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After around eight years of starting its India operations, Italian chocolate maker Ferrero has posted revenues of Rs 929 crore from September to March 2015. It was from August 2014 that the Kinder Joy maker had changed its accounting year. These profits have left behind Nestle's chocolate division, which posted revenue of Rs 1,110 crore from January to December 2015. 
 
On the other hand, Mondelez, which sells Cadbury chocolates and leads the chocolate segment, has annual revenues of over Rs 6,500 core. 
 Three years ago, Nestle's chocolate business in the country had three times more revenue than <keyword id="1647733" type="UNKNOWN" weightage="100" keywordseo="Ferrero-India">Ferrero India</keyword>. 
 
As per experts, it was because of diversification offered by Ferrero that this feat was possible to achieve. "Brands like Ferrero with no historic baggage has discovered and led the top down approach of premiumising through innovation versus old school thinking of focusing mainly on low priced products. Ferrero has shown that there is a large markeven at the top end," Devendra Chawla, president - FMCG and Brands at Future Group, told <a href="http://economictimes.indiatimes.com/industry/cons-products/food/ferrero-overtakes-nestle-in-india-chocolate-revenues/articleshow/53089798.cms">ET</a>. 
 
Another reason behind Ferrero’s success could be the huge amounts that it has invested or plans to invest in the country’s chocolate segment. As per latest regulatory filings, it will be investing Rs 375 crore here, while doubling its authorised capital to Rs 1500 crore. 
 
<a href="http://ferrerochocolates.com.au/assets/uploads/images/High_Resolution_GFR_landscape_large.jpg">Image source</a>

Ferrero India registers more revenues than Nestle

The <keyword id="44734" type="ORGANIZATION" weightage="20" keywordseo="Indian-Government">Indian Government</keyword>, after its successful ‘<a href="http://www.businessinsider.in/searchresult.cms?query=Make+in+India&amp;sortorder=effectivedate">Make in India</a>’ pitch, is now looking forward to boosting <a href="http://www.businessinsider.in/searchresult.cms?query=Foreign+Direct+Investment&amp;sortorder=effectivedate">Foreign Direct Investment</a> (FDI) in the country. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=Department+of+Industrial+Policy+and+Promotion&amp;sortorder=effectivedate">Department of Industrial Policy and Promotion</a> (<keyword id="6391107" type="ORGANIZATION" weightage="20" keywordseo="DIPP">DIPP</keyword>) with Invest India has shortlisted 150 companies as potential investors is meeting top management teams individually as it seeks to ensure that FDI inflows rise for the fourth straight year. 
 A team under Ramesh Abhishek, DIPP secretary, recently met <keyword id="1815313" type="ORGANIZATION" weightage="20" keywordseo="Fiat-Chrysler">Fiat Chrysler</keyword> COO Alfredo Altavilla in Italy to talk about the company’s concerns. Similarly, talks were initiated with Italian chocolatier <keyword id="463843" type="ORGANIZATION" weightage="20" keywordseo="Ferrero-Spa">Ferrero SpA</keyword>. The company has decided to set up a plant in China to cater to demand in Japan and Korea after its run-ins with the <keyword id="6376343" type="ORGANIZATION" weightage="20" keywordseo="Food-Safety-and-Standards-Authority-of-India">Food Safety and Standards Authority of India</keyword> (FSSAI). 
 
"Invest India has lined up investment of close to $40 billion and we are working to ensure all this flows into the country. The list includes <a href="http://www.businessinsider.in/searchresult.cms?query=Dalian+Wanda+Group&amp;sortorder=effectivedate">Dalian Wanda Group</a>, China's largest commercial property company and the world's largest cinema chain operator, which is looking to invest around $10 billion. Then there is Lotte, the conglomerate from <keyword id="5565" type="COUNTRY" weightage="20" keywordseo="South-Korea">South Korea</keyword>, which has evinced interest in development of railway stations and tourism," an officer told ET. 
 
Another set includes companies that had planned to invest India but didn’t do so due to the regulatory hurdles. In such cases, the department is seeking to get the government agency or the state concerned to address the problem, said officers working on implementing the new strategy. 
 For instance, a Chinese company was not getting safety clearance for a gas pipeline which was connected to its plant. The issue was sorted out soon after the government took up the issue with the <keyword id="411158" type="ORGANIZATION" weightage="20" keywordseo="Petroleum-and-Explosives-Safety-Organisation">Petroleum and Explosives Safety Organisation</keyword>. 
 
"Often the complaints are minor such as connectivity to the ports or VAT refunds and once the issue is taken up with the agency concerned, the problem is sorted out and investors feel comfortable to invest," said an officer. 
 
It has been confirmed by the sources that there is a mechanism to deal with complaints from Japanese companies and a fast-track system has also been put up for German firms. 
 
A new strategy, also referred to as Make in India 2.0 by some, is also aiming on a country specific pitch, focusing on medium scale enterprises. 
 
The new investment seeking techniques come along with the pitch made at global events where India's rapid growth and stable policies are being showcased. 
(image:Indiatimes)

FDI push: 150 foreign companies have been identified as potential investors

KitKat isn’t the choice of ‘sweet treat’ people in India are indulging in any longer. The ‘chocolate’ market in the country has gone through a sea change, which has left Nestle, the manufacturer of the brand KitKat and the leader in the market so far, rather worried. Rival <keyword id="401250" type="PERSON" weightage="60" keywordseo="Ferrero">Ferrero</keyword>’s little bundles of joy packed in toy shaped Kinder have grown rapidly in just 7 years after entering India. According to a news report by The Economic Times, the rising popularity of <keyword id="984503" type="PERSON" weightage="60" keywordseo="nutella">Nutella</keyword> chocolate-hazelnut spread, Ferrero Rocher chocolates, <keyword id="1647736" type="PERSON" weightage="60" keywordseo="Kinder-Joy">Kinder Joy</keyword> and Tic Tac breath mints among all segments of people has aided in shooting up Ferrero India's sales by 76% to Rs 1,014 crores in the year ended in August 2014. 
 
Though Nestle hasn’t declared annual segment-wise performance for 2014, but a company investor presentation shows a dip of 2.3% to Rs 830 crore in the January-September period proves the company is seeing red in its concrete Indian market. Nestle's chocolate division, which sells Kit-Kat and Munch among other brands, had revenues of Rs 1,286 crore in calendar 2013. 
 Moreover, <keyword id="6399124" type="CITY" weightage="80" keywordseo="Cadbury">Cadbury</keyword>’s lion’s share of the chocolate market has remained intact at 65%, Nestle with a market share of 16% is alarmingly losing ground to Ferrero’s 12% reign on the market. Experts have told the ET that this is largely because of the firm's differentiation strategy at a time when most consumers have been cutting discretionary spending, including on chocolates. 
 
"There is no slowdown for differentiated and innovative products as consumers always seek a better experience. All products of Ferrero are so differentiated that none of the rivals come close to their brands, be it Nutella, Kinder Joy or Rocher," said Devendra Chawla, president, food and FMCG business for Future Group, which runs retail chains and says it's Ferrero's largest buyer in India. 
 
"The company has capitalised the most on the India story of premiumisation without sacrificing on the quality or innovation funnel, which has translated into heady growth numbers." For instance, Tic Tac has made its way into stationery shops and not just conventional paan or kirana stores, while premium Rocher chocolate packs were available at small neighbourhood stores that usually stock low-priced items, although this strategy is changing now. The ET report says, the company has been withdrawing Ferrero Rocher from kirana stores because of inadequate storage facilities, especially in summer. 
 
The company's aggression is set to intensify - it has raised the borrowing limit to Rs 2,500 crore, signalling its intention to invest in distribution and manufacturing expansion. 
 
This comes as the Indian chocolates segment, which grew at a heady pace in the 2005-12 periods, has been flagging. The report by the financial daily reveals, there was an 8% slump in chocolate sales in November-December last year, much sharper than the 2% decline in September-October. 
 
As per the latest Euromonitor data, chocolates with toys recorded the fastest value growth of 28% in 2014, mainly due to the category's small base and rising popularity among children.Ferrero’s egg-sized kinder has earned a profit of Rs 12 lakh against a loss of Rs 195.92 crore in the year before. 
 
(Image: Reuters)

This relatively smaller company has seriously threatened Nestle’s empire in India

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Fast <keyword id="2842313" type="UNKNOWN" weightage="20" keywordseo="Expanding-Markets">Expanding Markets</keyword> (<keyword id="63066" type="ORGANIZATION" weightage="20" keywordseo="Fem">FEM</keyword>), as a new unit of measure, are micro economic indicators which demonstrate the health of a nano economy, based on an exponential acceleration, over a prolonged period of time. These indicators are often hidden in the nuances of macro economic and regression analysis, as we have been doing, in the good old way of thinking where business opportunities are located. It is by looking at our current society in India, that we remind ourselves that Indians traditionally and culturally are known to have a sweet tooth. In the festival of Diwali, probably the biggest festival in the Indian calendar, a long-standing tradition is one of exchanging mithai, the Hindi word for sweets. 
 
Globalization may mean macro changes and yet the micro changes may have macro effects. In more recent times, the traditional mithai shops have taken a hit; Indians seem to be showing a departure in taste palates in favour of the more modern, neatly packed chocolate boxes. These sugary delights especially packaged for Diwali are available anywhere, in the price range of USD 1.5 to USD 100 and more, form the affordable to for the affluent. 
 While <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> rates in India have taken a hit in the last three years, and the current budget demonstrates even more concern on the ability to stick to a growing curve, or at least maintaining curve. But while the GDP dilemma is keeping policy makers awake at night, there is one industry, relatively new in its current scale, which is booming, and the growth story is far from complete. 
 
To put things in perspective, the chocolate industry is growing at a rate of nearly 3x that of GDP. Such spiralling high growth rates lead us to believe that the chocolate industry may in fact be a good example of FEM. 
 
Outline India, a research start-up focusing on field data collection within the socio–economic domain, took on this study under their guidance to explore if this was indeed the case, and the result can be summarized in the below infographics. 
 
 
 
India’s current chocolate consumption pattern suggests very low per capita levels of around 1.2 owing to few traditional players and high import tariffs on import of chocolates. This however, leaves ample scope in terms of change in domestic production and consumption rates. To bolster this argument, India’s hot and humid climate is conducive to cocoa production, key to the chocolate industry. As of 2011, India is also the largest milk producer in the world. With the middle class growing, average incomes rising and information asymmetry levels going down, consumers are more aware than ever before, about available choices to them. With more cultural exposure and an urge to appear more western in terms of behaviour and at par with the international consumer, levels of chocolate consumptions are rising, especially among urban Indians. Also cited are health reasons that favour chocolates over the more the more traditional Indian sweets. A majority of these savouries, house a higher number of calories and shorter shelf lives. No longer is chocolate considered a ‘luxury item’ or one meant only for ‘special occasions’. 
 
In terms of what may prove to be a dampener? On the supply side, there have been numerous hurdles; the most important being bad connectivity and infrastructure. As a solution, a majority of the chocolate factories sprung up on the outskirts of big city centres, which were also best entry points for producers. A keen effort is being made to improve supply side channels to ease distribution. For instance, breaking away from the traditional supermarkets and discount stores, the big names such as Ferrero Rocher and Mars are trying to integrate into the lives of the upper middle class Indians by becoming available at the more accessible and approachable grocery stores. Local producers like <keyword id="29464" type="PERSON" weightage="20" keywordseo="Parle">Parle</keyword> and <keyword id="6357073" type="ORGANIZATION" weightage="20" keywordseo="ITC">ITC</keyword> with expansive distribution network are targeting the lower middle class as well, with a wider range of offerings via their pre-existing mom and pop stores or Kirana shops distribution networks. 
 
While the chocolate industry grows at 15% annually, projections put the expected market size at USD 2.8 billion by 2015 and USD 3.2 billion by 2018. 
Current market penetration rates are as low as 6 to 7 % at household level and about 22% in cities. This leaves scope for much change. 
 
One of the best known ad campaigns in the industry by Cadbury read, “Khane ke baad kuch mitha ho jaaye” which translates to Grab something sweet after a meal, only this time, the company was pitching a chocolate, breaking into and away from the traditional Indian household mindset which correlates sweet with mithai. The big guns are going the extra mile to suit the Indian consumer; <keyword id="75190" type="CITY" weightage="20" keywordseo="Nestle">Nestle</keyword> for instance launched a sweeter version of dark chocolate in India. Kraft is looking to invest USD 400 million for cocoa production in India in this decade. GDP may not be the brightest piece of headlines in these days, but while the macro arena gets engaged on issues of aggregate nature, there are small, powerful and fast moving markets, which are creating an entirely new “indian” concept of growth. 
 
((Dr. Amit Kapoor is President and CEO of <keyword id="2773756" type="UNKNOWN" weightage="20" keywordseo="India-Council-on-Competitiveness-and-Honorary">India Council on Competitiveness and Honorary</keyword> Chairman of Institute for Competitiveness, India. He tweets @kautiliya and can be contacted at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a>. The piece is co-authored with <keyword id="2842315" type="UNKNOWN" weightage="20" keywordseo="Mark-Esposito">Mark Esposito</keyword> and <keyword id="2842314" type="UNKNOWN" weightage="20" keywordseo="Terence-Tse">Terence Tse</keyword>)

Fast Expanding Markets in India

The <keyword id="175852" type="ORGANIZATION" weightage="80" keywordseo="Food-Safety-Standards-Authority-of-India">Food Safety &amp; Standards Authority of India</keyword> (FSSAI) has rejected applications by <keyword id="1397210" type="COMPANY" weightage="80" keywordseo="Tata-Starbucks">Tata Starbucks</keyword>, Ferrero, FieldFresh Foods, Kellog, Del Monte and McCain, who requested for product approvals. 
 
The national food regulator, FSSAI, pulled up these companies for trying to seek passage of their items using ‘Make in India’ platform and rejected their applications on account of assessment of risk or safety. 
 
The Economic Times reported the applications by Tata Starbucks that were disallowed include over 30 variants of puddings, sauces, mixes, syrups, tea and coffee. This was probably the single biggest set of product approvals request that was rejected by the FSSAI in one go. 
 
The regulatory also rejected McCain's battered pepper and cheese bites, Venky's chicken Arabic-style kofta and crispy chicken burger patty, including Kellogg's Special K-red berries, Del Monte's egg mayonnaise/salad dressing variants, natural vinegar and a proprietary hot sauce, and Ferrero Rocher's proprietary milky and cocoa spreads with cereals and milk chocolate. 
 
"Starbucks is committed to complying with the regulations in every market we operate in. In India, all of the products and ingredients that we serve are safe. FSSAI has not raised any questions on the safety of our products,” a Tata Starbucks spokesperson told ET in an email response. 
 
However, this is not the first time that Tata Starbucks had a problem with FSSAI. In April last year, the body blocked a consignment of syrups, which was released after the cafe chain moved the Bombay High Court for relief. 
 
The regulator said the companies were also trying to take advantage of ‘Make in India’ initiative. 
 
"Most food business operators, especially the aggrieved ones, appear to be swearing by the hon'ble PM's 'Make in India' initiative, conveniently forgetting that it is also accompanied by the words 'zero defect and zero effect'," FSSAI Chief Executive Officer YS Malik said in a an open letter to food &amp; beverage firms on May 11, which was posted on the website. 
 
It further read that the extent of unilateral condemnation of a sector regulator by the people whom it is meant to regulate has been unprecedented for some time in the past. 
 
A company official said that the decision could be challenged in the court but it is a long-drawn process. "We would not want to get into those issues. Product approval, as it is, is so slow that we end up losing the competitive edge despite thoroughly researching these products," the official told ET. 
 The FSSAI conducts tests of random samples and in the case of imported products and checks them at ports. ET reported the FSSAI official said in his letter that companies often find it convenient to draw parallels with the <keyword id="149107" type="ORGANIZATION" weightage="80" keywordseo="US-Food-Drug-Administration">US Food &amp; Drug Administration</keyword> or the EU regulatory system, "little realising that self-regulation is rather compelling in those economies, thanks to a very conscious and aware consumer base, coupled with an effective and responsive legal system". 
 
(Image: Indiatimes)

Were Starbucks, Kellogg, McCain trying to sell substandard food products in India? Find out

Days after Maggi fiasco, other food manufacturers like <keyword id="29464" type="PERSON" weightage="20" keywordseo="Parle">Parle</keyword>, KFC, Wendy’s and many others are being dragged into parallel issues by the consumers. A report circulated by the Economic Times suggests that the age-old biscuit maker Parle is receiving a minimum of 5 phone calls each day by its fuming customers. 
 
The calls, as mentioned in the report, are by and large about the contaminants being found in the food products. Not just this, but demands of compensation from Rs 5,000 to 5 lakh has also emerged as a matter of concern. What adds more to one’s surprise is the fact that some has also threatened the country’s largest food maker saying that if it doesn't cough up, they'll go to the media and even the regulator. 
 <keyword id="115414" type="PERSON" weightage="20" keywordseo="Ramesh-Chauhan">Ramesh Chauhan</keyword>, a member of the family that runs Parle and also the chairman of <keyword id="140687" type="COMPANY" weightage="20" keywordseo="Bisleri-International">Bisleri International</keyword>, said, "Consumers are panicking. Some are raising genuine issues, which is good. But some are taking advantage of the existing environment." 
 <keyword id="120094" type="PERSON" weightage="20" keywordseo="Mayank-Shah">Mayank Shah</keyword>, the company’s deputy marketing manager, also came-up to cover the matter. Shah said, "There are customers who are getting overtly concerned and some want to use the opportunity to make a quick buck." 
 Other food manufacturers like <keyword id="268892" type="COMPANY" weightage="20" keywordseo="Yum-Brands">Yum Brands</keyword>, Pepsi, Wendy's, Mondelez and Dabur too are facing similar issues and are fielding alike calls from consumers. 
 There have also been reports that some of the companies have used ‘Make in India’ platform to get their unregulated products passed by the <keyword id="109212" type="ORGANIZATION" weightage="20" keywordseo="Food-Safety">Food Safety</keyword> &amp; <keyword id="179673" type="ORGANIZATION" weightage="20" keywordseo="Standards-Authority-of-India">Standards Authority of India</keyword> (FSSAI). Those manufacturers who have made it to this list are: Tata Starbucks, Ferrero SpA, Field Fresh Foods, Kellogg's and McCain. 
 
Nadia Chauhan, a member of the Chauhan family and also the joint managing director Parle Agro, which has brands like Frooti and Appy, said, "Companies can only put themselves to ransom by panicking. Globally, no one would entertain such stuff because the awareness level is so high. As a company, you need to settle the matter but paying up is just out of the question."

Indian consumers might prefer to stay away from packaged food. Here is why

Considered the next big thing in men's tennis, <keyword id="84355" type="General" weightage="80" keywordseo="carlos" source="Orion">Carlos</keyword> <keyword id="4087806" type="General" weightage="100" keywordseo="alcaraz" source="Orion">Alcaraz</keyword> used his combination of determination and maturity to beat Casper <keyword id="13979994" type="General" weightage="80" keywordseo="ruud" source="Orion">Ruud</keyword> 6-4, 2-6, 7-6 (1), 6-3 in the U.S. Open final on Sunday to earn his first <keyword id="6465592" type="General" weightage="80" keywordseo="grand-slam" source="Orion">Grand Slam</keyword> title at age of 19 and become the youngest man to be ranked No. 1 in ATP rankings. The 19-year-old has become the youngest Grand Slam champion since countryman <keyword id="24244" type="General" weightage="50" keywordseo="rafael-nadal" source="Orion">Rafael Nadal</keyword>, 19, lifted the trophy at Roland Garros in 2005, while he is the youngest U.S. Open titlist since Pete Sampras, 19, in 1990. Alcaraz arrived at Flushing Meadows as the World No. 4. However, he leaves the hard-court major in the top spot, becoming the youngest player to rise to the top of the ATP Rankings (since 1973). Alcaraz has also equalled the biggest jump to No. 1, while he is the fourth Spaniard to climb to the top, joining coach Ferrero, Carlos Moya and Nadal. "It is something I have dreamt of since I was a kid. To be No. 1 in the world, to be champion of a Grand Slam, is something I have worked really, really hard for," Alcaraz said during the trophy ceremony. "It is tough to talk right now, I have lots of emotions. This is something I have tried to achieve. All the hard work I have done with my team and my family. I am just 19 years old, all the tough decisions have been with my parents and my team as well. It is something that is really special for me." Alcaraz won three consecutive five-set matches to reach his first Grand Slam final, spending 20 hours and 19 minutes on court across six matches en route to the final. However, he showed little sign of tiredness to defeat Ruud. "There is no time to be tired in the final rounds of a Grand Slam...You have to be ready and give everything you have inside. It is something I work really hard for," Alcaraz was quoted as saying by ATP. Alcaraz's opponent Casper Ruud also praised his game and said the tennis star is destined for greatness. Ruud stated, "He's one of these few rare talents that comes up every now and then in sports. That's what it seems like. Let's see how his career develops, but it's going all in the right direction." "Things have been going so well. Today was a special evening," Ruud said during the trophy ceremony. "Both Carlos and I knew what we were playing for and what was at stake. We will be No. 2 and No. 1 in the world tomorrow, I think it is fitting. I am disappointed of course that I am not No. 1, but No. 2 is not bad either. I am happy with that number and I will continue to chase for my first Grand Slam title and No. 1 ranking." SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/kodak-unveils-matrix-qled-tvs-in-india-starting-at-33999/articleshow/94155586.cms">Kodak unveils Matrix QLED TVs in India starting at ₹33,999</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/indias-squads-for-icc-mens-t20-world-cup-2022-australia-south-africa-t20is-announced/articleshow/94155638.cms">India's squads for ICC Men's T20 World Cup 2022, Australia, South Africa T20Is announced</a>

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Food and beverages players are meeting on December 31 to mull over the policy on stopping all <keyword id="3956193" type="UNKNOWN" weightage="100" keywordseo="Advertisements-of-food-products">advertisements of food products</keyword> catering to children younger than 12. This move can change the way some biggest players in the industry advertise their products. 
 
This move is planned is in line with a pledge by the Food and Beverage Alliance of India (FBAI) under the aegis of a global self-regulatory alliance of foods and beverage companies. 
 <keyword id="3956194" type="UNKNOWN" weightage="100" keywordseo="FBAI-members">FBAI members</keyword> include Coca-Cola, Pepsi-Co, Kellogg, Mars-Wrigley, Nestle, Ferrero, HUL and Mondelez India. 
 
“FBAI members will not engage in food or beverage marketing aimed at children in primary schools. The policy covers food and beverage product marketing communications that are primarily directed to children below 12 years of age, in all covered media. The association will publish periodic reports to demonstrate compliance with this policy. The policy will be applicable to all members by December 31, 2016.” according to the pledge. 
 
Mondelez India, which makes Cadbury Dairy Milk and Gems chocolates, said the company no longer advertises its products directly to children under 12, irrespective of nutritional profile. 
 
“This approach is global and applies to every market where we do business, including India. We continue to be actively involved and support local, regional and global marketing to children pledge programmes and other self-regulatory efforts,” a spokesperson told ET. 
 
“The FBAI Common Nutrition Criteria (CNC), which is the basis of the updated India Pledge signed on July 1, 2016, are a set of sciencebased guidelines developed in India that follow the work undertaken by the EU, Singapore, USA Pledge Groups and International Choices Programme. As per FBAI, signatory companies will not advertise products that do not meet the nutrition guidelines to children under the age of 12 years and this updated India pledge becomes effective from December 31, 2016,” a Nestle spokesperson said. 
 
At a global scale, foods makers have come under attack from health activists and governments for not doing enough to protect children from fat, sugar and salt-laden packaged foods. 
 
Coca-Cola has done away with the cartoon characters it used to promote orange fizzy drink Fanta. A company spokesperson said it has made a global commitment to market products responsibly. 
 
“As a result, we do not buy advertising directly targeted at audiences that are more than 35% children under the age of 12,” the person said. “Our commercial practices are aligned with business goals and we conform to a responsible marketing policy in every market we operate in,” he told ET. 
 
Mars-Wrigley, Ferrero and Kellogg have been working in recent months to alter their ads. “Kellogg India will abide by its global policy of responsible communication to children and ensure that the products offered to children will meet with the Kellogg Global Nutrient Criteria,” a spokesperson said. 
 
A spokesperson for confectionery maker Wrigley India, a unit of chocolate giant Mars Inc, said all advertising for Boomer gums, its largest brand in India, has moved away from targeting children in recent months. “We are doing the same for each of our other brands and new advertising for other brands will not be aimed at children,” the spokesperson said. 
 
(Image Credits: YouTube)

No more food and beverages ads aimed at children, here’s why

<ul class="summary-list"><li><keyword id="6355315" type="UNKNOWN" weightage="60" keywordseo="elon-musk">Elon Musk</keyword> is the second richest person in the world. He's currently valued at over $176 Billion.</li><li>Between April 2020 and April 2021 Elon Musk made $383,000,000 per day on average.</li><li>His current $176B worth could buy him 5,503,710 Tesla Model 3s.</li></ul>Following is a transcript of the <keyword id="21654" type="COMPANY" weightage="100" keywordseo="video">video</keyword>:This is a graph of Elon Musk's wealth to date. Every single day, this graph fluctuates, sometimes by <keyword id="1088725" type="PERSON" weightage="60" keywordseo="Billions">billions</keyword> of dollars. This point here, near the very bottom of the graph, is roughly $10 billion.That's the GDP of Malawi. This was three years ago. This is the market cap of Ford, the GDP of Puerto Rico, the market cap of McDonald's, Kazakhstan's GDP, and this, at the very top, that's $210 billion. That's the current GDP of Greece.That's every single thing that Greece produces in a year, one billion tons of tomatoes, 500 million tons of watermelons, all of their cheese, wheat, oil, the entire tourism industry, and every single other good and service across the country.But one thing this graph doesn't get across is just how fast this rise has been. Here's the same graph over a much longer period. Again, here's McDonald's, Ford, and Kazakhstan. Compare any of these to Elon Musk's line and you can see his growth is almost vertical. So let's take a closer look to find out what that growth means.So to get a better understanding of this graph, it really helps to know what this worth actually is. Musk's wealth is made up mostly of the stocks he owns, the majority of them in Tesla. In fact, if you draw a graph of Tesla's stock over the top of his wealth, you can see it's almost exactly the same.So this is just Tesla. For comparison, here are the two biggest car companies in the world, VW and Toyota. You can see see how out of balance this is with production. VW made eight million cars last year, Tesla made 500,000. Putting Musk's wealth back in the same scale, you can see the point where his personal wealth overtook VW in August last year, and briefly overtook the value of Toyota.This spike follows a similar trend to past bubbles. For comparison, here's the gold bubble of 1979, the Japanese housing crash, which the country has never recovered from, and the .com bubble in percentage increases. Here's Tesla. So let's go back to just Elon Musk's graph. Getting an exact figure on his worth is difficult, as his private wealth is, well, private, and everyone calculates their estimates slightly differently but to get an understanding of just how rich Elon Musk is, it helps to understand the value of a billion.Let's compare distance. Traveling one million miles would get Elon Musk 1/34 of the way to Mars, even at its closest point in orbit. One billion would get you there 29 times, but this is just one billion. Musk's current 176 billion in miles would be 5,104 trips.This is just April, 2020, to April, 2021. And over the course of this year, Elon Musk's wealth has gone from 30 billion to $172 billion. That's a rise of 383 million per day. This much, every single day for a year. Even when compared to the recent rapid growth of other US tech billionaires, like <keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> or <keyword id="191583" type="PERSON" weightage="60" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>, his wealth has really taken off in the last year.This specific section though is even more dramatic. This almost vertical line is a five-day period where Elon Musk suddenly became the richest person in the world as his wealth jumped by $39 billion. This amount alone would make him the 35th richest person in the world, just beating Giovanni Ferrero and family, the owners of Nutella.That one week of earnings could buy Musk the New York Yankees, the Dallas Cowboys, the LA Lakers, the Toronto Maple Leafs, Manchester United, and once he's run out of big sports teams to buy, enough Boeing 747s to start an airline. But that's just five days of growth.His total wealth would buy him a lot more. If Elon Musk was to cash in on this $172 billion worth, he could buy himself 5,030,710 Tesla Model 3s. That's more cars than exists in Sweden. Those cars, bumper to bumper, would take up so much space that they would stretch 11 kilometers long and four kilometers wide, enough to cover almost the whole of Manhattan.If he wanted to actually access the cars, he would need to also flatten a large area of New Jersey and Brooklyn to construct the world's largest car park. And if he didn't want to invest in Teslas, he could buy almost four million Bitcoins at $40,000 each, almost 20% of the world's supply, or if he wanted a less volatile investment, a 5.5 meter solid block of 24 karat gold. Gold is really expensive.And that $172 billion would be enough to buy him the world's third largest army, bigger than Russia and India's armies combined. But this isn't just a static number. If the trajectory of the last year was to continue, that would make Must a trillionaire in just five years.But with his current investments, that would mean that Tesla would likely have to be valued at over $3 trillion by that point. Another 10 years from now and Musk would hit two trillion, more <keyword id="6354840" type="UNKNOWN" weightage="60" keywordseo="money">money</keyword> than there is currency circulating in the US, and larger than the whole of the current FTSE 100.But for Musk to reach this incredible value, Tesla may have a problem keeping up with demand. To maintain this growth, Tesla is going to have to start building a lot of new cars, "20 million of them by 2030," according to Elon Musk, and 20 million cars are going to need a lot of batteries.It's predicted that EVs will need the equivalent of 225 billion iPhone 11 batteries by 2030. That's 100 times the amount of iPhones ever sold. These batteries need materials. Here's the estimated supply of lithium in the world, and here's what we're going to need to sustain this growth, which means in just five years time, this demand could completely outstrip supply.And soon after that, we could run out of lithium entirely. There are other questions around whether this growth is sustainable, not just feasibly, but ethically too.As the extreme wealth of Elon Musk and other billionaires has grown, and the income of the bottom 50% of Americans has shrunk, it's a problem that's hard not to raise. But there's another thing that could slow Elon's rapid growth in future, taxes. The highest marginal tax rate in the US is currently incredibly low, not just compared to other Western countries, but also compared to the US's recent history.And here's another interesting correlation. Here's a graph of Union Membership in America, the thing Musk broke labor laws tweeting about a few years ago according to the NLRB, but that's not important for now. Currently, the income disparity between billionaires like Musk and the bottom 50% of Americans is at a similar point to 1930. And that period led to a huge 40% income tax hike, followed shortly by another 13% hike, and another 20% increase during the war.And if taxes were to once again follow this trend, this inequality could be addressed before it gets even further out of hand. But with the current plan to raise the top tax rate by just 2.6%, this graph may not be changing for a while. Thanks for watching. Let us know in the comments if there are any other stories you want us to cover and make sure you subscribe for more <keyword id="6355729" type="ORGANIZATION" weightage="60" keywordseo="data">Data</keyword> on Data.

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