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The anchor bid for the asset put up for sale would translate into a recovery of around 54.5 per cent for the lender

Adani Wilmar Ltd (AWL), India's largest edible oil company, is adopting a strategy similar to ITC's by leveraging its core business and extensive distribution network to drive growth in its high-margin FMCG portfolio after the Adani group exit, according to sources.
Just as ITC used its strong cigarette business to expand into FMCG, AWL is set to use its dominant edible oil business as a foundation for FMCG growth.
Following the exit of the Adani Group, Wilmar may further capitalise on this approach by introducing more global FMCG brands into the Indian market, sources aware of the matter said.
In the December quarter, AWL's FMCG business achieved a 24 per cent year-on-year growth in volume, underscoring its efforts to expand both its food and FMCG product offerings. Consequently, the share of food and FMCG in overall volumes increased to 20 per cent, while its share in total revenues rose to 9 per cent, up from 10 per cent and 5 per cent, respectively, in FY21.
This shift mirrors 

Just as ITC used its strong cigarette business to expand into FMCG, AWL is set to use its dominant edible oil business as a foundation for FMCG growth

These systems can be deployed across various industries ranging from pharmaceuticals, and consumer goods to the automotive sector

India has become a very important hub. But it's not the only hub for us to innovate, given our width of solutions

Under the project, health facilities with about 5,000 bed capacity would be developed via private investment

At least two persons suffered minor injuries and over 15 houses were gutted in a fire in Manipur's Moreh town along the India-Myanmar border on Sunday, a defence statement said.
The fire erupted in Mission Veng locality of Moreh in Tengnoupal district, it said.
"Assam Rifles and Manipur Fire Services promptly and doused a massive fire that engulfed 15-20 houses in Mission Veng locality in Tengnoupal district," it said.
Two injured persons were evacuated and first-aid was administered, the statement added.
An investigation is underway to ascertain the cause of the fire, officials said.

"Assam Rifles and Manipur Fire Services promptly and doused a massive fire that engulfed 15-20 houses in Mission Veng locality in Tengnoupal district," it said

The upcoming annual budget for FY26 could announce further measures to boost employment generation, CII said on Sunday, emphasising that job creation at a mass scale is important to engage the young population productively, and drive inclusive growth in the world's most populous nation.
The industry body has suggested a seven-point agenda to harness India's demographic dividend, including an integrated national employment policy, support to labour-intensive sectors, and setting up an international mobility authority, among other targeted measures.
With a median age of just 29 years, India is a young country, and is set to add 133 million people to its working-age population by 2050.
The government could consider launching an internship programme in government offices in rural areas for the college-educated youth, CII said.
It argued that this initiative would create short-term employment opportunities in government offices while bridging the gap between education and professional .

It has proposed an integrated national employment policy which could subsume under its ambit the slew of employment generating schemes currently in works by various ministries/states

Apparel exporters body AEPC on Saturday urged the government to announce tax incentives, including removal of a provision requiring payments to MSMEs within 45 days to claim deductions and customs duty exemption on garment machinery imports.
The Apparel Export Promotion Council (AEPC) has also requested that an  interest equalization rate of 5 per cent be announced in the Budget, scheduled to be unveiled on February 1 by Finance Minister Nirmala Sitharaman.
Other demands include extension of concessional tax rate for new manufacturing units to encourage setting up of new garment units; simplification in the procedure of imports of trims and embellishments under IGCR (Import of Goods at Concessional Rate); and liberalizing e-commerce export procedures.
"Ready Made Garments (RMG) industry has also demanded removal of Sec43B (H) of IT Act in the ensuing Budget which pertains to payment to any MSME companies within a maximum 45 days' time to claim any deduction in tax. This has increase

The Apparel Export Promotion Council (AEPC) has also requested that an interest equalization rate of 5 per cent be announced in the Budget, scheduled to be unveiled on February 1

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

BS Views of the week: CUET, diesel rate, Russia boycott, and more

Business Standard's opinion pages this week focused on India-Japan relations, CUET, dual diesel rates, and much more.

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