Flipkart's food retail plans, India's top donators, and more news

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Flipkart is entering food retail with a ?2,500 crore war chest, MoneyControl reports, citing sources. The Walmart-owned firm has registered a new entity called Flipkart Farmermart that will run farm-to-fork operations, including its own private label, a grocery supply chain, and even stores. The homegrown e-commerce major will bank on the expertise of parent Walmart, which already runs a wholesale business in India. Experts say grocery is one of the stickiest segments given its repeat purchase potential. Rival Amazon, which secured a food retail licence in July 2017, now procures and sells groceries here. ?Join the conversation.

HCL Technologies chairman Shiv Nadar is India’s most generous philanthropist, according to the EdelGive Hurun India Philanthropy List 2019. Nadar contributed ?826 crore in FY19, ahead of Wipro’s Azim Premji (?453 crore) and Reliance Industries’ Mukesh Ambani (?402 crore). Overall contributions nearly doubled to ?4,391 crore, split almost evenly between individuals and companies. Education continued to be the most favourite cause, followed by healthcare and rural development. What’s keeping India Inc from donating more? A fear of being linked to causes like civil liberties and a lack of impact measurement, says Edelgive Foundation. Join the conversation.

The government’s plan to privatise Air India has several hurdles to clear. First, around 120 Airbus A320 pilots have resigned due to discontent over salary and promotions. Second, oil marketing companies have threatened to cut fuel supply to the national carrier if it doesn’t clear ?5,000 crore in dues by October 18. Third, Air India’s largest union continues to oppose its sale and has warned of a “united struggle”. Finally, the finances are under pressure: FY19 net loss widened 57% to ?8,400 crore even as the airline struggles in the absence of any equity support from the government this year. ?Join the conversation.

This might be an opportune time for homebuyers, according to Knight Frank’s affordability index. Flats in Mumbai now cost 7.2 times a family’s annual income, down from 11x in 2010. Similarly, the figure has fallen from 6x to 5x for Delhi-NCR and 5.6x to 4x for Bengaluru. Experts put this down to multiple factors including price corrections due to stagnant sales, lower interest rates and smaller apartments. But the findings are at odds with a recent RBI report, which said affordability has worsened over the past four years. Join the conversation.

Lacklustre rural demand has dampened festive spirits at consumer goods companies. For Hindustan Unilever (the maker of brands such as Dove and Pears), volume growth stayed at a two-year-low in Q2FY19, with no turnaround in sight, Economic Times reports. Chairman Sanjiv Mehta said rural growth – earlier nearly double of that in cities – has decelerated to half of urban growth. A liquidity crunch among traders and flooding in various parts of the country has dented demand further. But there are some green shoots, such as the government’s focus on doubling farmer incomes and a good monsoon. Join the conversation.

Idea of the day: Former Westpac CEO David Morgan led the bank from 1999 to 2008 and says that figuring out what you’re good at in life might just be as important as determining what you love. 

“I’ve come to the conclusion that the only real failure in life is not to try. I think everybody’s good at something, and if people really try, they’ll almost certainly surprise themselves.”

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Mandar M Bakre, Dipti Jain and Shajil Kumar