Food delivery to reach Rs. 10 tn in 2030
Trade Promotion Council of India
Apex trade and investment promotion organization notified by the Department of Commerce, Government of India
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Dining out, food delivery market to reach Rs 10 tn by 2030
Online food delivery penetration has steadily increased, rising from 8% to 12% between 2019 and 2023, representing a 2.8 times growth rate compared to total food services, according to a report, titled ‘How India Eats'.
The report predicts a 10-12% annual growth rate over the next seven years, nearly doubling market size to a staggering Rs 9-10 trillion in 2030. India’s food service industry, which is currently valued at Rs 5.5 trillion, is poised for a decade of remarkable growth, according to the report by Swiggy and 贝恩公司 .
Agri trade on e-NAM platform surpasses Rs 18,990-crore in Q1
E-NAM, which integrates 1,389 mandis across 27 states, has seen significant growth in inter-mandi and inter-state trading of agricultural commodities, though from a low base. The platform serves 18 million farmers with a trading volume of Rs 3 trillion.
FACT OF THE DAY
IIT Madras has developed a universal battery charger for electric vehicles. This charger provides a wide range of voltage ranging from 120-900V from a universal input power supply which facilitates charging possibility for all EVs from a single charging unit – potentially eradicating different, dedicated chargers for various types of vehicles like two-wheelers, three-wheelers and also four-wheelers.
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QUOTE OF THE DAY
Bhashini is a pioneering GenAI platform under Digital India that aims to bridge the gap between India’s diverse languages by making information and communication accessible across different linguistic regions. In an interaction with India Business & Trade , Amitabh Nag , CEO, BHASHINI shares insights into Bhashini’s multifaceted role in promoting linguistic diversity and leveraging AI for societal betterment.
Additionally, Mr. Nag discussed the platform’s innovative strategies, including its integration of startup innovation and collaboration with government initiatives to enhance citizen services. Furthermore, he explained the impact of transitioning Bhashini to a paid service model on businesses and outlined its plans for future expansion, emphasising its vision for addressing emerging challenges and opportunities in India and globally.
Read about the excitiing developments and use cases on the Bhasini platform here
India's poverty rate has fallen to 8.5% from 21.2% in 2011-12
Poverty in India decreased from 21.2% in 2011-12 to 8.5% in 2022-24, as per the report "Rethinking Social Safety Nets in a Changing Society" by NCAER. The study, utilizing data from the India Human Development Survey, highlights the necessity for flexible social protection systems to address rapid economic and social transformations amidst the pandemic.
Investments in Real estate and infrastructure up by 67% in May 2024
India experienced a surge in private equity and venture capital investments in May 2024, with real estate and infrastructure leading the charge, increasing by 67% year-on-year to $2.5 billion in May 2024. The period also saw PE/VC exits grow to $2.5 billion across 23 deals, marking a 21% increase from the previous year.
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