PackMan Weekly Round-up

Four top headlines from PackMan. These include: Reliance Retail to scale up business next fiscal; Union minister Mandaviya propagates pharma and medtech sectors; Perfetti India is among top-five for the group’s presence worldwide; Tim Hortons will open 120 stores in India till 2026.

31 Aug 2023 | By WhatPackaging? Team

Follow PackMan if you want to a weekly update about trending packaging news

Reliance Retail to scale up business next fiscal

A research and management co Morgan Stanley estimates Reliance Retail to spur growth in business by 2026 at a compounded annual growth rate (CAGR) of 24%. Ebidta score rose by 30% during 2020-2023; and at a CAGR of 19%.

Pack-Man discovered that Reliance had invested USD 10 billion in the expansion of its retail business in India over the past two years. At the company’s 46th online-AGM, chairman Mukesh Ambani said, “India grows from a USD 2,500 to USD 10,000 per capita economy. Reliance Retail will be our fastest-growing business and Ebidta.”

Union minister Mandaviya propagates pharma and medtech sectors 

Mansukh Mandaviya, union health minister said that Rs 4,250 crores to be employed for pharma and medtech sectors to pursue research and development. He said, “In India, the average research spend is 8%, and it is important to push for research in the private sector to make the sector attractive for investments and innovations, and medicine development.

Pack-Man heard that the Health ministry will also allocate Rs 700 crores to establish seven Centres of Excellence across various National Institutes of Pharmaceutical, Education & Research (NIPER). 

Perfetti India is among top-five for the group’s presence worldwide

In a businessline interview, Rajesh Ramakrishnan, MD of Perfetti Van Melle India said, “India is the growth engine for their business, which has grown in double digits post Covid. Also, the company has improvised its premiumisation strategy.”

Perfetti India witnesses contribution of over 25%, over its previous 10%, to its portfolio sales from more than Rs 1-priced products. Pack-Man believes the company adapts to the consumers’ against-behaviour on market inflation and provides the right kind of value.

Tim Hortons will open 120 stores in India till 2026

The Canadian coffee brand Tim Hortons will expand its presence in India. The company looks forward to putting up outlets on city highways between cities such as Mumbai, Pune, Chandigarh.

Tarun Jain, CEO of Tim Hortons India, said, “One has to understand the market before entering, and we are now going into multiple cities and geographies which is exciting.”

Pack-Man brings out trivia of the brand. The brand that offers pin-wheel samosa, baida roti cigar rolls, and chicken makhani ravioli pasta.

Latest Poll

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Results

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Shortcomings in EPR policy

 

21.05%

Inadequate infrastructure

 

10.53%

Shortage of recycling firms

 

21.05%

Lack of consumer awareness

 

47.37%

Total Votes : 19

Events

Drupa 2024

May 28 - Jun 07 2024
The Drupa exhibition will be hosted....