GCMMF plans bigger forays in the sweet market with plants in leading cities
Geetanjali Minhas | August 31, 2019 | Mumbai
Allaying fears of an economic slowdown, RS Sodhi, managing director of Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) which owns the brand Amul, has said there is no slowdown in the dairy industry which is growing at an average of 14 percent. Amul, the industry leader, was witnessing a double-digit growth in each of its segments with an average growth of 25 percent across segments.
“The company has grown overall 24-25% in the first five months of FY20 and has seen double-digit volume growth across categories including milk, cheese and ice cream. The growth in the ice cream segment alone may be more than 20%,” he said. “For the last ten years Amul has been growing at the rate of 18percent to 19 percent. With rising disposable incomes, consumers are spending more on protein and fat rich diet including dairy products. As far as dairy industry is concerned I don’t see any slowdown.”
He expected the GCMMF revenue to rise from Rs 33,000 crore last year to around Rs 40, 000 crore this year. As for the Amul brands, against Rs 42,000 crore last year, he expects the revenues to touch Rs 52,000 crore in FY 20.
He was speaking to reporters on the sidelines of the ‘FICCI Foodworld India 2019 - Driving Innovation in Food Processing Sector’, jointly organized by FICCI with the ministry of food processing industries earlier this week in Mumbai.
Speaking on the increasing price of milk and milk products, he clarified that the amount paid to the farmer had been declining by the year. Further, in near future, “I do not foresee any increase in the milk prices though there may be a very small increase in [prices of other] products.”
Sodhi said that the company was focusing on fresh products, especially, Indian sweets, as it is a large market. “We already have a few products but we want to get into the fresh local sweets market which will have a shelf life of at least 40 days. We plan to set up plants in various places including Mumbai, Surat, Delhi and Kolkata to offer local delicacies. Mumbai’s sweets market itself is worth Rs 1,700 crore. You can understand the scope of this business. We will invest in setting up the facilities but it will not be very significant.”
HelpAge India Report 2021, ‘The Silent Tormentor: Covid 19 & the Elderly’, assesses the impact and challenges of the pandemic on lives of elderly living in households (informal settings) and old-age homes (informal settings). It unravels some deep-seated fears of the country’s elderly
To reduce the gap between citizens and authorities BMC will continue its ward war room approach which has now come to be known as the Mumbai Model for addressing health or disaster related issues that may arise in future. Additional Municipal Commissioner (Health, MCGM) Suresh Kakani has sa
The centre government has increased the grant to Kerala under the Jal Jeevan Mission in the year 2021-22 to Rs 1,804.59 Crore, which was Rs 404.24 Crore in 2020-21. In Kerala, on 15th August 2019, at the time of the launch of J
On average, a truck in India covers 50,000-60,000 km a year, compared to over 300,000 km in advanced nations such as the United States. One of the key reasons is delays due to random stoppages for physical checking of vehicles and verification of documents.
The National Highways Authority of India has made mandatory use of drones for monthly video recording of National Highway projects during all stages of development, construction, operation and maintenance. The initiative aims to enhance transparency, uniformity leveraging the l
The National Centre for Promotion of Employment for Disabled People (NCPEDP), a cross-disability advocacy organisation, in collaboration with Azim Premji Foundation, has announce