This week, two major topics shaped India’s economy, rising inflation and the success story of Haldiram, a popular Indian snack brand. Let’s take a closer look at both.
India’s Inflation Struggles
Inflation in India went up slightly in February 2024, with retail inflation (measured by the Consumer Price Index) reaching 6.44%. This has raised concerns for both the government and everyday people, as the cost of living continues to rise.
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Food prices are rising: Food inflation increased to 5.81% from 5.43% in January, mainly due to higher prices of vegetables and pulses.
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Urban areas hit harder: Inflation in cities was 6.67%, compared to 6.20% in rural areas, showing that price increases are affecting urban areas more.
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Not just food and fuel: Even without food and fuel, core inflation went up to 6.1%, meaning that prices of other essential goods are also increasing.
Since the Reserve Bank of India (RBI) aims to keep inflation between 4-6%, these rising prices could lead to higher interest rates in the next policy review. The challenge is to control inflation without slowing down economic growth.
Read More: Competition Heats Up in India’s Job Market: Over 13,451 Apply for a Single Blinkit Job
Haldiram’s Impressive Growth
Despite inflation worries, Haldiram, one of India’s most loved snack brands, is growing rapidly. Known for products like Bikaneri Bhujia and Soan Papdi, the company is expanding in India and overseas.
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Revenue crosses $1 billion: In FY23, Haldiram’s earnings went over $1 billion, a major achievement for the family-run business.
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More stores coming: The brand plans to open over 100 new stores in India by the end of 2024, especially in smaller cities where demand is increasing.
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New, healthier snacks: To attract younger consumers, Haldiram is introducing sugar-free and low-calorie products, keeping up with health-conscious trends.
Haldiram’s success shows how understanding Indian tastes and maintaining product quality can help a business grow, even when the economy faces challenges.
Looking Ahead
As India struggles with inflation, businesses like Haldiram prove that smart strategies and strong customer loyalty can lead to success. For consumers, the key is to manage budgets wisely while prices remain high. Meanwhile, policymakers will have to find ways to control inflation without hurting economic progress.
