Bikaji Foods forms joint venture with Nepal's Chaudhary Group
The 50:50 joint venture between the two entities will involve manufacturing, trading and marketing Bikaji Foods' portfolio. Both companies will jointly invest capital in one or more tranches to build a state-of-the-art facility in Nepal, Bikaji Foods said in a statement.
CG Group makes Wai Wai noodles and has interests in hospitality, infrastructure, education and financial services.Deepak Agarwal, managing director of Bikaji Foods, said in a statement: 'This partnership seeks to create value, empower communities, fortify supply chains and enhance Nepal's food ecosystem.'Varun Chaudhary, director of CG Foods Nepal added that the joint venture would 'create long-term value for Nepal from generating employment to strengthening supply chains.'
In March this year, Haldiram Snacks Food too had onboarded new investors - Singapore's Temasek, Alpha Wave Global and International Holding Company (IHC) to further its global footprint.India's snack foods market is seeing double-digit surge in sales, with players such as Bikaji, Haldiram, ITC, Parle, Balaji Wafers, Crax and Yellow Diamond competing for a share in India's Rs 47,000-crore snacks market.According to a report by research company IMARC Group, the Indian snacks market could expand to Rs 95,521.8 crore by 2032.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
22 minutes ago
- First Post
While Trump imposes high tariffs, India dramatically increases energy imports from US
While US President Donald Trump is threatening to impose high tariffs on India, data suggests that New Delhi has dramatically increased its energy purchases from the US since Trump came to office in January. read more While US President Donald Trump is threatening to impose high tariffs on India, data suggests that New Delhi has dramatically increased its energy purchases from the US since Trump came to office in January. According to the data cited by The Hindustan Times, crude oil imports surged a whopping 51 per cent in the first half of 2025 compared to the same period. The energy commitment reflects New Delhi's bid to rebalance trade ties with Washington, DC, which has been one of the key demands of the Trump administration from India. The data also reflected that India's Liquefied natural gas imports have nearly doubled from $1.41 billion in FY2023-24 to $2.46 billion in FY2024-25. STORY CONTINUES BELOW THIS AD It is pertinent to note that this rise in energy imports followed a February Agreement signed between Trump and Prime Minister Narendra Modi during the latter's visit to the US. At that time, both leaders committed to expanding energy cooperation. India went on to pledge to boost American energy imports to $25 billion from $15 billion in 2024, while bilateral trade is targeted to more than double from $200 billion to $500 billion by 2030. Indian companies tap into the American energy sector According to the data cited by The Hindustan Times, Indian purchases from America jumped 114 per cent to $3.7 billion in the first quarter of FY2025-26 from $1.73 billion in the same period the previous year. 'This trend is increasing further from July this year. So, in July 2025, India imported 23 per cent more crude oil from the US compared to June 2025. Also, in India's overall crude imports, while the US share was earlier only 3 per cent, in July that share increased to 8 per cent,' one of the people who analysed the data told The Hindustan Times. Not only this, American LNG has also emerged as an attractive market for Indian companies. 'Buying LNG from America is a very attractive proposition for many Indian companies,' said Prashant Vashisht, senior vice president at ratings agency ICRA, told the Indian news outlet. The jump came after Trump reversed former US President Joe Biden's pause on processing LNG export licences soon after taking office. Amid this rise, the US Energy Information Administration expects North America's LNG export capacity to double by 2028, with the US providing most of the increase. India's growing appetite for American energy is also coming at a time when the country is poised to become the largest driver of oil demand in the world. According to the International Energy Agency, India will surpass China as the major driver of global oil demand growth by 2030, with LNG demand expected to jump 78 per cent to reach 64 billion cubic metres annually.
India.com
22 minutes ago
- India.com
Who was Kareem Bhai Ibrahim? Man who donated land for orphanage, later sold by.., now occupied by Mukesh Ambani for…, Ambanis purchased land for Rs…
Mukesh Ambani and Nita Ambani's Antilia (File) Antilia is one of the most expensive and largest private homes in the world. The iconic residence is owned by Mukesh Ambani. The 27-story skyscraper has extravagant amenities such as multiple swimming pools, a helipad, a health spa, a 50-seat movie theater, and extensive gardens. Antilia is named after a mythical island and represents extravagant luxury and architectural perfection. The Mumbai home, which is valued at approximately Rs 15,000 crore, is not just a symbol of wealth but also explains the grandeur of Ambani's lifestyle. What if we said that this 27-floor iconic skyscraper, owned by the head of Reliance Industries, was built on top of land that was designated for charity or religious education? Yes, the very plot that now houses one of the richest men in the world was once intended to serve orphans and the underprivileged, according to a viral video by AIMIM leader Asaduddin Owaisi. The land that currently sits under Antilia has a background just as tumultuous as any courtroom story. This land was never intended to be luxurious; it was only ever donated for charitable purposes. In 1895, a rich ship owner named Kareem Bhai Ibrahim donated the land to build an orphanage called the Currimbhoy Ebrahim Khoja Yateemkhana. It was an orphanage designed to house and educate orphaned children, but it was also expected to teach religious and moral lessons. In 1986, news reports state the land was transferred to a trust owned by the Waqf Board, a charitable body looking after Muslim religious endowments. The trust was created for the public good, in that it provided accommodation and education to orphaned children. In 2002, the Waqf Board made the decision to sell off the land – this was the beginning of the controversy. The land for the Waqf was valued at approximately USD 18 million, but it was sold to a commercial entity associated with Mukesh Ambani's family for just USD 2.5 million. The sale was vigorously opposed by both the Waqf Board and several local politicians, who would go on to insist that a piece of land that had been held for charitable purposes should not be considered property that may be sold or transferred to a private party, especially at such a deep discount. Ultimately the deal was approved despite these objections and Antilia moved to construction.
New Indian Express
22 minutes ago
- New Indian Express
Plan to increase Poondi reservoir's storage capacity pending for four years
CHENNAI: The Water Resources Department's (WRD) proposal to raise the water storage capacity of Sathyamoorthy Sagar reservoir, also known as the Poondi reservoir, has been pending for the past four years despite preparing a Detailed Project Report (DPR). The department had planned to increase the Full Reservoir Level (FRL) by two feet – from the present 35 feet to 37 feet. This move, which would help increase the reservoir's storage from 3.231 tmcft to 3.971 tmcft, adding an extra 0.74 tmcft of water continues to remain on paper till now. Locals claim that besides increasing drinking water sources for the city, the project is also expected to mitigate flooding risks in a few villages located close to the reservoir. Speaking to TNIE, a senior WRD official said the DPR prepared last year estimated the project to cost Rs 552.60 crore. However, the report has still not been taken up with the state government since it is still under the consideration of the WRD. The official said that feasibility studies have already been done at a cost of Rs 48 lakh for the project. 'Work of surveying the existing ground level for the entire existing embankment, proposed foreshore bund area and reserved forest area adjoining the reservoir are completed. Once we get approval from the finance department, we submit the DPR and execute the task immediately,' the official added.
