019.

47.86 GW of renewable energy capacity installed in last six years

A total of 47.86 GW of renewable energy capacity has been installed in the country during the last six years i.e. March 2014 to October 2019.

The source-wise and state-wise details of the generation of electricity through renewable energy sources during the last five years and current year are given in the Annexure.

The initiatives taken by the Government to explore new and renewable energy sources in the country inter-alia, include the Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route, Waiver of Inter State Transmission System (ISTS) charges and losses for inter-state sale of solar and wind power for projects to be commissioned up to December, 2022, notification of standard bidding guidelines to enable distribution licensee to procure solar and wind power at competitive rates in cost effective manner, declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2022, launching of New Schemes, such as, PM-KUSUM, solar rooftop phase II, 12000 MW CPSU scheme Phase II, etc.

The Government has set a target of installing 175 GW of renewable energy capacity by the year 2022 which includes 100 GW from solar, 60 GW from wind, 10 GW from Biomass and 5 GW from Small Hydro.

All the major programmes/schemes being implemented by the Ministry have established mechanisms to monitor the implementation of these schemes. The provision, inter-alia, include:

Physical verification by State implementing agency.
Periodic inspection by the officials of Ministry of New and Renewable Energy (MNRE).
Third party evaluation.
This information was provided by Minister of State (IC) New & Renewable Energy, Power and Skill Development and Entrepreneurship Shri R.K. Singh, in written reply to a question in Lok Sabha today.

70 Rail and Road Projects Worth Rs 48,782 Crore Undertaken for Enhancement of Port Connectivity: Shri Mansukh Mandaviya

In a written reply to a question in Lok Sabha today the Minister of State for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya informed that the Government of India has undertaken 55 rail projects worth Rs 45883.2 crore (US$ 6.57 billion) and 15 projects worth Rs 2899 crore (US$ 0.41 billion) for enhancing port connectivity at various Major and Minor ports.

Shri Mandaviya informed that out of 55 rail projects, 15 projects worth Rs. 1048.20 Crore have been completed and 40 projects with a cost of Rs 44785 crore (US$ 6.41 billion) are under implementation. Out of 15 road projects, 10 projects worth Rs 2592 crore (US$ 370.87 million) have been completed and 5 projects amounting to Rs. 307 Crore are under implementation.

He said that an expenditure for 38 rail connectivity projects being undertaken by Ministry of Railways till March,2019 is approx. Rs 16403 crore (US$ 2.35 billion). For 15 road and 17 rail connectivity projects undertaken by Ministry of Road Transport & Highways/ Major Ports, the expenditure in last three FYs is approx. Rs 3204.82 crore (US$ 458.55 million).

Thursday, December 12, 2019

Cabinet approves MoU between Central Drugs Standard Control Organization and Saudi Food and Drug Authority

The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved ex-post facto the Memorandum of Understanding between Central Drugs Standard Control Organization (CDSCO) and Saudi Food and Drug Authority in the field of Medical Products Regulation. The MoU was signed on October 29, 2019 during the visit of the Prime Minister Shri Narendra Modi to Saudi Arabia.

Benefits:

The MoU would facilitate better understanding of the regulatory aspects between the two sides and help in increasing India's export of medical products to Saudi Arabia. It will also enable better coordination in international fora.

Passenger vehicle retail sales up 1 per cent in November: FADA #FADA #Sukumarbalakrishnan

ITC, a diversified conglomerate is targeting up to 20 per cent of the Rs 7,400 crore (US$ 1.06 billion) frozen food market in India in next three years with the company increasing its offering in the category, as per a senior company official.

Recently, the firm has ventured into the frozen food segment under ITC Master Chef brand aiming both retail and food services players. The company also plan to expand its reach to over 30 cities in the retail segment and 100 cities in food services segment during the period.

"Currently, the frozen foods market in India is about Rs 7,400 crore (US$ 1.06 billion) and it is growing at about 17 per cent annually...Our intention is to explode the category. We are doubling our volumes. Our growth rate is about 6-7 times the industry growth," said ITC Chief Executive - Frozen Snacks, Fruits and Vegetables Mr Sachid Madan.

He added that the expansion of the product range will aid in company's progress in the category along with the reason that it is offering freshly frozen food with no added preservatives and can be cooked in multiple ways.

"We are in both (vegetarian and non-vegetarian) segments and we are beyond even chicken. In the categories in the market that we are present, we are aiming at 15-20 per cent share over the next three-odd years as we establish our distribution," Mr Madan said.

ITC will become the third major organised player in the frozen food segment after McCain, which mainly offers in the vegetarian segment and Venky's, which offers in non-vegetarian, he further added. Presently, ITC's market share ranges from 5-15 per cent in the segment depending on outlets and range.

"The market is very small compared to its potential. The idea is if it is growing at 17 per cent how can we accelerate it? When we are growing at 100 per cent, it will definitely grow," he said.

Around 50 different frozen food products were introduced under ITC Master Chef brand by the company consisting of a variety of Indian flavours such as 'Mumbai Vada Pops', 'Rajmah ki Galauti', 'Chicken Galauti', 'Falafel Kebab', 'Achari Beetroot Kebab', among others.

Mr Madan said, "These items are now available in 60 cities under the food service portfolio and 11 cities in retail outlets. In the next three years 60 will go to 100 and beyond and 11 will go to about 30." The focus is on expanding penetration of the category and dispel the myth about frozen foods not being healthy in consumers' mind, he said.

The company is first planning to expand in metros and urban areas for these products and will also made widely available to consumers and food services segment, including restaurants, cafes and pubs across India, including tier II and III cities, he added.

In order to produce these products, ITC has partnered with American firm OSI and is utilising the latter's manufacturing facilities in India. "We are manufacturing in Punjab, Andhra Pradesh and Maharashtra. We are kind of covering most of the places where the markets are," Mr Madan said.

ITC bets big on frozen food segment, eyes 20 per cent market share in 3 years

ITC, a diversified conglomerate is targeting up to 20 per cent of the Rs 7,400 crore (US$ 1.06 billion) frozen food market in India in next three years with the company increasing its offering in the category, as per a senior company official.

Recently, the firm has ventured into the frozen food segment under ITC Master Chef brand aiming both retail and food services players. The company also plan to expand its reach to over 30 cities in the retail segment and 100 cities in food services segment during the period.

"Currently, the frozen foods market in India is about Rs 7,400 crore (US$ 1.06 billion) and it is growing at about 17 per cent annually...Our intention is to explode the category. We are doubling our volumes. Our growth rate is about 6-7 times the industry growth," said ITC Chief Executive - Frozen Snacks, Fruits and Vegetables Mr Sachid Madan.

He added that the expansion of the product range will aid in company's progress in the category along with the reason that it is offering freshly frozen food with no added preservatives and can be cooked in multiple ways.

"We are in both (vegetarian and non-vegetarian) segments and we are beyond even chicken. In the categories in the market that we are present, we are aiming at 15-20 per cent share over the next three-odd years as we establish our distribution," Mr Madan said.

ITC will become the third major organised player in the frozen food segment after McCain, which mainly offers in the vegetarian segment and Venky's, which offers in non-vegetarian, he further added. Presently, ITC's market share ranges from 5-15 per cent in the segment depending on outlets and range.

"The market is very small compared to its potential. The idea is if it is growing at 17 per cent how can we accelerate it? When we are growing at 100 per cent, it will definitely grow," he said.

Around 50 different frozen food products were introduced under ITC Master Chef brand by the company consisting of a variety of Indian flavours such as 'Mumbai Vada Pops', 'Rajmah ki Galauti', 'Chicken Galauti', 'Falafel Kebab', 'Achari Beetroot Kebab', among others.

Mr Madan said, "These items are now available in 60 cities under the food service portfolio and 11 cities in retail outlets. In the next three years 60 will go to 100 and beyond and 11 will go to about 30." The focus is on expanding penetration of the category and dispel the myth about frozen foods not being healthy in consumers' mind, he said.

The company is first planning to expand in metros and urban areas for these products and will also made widely available to consumers and food services segment, including restaurants, cafes and pubs across India, including tier II and III cities, he added.

In order to produce these products, ITC has partnered with American firm OSI and is utilising the latter's manufacturing facilities in India. "We are manufacturing in Punjab, Andhra Pradesh and Maharashtra. We are kind of covering most of the places where the markets are," Mr Madan said.