&w=3840&q=100)
Zomato parent firm Eternal incorporates food services arm, Blinkit Foods
"Blinkit Foods is proposed to be incorporated as a wholly owned subsidiary and would, inter alia, engage in the business of providing food services (including innovation, preparation, sourcing, sale, and delivery of food to customers)," the company said in a stock exchange filing.
While details remain unclear about the specific focus of Blinkit Foods, it is likely to support Blinkit's quick commerce operations, particularly its 10-minute food delivery service, Bistro. The service, which is being expanded, is currently active in Bengaluru and Delhi-NCR via 38 kitchens.
The new entity will be established with a proposed authorised share capital of ₹1 crore, and a proposed paid-up share capital of ₹10 lakh, consisting of ₹1 lakh equity shares with a face value of ₹10 each.
According to Deepinder Goyal, the company's co-founder and chief executive officer, preliminary data shows that these kitchens are generating incremental demand without cannibalising the Zomato (the company's food delivery arm) business. He added that through the platform, the company is tapping into two demand pockets, including customers who are looking for high-quality but low-cost meals and those looking for 'snacky' food in 10 minutes.
"While customer-side traction is pretty strong, we need to work and find answers to making money in this business. We will therefore continue to make calibrated investments towards building a scalable and profitable business here and will keep you posted when we have more to share," Goyal said in the shareholders' letter as the company also announced its financial results for the first quarter of FY26.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
35 minutes ago
- Time of India
Commerce minister Piyush Goyal confident of US trade pact ahead of tariff deadline
London: Commerce minister Piyush Goyal said he was optimistic that India could reach an agreement with the US ahead of an August 1 deadline to avert threatened tariffs of 26%. "I'm always confident," Goyal said in an interview Thursday with Bloomberg TV in London, when asked how he was feeling about prospects for a pact. Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity PGDM Data Science MCA Operations Management Public Policy Product Management Finance Leadership Data Science MBA Others Artificial Intelligence Project Management Degree Healthcare healthcare Data Analytics Management others Digital Marketing CXO Technology Design Thinking Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details "I've had some wonderful engagement with my friend and colleague from the US," he said, calling US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer "very dear friends." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Goyal insisted there weren't any sticking points in the US-India relationship or in current trade talks , and clarified that immigration rules - including around H-1B visas for skilled workers - had not come up in this year's talks. "We have very robust negotiations going on with several countries," including with the US, EU, New Zealand, Peru, and Chile, Goyal said Thursday. Live Events
Time of India
2 hours ago
- Time of India
FTA game changer for trade, investment, services for India and UK: Piyush Goyal
London: The India-UK Free Trade Agreement ( FTA ) is truly a game changer in trade, investment and services sectors, Commerce and Industry Minister Piyush Goyal said on Thursday. The minister said it was "remarkable" that a journey which started over two decades ago culminated with a historic prime ministerial visit and in a very "fair, equitable and balanced agreement" that ensures the possibility to double India-UK trade to USD 120 billion in the next five years. Explore courses from Top Institutes in Please select course: Select a Course Category Management Degree healthcare Operations Management PGDM MCA Technology CXO Design Thinking Public Policy Data Science Artificial Intelligence MBA Digital Marketing Finance Others Data Analytics Leadership Product Management Healthcare others Data Science Project Management Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details "Truly this is going to be a game changer, in trade, in investments, in the services sector and help both India and the UK grow and our people benefit," Goyal told PTI soon after signing the agreement with his UK counterpart Jonathan Reynolds, witnessed by Prime Ministers Narendra Modi and Keir Starmer at Chequers in Buckinghamshire. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 21st Century Skills Start with Confident Communication Planet Spark Learn More "Our farmers will get a lot of opportunities, because we can process those farm products and market them in the UK. Our MSME sector will get a plethora of opportunities in aircraft parts and auto components, various engineering products. Our textiles will see a massive spurt in demand, because now on a competitive basis, we will be right on top with zero duties," he said. Whether it's leather, footwear, toys, furniture, pharma products, a very wide range of India's own strengths, which we are currently exporting in big measure across the world, will find markets in the United Kingdom, Goyal said. Live Events He also highlighted the Double Contribution Convention (DCC), which has been agreed to be enforced alongside the FTA. "Our people who come and serve in UK for short term, two years or three years, who today land up losing almost 25 per cent of their earnings in Social Security, which never gives them any benefit, will now have an opportunity under the DCC to pay this money into their provident fund account in India, and that money will be secure. That money will be giving them an over 8 per cent tax-free return and will become their pension and Social Security in the long run," he explained. The minister noted that though the parliamentary ratification process in the UK will take some time, the signing process gives businesses certainty for the long run due to bipartisan support in Britain for the agreement. "The UK parliamentary process will take a few months. The good part is that it has always had bipartisan support. It was largely negotiated when the Conservatives were in power, and today, with the Labor government, it has culminated into a robust and very fair and balanced agreement, and therefore, I think this will get cleared pretty quickly," Goyal said. "Businesses will be already planning, because there's a stable and predictable environment. The Free Trade Agreement will be known to everybody, and businesses can start integrating their supply chains and can start planning the benefits of this agreement, planning their business growth because of this agreement. So, I think the work will start right away. The benefits will start accruing in a few months," he said. At a personal level, the minister described the agreement as an "extremely redeeming and satisfying" moment that concluded with a great rapport with his UK counterpart. He added: "I feel very humbled that Prime Minister Modi reposed confidence and faith in me to be able to conclude this agreement, which has been quite complicated. "Many, many years have gone by. Talks have been on and off, but I feel very humbled by the experience. I feel very, very satisfied with the outcome, and I'm sure what started as a very difficult negotiation, but has concluded in a very friendly and very amiable relationship, will continue in the years to come to be a torch bearer for the progress and development of both countries."
&w=3840&q=100)
Business Standard
4 hours ago
- Business Standard
'Made in India' gets UK boost: Goyal hails 'red carpet' for local products
Union Commerce Minister Piyush Goyal on Wednesday shared a detailed list of state-specific 'Made in India' products poised to benefit from the newly signed India-UK Free Trade Agreement (FTA). In a post on X, Goyal said, 'UK rolls out the red carpet for 'Made in India',' as he posted an infographic highlighting goods from across Indian states that will now get easier access to the UK market. UK rolls out the red carpet for 'Made In India' ???????????????? #IndiaUKFTA — Piyush Goyal (@PiyushGoyal) July 24, 2025 The FTA, officially signed between India and the United Kingdom, marks a significant milestone in bilateral economic relations. While the agreement involves a wide range of tariff reductions and regulatory relaxations, Goyal's post brought public attention to the practical, region-specific outcomes that could transform export ecosystems across the country. Gains from India-UK FTA: State-wise list The infographic presents a diverse spread of Indian products across states that are set to benefit from zero-duty or reduced-duty access to the UK. Here's a snapshot of key items: Signed after years of negotiation, the India-UK FTA aims to double bilateral trade to over $100 billion by 2030, from around $56 billion at present. The deal slashes tariffs across nearly 99 per cent of traded goods and opens up greater mobility for Indian professionals. India-UK FTA: Key takeaways Labour-intensive exports: Indian textiles, footwear, handicrafts, and processed foods to get duty-free entry into the UK Market access for services: Easier movement for chefs, yoga instructors, artists, and IT professionals Agricultural edge: Over 95 per cent of Indian agricultural and processed food exports—such as spices, fruits, and seafood—will enter the UK tariff-free Tariff cuts on imports: Safeguarding domestic interests Despite wide-ranging liberalisation, India has ensured that sensitive categories such as dairy, apples, edible oils, and oats are excluded from duty concessions. This balance aims to protect domestic producers while tapping into export-led growth.
