Top Business Headlines: Budget 2025, Renee Cosmetics, Gensol's Solar Push & More!
Your daily dose of financial news in a minute plus expert advisor views.
🗞️Budget 2025: Agriculture Sector Targets 4% Growth
Agriculture Minister Shivraj Singh Chouhan has reviewed flagship schemes like PM-KISAN and Pradhan Mantri Fasal Bima Yojana with state officials. The Centre’s six-point strategy, focusing on research and high-yield seed varieties, aims for a 3.5-4% sectoral growth in FY25.
Expert Take: “We must accelerate efforts at the state level to sustain growth,” said Chouhan.
🗞️Renee Cosmetics Targets ₹400 Crore Topline in FY25
India’s $20 billion beauty market is fueling Renee Cosmetics' growth, with an annual industry rate of 10-11%. Co-founder Ashutosh Valani highlighted the company’s brand-building investments and offline expansion as pivotal for FY24’s foundation.
Expert Take: “Our spending was geared towards marketing and building offline channels,” said Valani.
🗞️Gensol Engineering Bags ₹1061.97 Cr Solar EPC Project
Gensol Engineering secured a 275MW Solar PV project contract in Khavda Rann of Kutch. This order includes three years of operations and maintenance and reinforces its position as a leader in renewable energy projects.
Expert Take: “This partnership is a milestone in our journey,” said Shilpa Urhekar, CEO, Solar EPC at Gensol.
🗞️Accel: Challenges for New Startups in Crowded Markets
Accel partners Anand Daniel and Shekhar Kirani shared insights on their $650 million fund, highlighting challenges for new founders due to saturated markets and evolving opportunities in SaaS and AI sectors.
Expert Take: “Winning in crowded categories demands strategic innovation,” said Daniel.
🗞️Tekion Expands Bengaluru Presence with New Office
Tekion, an automotive software platform, plans to increase its headcount by 300+ to boost AI-driven innovation in automotive retail.
Expert Take: “We aim to transform legacy business processes through AI and cutting-edge technology,” said Binu Mathew, CTO of Tekion.
🗞️HUL in Talks to Acquire Minimalist for ₹3,000 Crore
Hindustan Unilever is reportedly negotiating with Minimalist, a skincare startup, three years after its ₹110 crore funding round from Unilever Ventures.