WestBridge closes in on Milky Mist funding at Rs 7000 cr valuation
India-focussed investment fund WestBridge Capital is in the final stage of closing a deal to acquire a minority stake worth Rs 800 crore in Tamil Nadu-based dairy products brand Milky Mist. Deal Details: WestBridge is likely to have valued the company at about Rs 7,000 crore, three people in the know told us. The fund which manages…
Amul, Nandini, Aavin… and politicisation of milk cooperatives
In a country where cows are worshipped, the White Revolution is a forgotten spectacle. When Gujarat-born Amul, perceived to have been mollycoddled by the grand old party aeons ago but now backed by double-engine governments, makes a beeline for Karnataka, political parties are caught in the crossfire of canards. It is a perfect turf for…
Aavin plans schemes to bring down milk production cost
Dairy, which has been a second source of income for thousands of rural farmers in the state, faced an unprecedented situation in 2022-23. A section of dairy farmers associated with Aavin diverted their produce to private milk companies for a higher price. As a result, Aavin’s milk procurement declined by eight to nine lakh litres…
Beyond Nandini-Amul debate, dairying is an uphill task for many
If Nanje Gowda, a farmer at Kirugavulu in Mandya district, has sold off all three cows and stopped dairy farming in the last two years, his friends Nanjunde Gowda and Nage Gowda have reduced the number of cows as the rising cost of feed and fodder, coupled with an unattractive remuneration, has hit the dairy…
Nova Dairy Becomes the Only Carbon-Positive Dairy Company
Sterling Agro Industries Ltd.’s flagship dairy brand, Nova Dairy, is now the only dairy business in India that has a positive carbon footprint. The company’s production of electricity through wind and solar energy, helps combat the carbon dioxide and carbon monoxide released into the environment by cattle, has helped the company reach this milestone. At…
Anicut invests in D2C milk delivery startup Uzhavarbumi
Direct to consumer milk delivery startup Uzhavarbumi has secured an investment of Rs 7 crore from Anicut Capital. The proceeds will be deployed towards technology infra, improving plant and machinery equipment, hiring and expanding its operation across Bengaluru and Hyderabad, Uzhavarbumi said in a press release. Founded by Vetrivel Palani, Uzhavarbumi promotes direct commerce between…
The Significance of Dairy Industry in India’s Economic Development
India’s dairy industry has played a crucial role in the country’s economic development. This sector has also demonstrated an important part in achieving food security, reducing poverty, generating employment opportunities, and providing a regular source of income for rural households. Moreover, in developing economies, like India, landless and poor farmers are actively involved in dairying…
Meet Kishore Indukuri, who earns Rs 17 lakh per day selling milk
Kishore Indukuri’s story is inspirational. He was an Intel employee in the United States with a hefty salary package. He left his comfortable life in America, returned to rural India and built a massive dairy business. Sid Dairy Farm in Hyderabad is the among the city’s best. Kishore Indukuri was born in a middle-class household…
Subvention schemes need better targeting in livestock sector
Two sectors that gained traction in rural India in the last five decades are dairy and microfinance. Both involved the latent power of women in the rural areas. About 2 crore people depend upon livestock for their livelihoods; it contributed 16% to the income of small farm households and an average of 14% for all…
Narayan Majumdar -Milkman of the east rearing a Red cow
In 1975, a farmer’s 17-year-old son from West Bengal earned Rs3 a day selling milk at a booth on the campus of the National Dairy Research Institute (NDRI) in Karnal, Haryana. Narayan Majumdar worked part-time to fund his education. Twenty years later, when he founded his dairy company, he went door-to-door on his bicycle in…