The government will soon launch an umbrella programme 'SAMPADA' for food processing sector with Rs 6,000 crore outlay to integrate current and new schemes aimed at reducing food wastage and doubling farmers' income.
The current correction in India's startup ecosystem has been caused due to indiscriminate hiring which created a fixed cost problem for startups
These cold chain stores will be a part of the national cold chain grid being created to transfer perishable goods like fruits and vegetables, fish, meat and ready-to-eat-meals, from farm areas to consumers without spoilage.
The government had last year allowed 100 per cent FDI for marketing, including through e-commerce, of food products manufactured and produced in India.
According to a company official, foreign investment of Rs 100 crore is sought to be put in by existing investors, including an overseas venture capital fund.
Biyani‘s views were echoed by several other members of the Retailers Association of India at a press conference on Thursday to discuss the e-commerce model.
Spencers retail sector head Shashwat Goenka indicated that the company was still evaluating whether Spencer's to go on its own, tying up with the hyper local stratups to overcome the logistics challenges or a mix of both.
Kishore Biyani's two daughters Ashni and Avni too have followed their father's footsteps and are genNext entrepreneurs of repute lording over the company's food and fashion verticals. They like the digital space and are burning the midnight oil observing consumer behaviour in this space.