Latest news with #DeloitteSouthAsia
Mint
25-05-2025
- Automotive
- Mint
E-buses under PM E-drive to be used now for intercity, tourist travel
Inter-city routes and tourist trails may open up for electric buses which are now confined to cities under a central scheme, two people familiar with the plans said. The ₹10,900-crore PM E-Drive scheme rolled out in September 2024 to expand city transport may soon be expanded for this purpose, the people said on the condition of anonymity. On Friday, the government allotted 10,900 buses under the scheme, which aims at a total of 14,028 buses. 'The allotment announced on 22 May will first be tendered, followed by demand generation and tendering of more electric buses to remaining cities," one of the two people cited above said. 'Then more buses will be deployed for intercity purposes, and for some tourist destinations, for instance, hilly areas." The plan to permit electric buses for intercity travel and tourism purposes will be implemented after the competitive bidding for all cities is completed, the officials mentioned above said. Also read | Govt rushes to find demand for electric trucks under PM E-Drive after bare FY25 Under the scheme, nine cities with over 40 million people are eligible to receive subsidized e-buses, including New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata, Ahmedabad, Surat and Pune. On 22 May, heavy industries minister H.D. Kumaraswamy said Bengaluru will get 4500 electric buses, Hyderabad 2,000, Delhi 2,800, Ahmedabad 1,000, and Surat 600, in the first phase. Tendering of the first phase of buses allotted on 22 May will begin in 4-6 weeks, the second official said. Competitive bidding for the supply of the first phase of buses allotted on 22 May will begin in 4-6 weeks, the second official said. Incentives for each bus sold Typically, the cost of an electric bus is approximately ₹1 crore. Under the PM E-drive scheme, the Centre is planning to dole out a ₹20-35 lakh incentive for every electric bus sold. The development assumes importance as nearly 40% of the scheme is set aside for the rollout of 14,028 electric buses till FY26. Transport-related emissions in cities and along highways currently account for 10-15% of the pollution in our cities, said Viral Thakker, partner & leader - sustainability & climate, Deloitte South Asia. Also read | ARAI likely to plan division of auto testing agencies allocation 'There are several advantages of using buses for intercity travel - a large and efficient network of buses can replace cars and provide alternative transportation options to passengers. Electric buses are also a good addition to tourism locations as India looks to develop a number of sustainable tourism destinations," said Thakker. Subsuming schemes The PM E-drive scheme, announced in September 2024, subsumed the Electric Mobility Promotion Scheme (EMPS), which ran from April 2024 to September 2024. The EMPS and PM E-drive scheme came after a decade of electric mobility incentivization under two iterations of the FAME scheme. FAME stands for Faster Adoption and Manufacturing of Electric (and Hybrid) vehicles. The PM E-drive scheme, set to run for two years till the end of FY26, marked a change in the focus of incentivisation of electric mobility, as it focused on incentivising public transportation to become electric, along with a focus on sunrise sectors such as electric trucks and ambulances. It also incentivised electric two-wheelers and three-wheelers. The scheme mandates manufacturers to provide electric vehicles to consumers at a lower price. The government then reimburses manufacturers. Also read | More than 6 lakh electric 2, 3-wheelers sold under PM E-Drive scheme since April While electric two- and three-wheelers under the scheme are given direct incentives on purchase, the procedure to incentivize electric buses is little more complex. First, the government gathered demand for electric buses from state governments. After this, it finalized allocation to each city mentioned in the scheme. The next step is to conduct competitive bidding for such buses, where state transport utilities would bid for such buses and secure them at affordable rates.
Time of India
24-05-2025
- Business
- Time of India
$8 billion and rising: How processed food exports can unlock growth for India in global food trade
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's agricultural exports reached $48 billion in FY24, solidifying its position as a major player in the global food trade. However, processed food exports , currently valued at $8 billion, offer significant headroom for growth, according to Deloitte & FICCI's latest report 'Spurring growth: Driving innovation and unlocking opportunities in the Indian food processing sector'.'There is potential to move up the value chain from primary commodities to value-added processed foods , which could be achieved by establishing Indian food products as a mainstream global phenomenon. Few opportunities to help enable this transition include scaling healthy Indian food products, such as millets and makhana; upgrading commodity value chains for highly exported products such as groundnut; and building strategic branding around globally trending products and India's GI-tagged products,' the report the report highlighted that processed food exports would also generate broader ecosystem benefits, including the reduction of post-harvest losses and the enhancement of employment opportunities and improved returns for farmers, all without the need for higher growth in the food processing industry, according to Anand Ramanathan, Partner & Consumer Industry Leader, Deloitte South Asia, can only come if the export market is looked at more conscientiously. 'Such exports will also help in more value addition, which one can use in the domestic market. Currently we are doing a very small percentage of exports, and most of it is for the Indian diaspora. We must start looking at the needs of the wider market and start exporting to them as well,' Ramanathan toldon the sidelines of the Ficci Foodworld India 2025 event held recently in the report sheds light on the contribution of the food processing sector, which accounts for 7.7% of India's total manufacturing GVA (gross value added) and plays a critical role in generating employment, fostering rural development, and enhancing value addition. With a valuation of about $160 billion, the sector reflects India's economic rise, marked by the country's rank as the fifth-largest economy and a doubling of per capita income to Rs 1.97 lakh over the past nine years, the report highlighted. It also noted how tier II and tier III cities are fast becoming engines of economic growth due to consumption trends aligning across urban and rural conducted a survey involving over 1,200 urban consumers to capture insights into prevailing behaviours, attitudes and the consumer trends gaining traction, protein has been highlighted as one of the strongest trends within the health food space. 'This growing awareness is leading to healthier dietary habits and a stronger focus on incorporating diverse protein sources into daily meals. According to the survey, 43% of urban respondents consider protein content very important, while 32% regard it as extremely important,' the report this, the report finds that Indian consumers are increasingly prioritising digestive health as a core component of overall wellness, leading to a surge in demand for processed foods that support gut health. Products enriched with probiotics and prebiotics—such as functional beverages, fortified dairy products and gut-friendly snacks—are witnessing growing report also highlights the rise of Indian superfoods , noting that millets are gaining popularity due to their impressive nutritional profile. 'Their low Glycemic Index (GI) makes them diabetic-friendly, helping to manage blood sugar levels effectively. The urban youth population is increasingly becoming health-conscious and shifting towards millet consumption. The growth in demand is evident in urban and semi-urban areas and is expected to continue rising through 2030,' it millets, the rise of Indian products such as(fox nuts) is also a reflection of the growing demand for healthy and nutritious snacks in India, the report said. 'Makhana, known for its low-calorie and high-nutrient profile, has seen a significant increase in popularity due to its health benefits and versatility. This trend is part of a broader movement towards healthier eating, driven by an increasingly health-conscious consumer base,' the report says consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food. 'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem. India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain. With the right focus, India's food processing industry can set the benchmark for inclusive, responsible growth in the global food economy.'The report suggests that companies may benefit from refining their strategies, with a greater focus on cost management and innovation to drive sector growth. 'Companies may look beyond operational improvements and explore initiatives, such as reformulation, packaging innovation and rapid prototyping of localised offerings. To stay competitive, large incumbents and emerging players may consider building structured, continuous innovation pipelines that respond swiftly to evolving consumer expectations. Collaboration between industry players, government bodies and academic institutions can further drive innovation,' it said.
India.com
22-05-2025
- Business
- India.com
How India's Food Processing Sector Is Leading Tier 2 And 3 Indian Cities To Becoming Engines Of Economic Growth
New Delhi: India's food processing sector is on a transformative growth path, and with consumption trends aligning across urban and rural India, tier 2 and 3 cities are fast becoming the engines of economic growth, according to a new report. The sector supports over 7 million jobs across the value chain, directly and indirectly, while enabling rural industrialisation and reducing post-harvest losses. According to the report by Deloitte and FICCI, the sector accounts for approximately 7.7 per cent of India's total manufacturing GVA (gross value added), and its critical role in generating employment, fostering rural development and enhancing value addition. The agriculture and food processing sector, representing nearly 30 per cent of the national food market, is gaining momentum due to rising rural demand, digital advancements and strong policy support. 'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem. Consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food,' said Anand Ramanathan, Partner and Consumer Industry Leader, Deloitte South Asia. India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain. The opportunity before us is not just to feed a billion, but to do so with purpose, resilience and intelligence, he added. 'India's food processing sector holds immense transformative potential, both as a driver of economic growth and as a catalyst for inclusive development. As evolving consumer preferences and health-conscious choices reshape food systems, the need for resilience, innovation and value addition has never been greater,' said Jyoti Vij, Director General, FICCI. In addition, India's record agricultural exports of $48.2 billion in FY24 and the global recognition of GI-tagged products highlight the sector's export potential and its growing role in the world food economy.
Time of India
21-05-2025
- Business
- Time of India
India's food processing sector powers jobs and growth, contributes 7.7% to manufacturing: Deloitte-FICCI Report
New Delhi: India's food processing sector is emerging as a key pillar of economic growth, contributing 7.7 per cent to the country's total manufacturing GVA and supporting over 7 million jobs across the value chain, according to a new Deloitte-FICCI report . Valued at USD 160 billion, the sector is enabling rural industrialisation and reducing post-harvest losses, while gaining momentum from rising rural demand, digital transformation, and policy support. As per the report, the agriculture and food processing value chain now accounts for nearly 30 per cent of the national food market. 'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem,' said Anand Ramanathan , Partner & Consumer Industry Leader, Deloitte South Asia. 'Consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food. India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain,' he added. The report highlights India's agricultural exports, which reached a record USD 48.2 billion in FY24, signalling strong global demand. Urban consumption patterns are also evolving, with nearly 50 per cent of food budgets now allocated to packaged and prepared foods. Meanwhile, rural FMCG volumes posted a 6 per cent growth in Q3 FY24, and Tier-2 and Tier-3 cities are becoming new engines of demand. 'India's food processing sector holds immense transformative potential, both as a driver of economic growth and as a catalyst for inclusive development,' said Jyoti Vij, Director General, FICCI. 'As evolving consumer preferences and health-conscious choices reshape food systems, the need for resilience, innovation and value addition has never been greater.' While the sector shows strong potential, the report said that supply chain inefficiencies continue to pose challenges. It calls for collaboration among policymakers, industry leaders and innovators to invest in smart technologies, build resilient supply chains, and scale health-forward offerings aligned with global consumption trends.
India Gazette
21-05-2025
- Business
- India Gazette
Half of food budget is spent on packaged foods by Urban Consumers: Report
New Delhi [India] May 21 (ANI): Urban consumers allocate nearly 50 per cent of their food budgets to packaged and prepared foods, giving a significant boost to the FMCG sector, said a recent Deloitte-FICCI report. The report further adds that the rural Fast-Moving Consumer Goods (FMCG) volumes experienced a 6 per cent growth in the third quarter of the financial year 2024 (Q3 FY24). 'Urban elites increasingly spend 50 per cent of their food budget on packaged foods, dining out and deliveries, while rural consumption is shifting from cereals to beverages and processed foods,' the report added. The agriculture and food processing sector, representing nearly 30 per cent of the national food market, is gaining momentum due to rising rural demand, digital advancements and strong policy support. The report adds that with a valuation of about USD 160 billion, the agriculture and food processing sector reflects India's economic rise, marked by the country's rank as the fifth-largest economy and a doubling of per capita income to Rs 1.97 lakh over the past nine years. With consumption trends aligning across urban and rural India, Tier-2 and Tier-3 cities are fast becoming engines of economic growth, the report said. Observing the trends, Anand Ramanathan, Partner & Consumer Industry Leader, Deloitte South Asia, said, 'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem. Consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food.' He added that India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain. 'The way forward lies in purposeful collaboration among policymakers, industry players and innovators to build resilient supply chains, empower farmers and entrepreneurs, and cater to a conscious, global consumer,' Ramanathan added. The report says that the premiumisation of products is also an emerging trend, with higher-income consumers driving growth through demand for quality, convenience and indulgence. There is also a rising curiosity around global cuisines and regional flavours, marking a convergence of heritage and innovation in consumer preferences. The Deloitte-FICCI report observed that global research and development (R&D) hubs and startups are reformulating products for Indian tastes, focusing on health-conscious features such as clean labels, protein enrichment and gut health. (ANI)
