Unpolitics: Nitin Gadkari on highways, green fuel and political journey
The Indian defence capabilities are going to get a big boost with the government approving the "execution model" for implementing a major indigenous project to develop fifth-generation, deep-penetration advanced medium combat aircraft (AMCA) for the Air Force, potentially making us the fourth country to possess such stealth fighter jets. At the moment, the plans are to import them.
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Business Standard
35 minutes ago
- Business Standard
Costa Coffee's India FY25 sales jump 30%, gross margin declines marginally
British coffee chain brand Costa Coffee's India revenue from operations surged 30.76 per cent to ₹198.5 crore in FY25, and its profit rose 28.4 per cent to ₹149.7 crore. The growth was driven by store expansion, as the number of outlets increased from 179 to 220 in FY25, according to the latest annual report of Devynai International Ltd (DIL). Its revenue from operations was ₹151.8 crore, and profit stood at 116.6 crore for the financial year ended March 31, 2024. Costa Coffee's gross margin declined marginally to 75.4 per cent from 76.8 per cent in FY24, primarily because of inflation in coffee beans and other input materials. "The brand contribution margin came down from 17 per cent to 16.1 per cent, with average daily sales (ADS) per store declining from ₹33,000 to ₹27,000, translating into a reduction of same store aales growth (SSSG) from 8.7 per cent to 4.1 per cent during this period," said DIL. Costa Coffee is operated in India through its franchise partner DIL, a leading QSR (Quick Service Restaurant) chain operator. Earlier this year, in April, Costa Coffee's Global CEO Philippe Schaillee, who was on a visit here, told PTI that India is going to be among the top five global markets for the British coffee chain brand. The coffee brand, now owned by beverage major Coca-Cola, is currently among the top ten global markets. "Costa Coffee is aggressively expanding in India, targeting 40-50 new outlets annually despite global economic uncertainties. DIL sees India as a high-potential market, driven by a growing preference for premium coffee among millennials and Gen Z," said DIL. This trend is manifest in the fact that the coffee space in the country is growing at 10 to 12 per cent, double the rate of global markets. "India, which is among Costa's top 10 markets globally, has the potential to get into the top five markets in five years, and Costa Coffee is just the sweetly aromatic spot to seize this strong opportunity," the report said. According to DIL, India, which is largely a 'chai' (tea) loving nation, is becoming a country of a growing populace of coffee lovers, with a massive cultural shift in its drinking habits over the years. Coffee is now the first love of many Gen Z Indians influenced strongly by Western culture, which is often a part of their work ethos. "At Costa Coffee, this has actuated a strong focus on expanding the brand's presence in high footfall locations, such as airports and multiplexes," said DIL. In the Indian cafe market, Costa Coffee competes with international chains such as Starbucks, Tim Horton, McCafe, and Dunkin'. Besides, local chains like Cafe Coffee Day, Blue Tokai, Third Wave Coffee and Barista are also amplifying their play in the fast-growing cafe market in India.
India Gazette
37 minutes ago
- India Gazette
Madhya Pradesh CM Mohan Yadav to leave for Dubai today for investment outreach
Bhopal (Madhya Pradesh) [India], July 13 (ANI): Madhya Pradesh Chief Minister Mohan Yadav is scheduled to go on an official visit to Dubai in the UAE and Spain from July 13 to July 19. The aim of his visit is to bring global investment to Madhya Pradesh, encourage technology sharing, and create new job opportunities. As per the release, Yadav will leave for Dubai on Sunday afternoon. Soon after reaching, he will meet several well-known people to tell them about the strengths of Madhya Pradesh. He will speak about investment, education, and building strong cultural ties between Madhya Pradesh and Dubai. He will also meet members of the Indian community living there. During his visit, Yadav will also visit a temple in Dubai whose foundation stone was laid by Prime Minister Narendra Modi. Apart from this, he will also hold the first international roadshow in Dubai. Yadav's visit will start with several meetings. There will be important discussions along with lunch in the initial meeting. Reliance Group SR Vice President Farhan Ansari, as well as Arab Parliament Speaker Mohammad Al Yamahi will also be present in this meeting. In this meeting, topics like strategic investment cooperation, education, youth exchange program, parliamentary dialogue and cultural friendship between Madhya Pradesh and Dubai will be discussed. After this, Yadav will hold a meeting with the Indian business delegation in Dubai. The Chief Minister will visit the grand BAPS Hindu temple in Abu Dhabi. The foundation stone of this temple was laid by Prime Minister Narendra Modi in February 2024. This temple is the first traditional stone-built Hindu temple in the Middle East region. It is a living symbol of spiritual tolerance and cultural harmony between India and the United Arab Emirates. CM Yadav will participate in a round table meeting on the tourism sector in Dubai in the evening. It will include tourism experts, hoteliers, travel agents and other stakeholders. Attempt to reconnect with roots In the evening, the 'NRI and Friends of MP Samvad' program will be held at the Taj Hotel, Dubai. More than 500 NRI entrepreneurs, professionals, cultural representatives and prominent institutional members will participate in it. This event will not be just a formal dialogue, but will be an extension of the spirit of Chief Minister Yadav through which he will urge the diaspora community to reconnect with their roots, enrich the state with their experiences and make them partners in the development of their state. This strategic engagement will form a solid foundation for future social and industrial investment. Chief Minister Yadav will also hold the first international road show of 'Industry and Employment Year 2025'. Next day, Chief Minister Yadav will hold one-to-one meetings with various global groups. In these discussions, the possibilities of joint ventures, technical cooperation and FDI projects in areas like food processing, renewable energy, logistics, IT, urban infrastructure, mining, textile and tourism will be considered. Investors are showing special interest in projects related to farm-to-market supply chain, infrastructure, solar-green energy, cold chain logistics, data centres, smart city models, rare earth mineral processing, export-oriented textile hubs and development of religious tourism. The same evening, 'Invest in Madhya Pradesh-Business Forum' will be organised at the Taj Hotel. In this, the state government will present its new industrial policies, logistics network, skill cluster, textile park, MSME zone and major tourism investment schemes to global investors. Through this forum, the preliminary outline of investment proposals, MoUs and possible joint projects will also be discussed. (ANI)
India Gazette
37 minutes ago
- India Gazette
Centre's semiconductor push could cut chip imports by USD20 bn: McKinsey
New Delhi [India], July 13 (ANI): The central government's endeavours to develop the Indian semiconductor industry will help reduce the country's reliance on imported chips by an estimated USD 10 billion to USD 20 billion, said a report by a major consultancy firm, McKinsey. According to the firm, India must combine targeted government incentives with strategic collaborations involving global technology giants to accelerate the growth of its semiconductor industry. The consultancy highlights that such a dual approach is essential for India to establish itself as a key player in the global semiconductor value chain. 'To realise this potential value and reduce import dependency, India will require a mix of targeted government incentives and partnerships with global technology leaders,' the report added. Semiconductor chips are essential components in virtually all electronic devices, enabling a wide range of functionalities from basic computation to advanced technologies. According to the estimates, Indian market for semiconductors is expected to cross USD 100.2 billion by 2032 from USD 34.3 billion in 2023. Today, India's semiconductor industry is primarily centered on design. The country accounts for about 20 per cent of the global semiconductor design workforce and is home to Research and Development (R&D) hubs for major players. Over the past year, several large projects, ranging from USD 3 billion to USD 11 billion, have been announced, signalling a strategic move toward outsourced semiconductor assembly and testing (OSAT) and legacy-node fabrication. The report stated that these efforts are backed by roughly USD 10 billion in government incentives, which are expected to help reduce the country's reliance on imported chips. India's strength in chip design is supported by a large talent pool and a growing start-up ecosystem, putting the country among the top three global design hubs. However, the transition to large-scale semiconductor fabrication is expected to be a gradual process, stated the firm. India's semiconductor industry is pushing to achieve fabrication at nodes above 14 nanometers by 2030; moving to sub-ten-nanometer technologies will likely take longer. The main challenges are high capital requirements, limited access to advanced manufacturing technologies, and gaps in the domestic supply chain, especially for high-purity gases, specialty chemicals, and ultrapure water. 'Partnerships with prominent global semiconductor companies could catalyze and accelerate the advancement of this industry,' the firm further added. (ANI)
