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A recent proposal by India's food regulator to apply <keyword id="102432" type="UNKNOWN" weightage="100" keywordseo="Fat-Tax">fat tax</keyword>, i.e., tax on all packaged foods that contain high fat, sugar and salt content has upset companies and restaurants. The Food Safety and Standards Authority of India (<keyword id="154680" type="ORGANIZATION" weightage="100" keywordseo="FSSAI">FSSAI</keyword>) proposed this at a yet-to-be-decided rate. If implemented, the tax would be covering almost all processed food items, thus making companies worried about the extra charges they would have to pay. Also read: <a href="http://www.businessinsider.in/You-may-have-to-pay-an-extra-tax-for-eating-pizza-and-burgersafter-budget-if-PM-Modi-says-a-yes/articleshow/56736441.cms">You may have to pay an extra tax for eating pizza and burgers after budget, if PM Modi says a yes</a> "Like <a href="http://www.businessinsider.in/Excise-duty-in-cigarette-hiked-Tobacco-farmers-in-india-are-struggling-to-make-ends-meet/articleshow/56872791.cms">cigarettes</a>, consumers who want to consume such products will continue doing it in one form or another," said BK Rao, deputy marketing manager of <a href="http://www.businessinsider.in/Parle-is-now-focussing-on-premium-products/articleshow/58561971.cms">Parle</a> Products. "If implemented, prices will shoot up and manufacturers will pass it on to consumers. This might lead to some consumers refraining from the brand. However, when the mandate comes, we will fine tune it (reformulate the product) according to the law," he told <a href="http://economictimes.indiatimes.com/news/industry/cons-products/food/restaurants-and-companies-fret-over-proposed-fat-tax/articleshow/58617691.cms">ET</a>. The products that would attract such tax include deep fried Indian and western snacks; sweet, fatty and salty desserts and confectioneries; fast food like burgers, noodles; beverages like coffee and juices, and baby products. With this tax, <a href="http://www.businessinsider.in/Online-food-retailers-will-have-to-register-with-FSSAI-now/articleshow/51716970.cms">FSSAI</a> aims to reduce the rising number of diabetes, hypertension and cardiovascular patients, especially children. "We have shared the proposal with the ministry. Specific recommendations will require different ways of implementation, for example, on ban of advertising, consideration from the Ministry of Information &amp; Broadcasting," said Pawan Agarwal, CEO of FSSAI. "On some matters, we will ourselves take action." European countries like Denmark and Hungary already have fat tax on junk food, and was first implemented in India when the <a href="http://www.businessinsider.in/Keralas-fat-tax-causes-indigestion-to-multinational-food-brands-who-argue-traditional-items-are-fattier/articleshow/53151161.cms">Kerala government</a> proposed a 14.5% tax on burgers, pizzas and other junk food. However, the tax has also found some support. "We fully support FSSAI's work on promoting safe and nutritious food for Indian consumers," said an official spokesperson of Hindustan Unilever. "We have the responsibility to contribute to this cause both through our product formulation and product labelling to help consumers make informed choices."

‘Fat tax’ is making restaurants and companies worried sick

PM <keyword id="6354642" type="PERSON" weightage="100" keywordseo="Modi">Modi</keyword> has formed a group of secretaries consisting of 11 members who have been asked to recommend “imposition of additional taxes on foods with added sugar, salt and saturated fats.” 
 
Well, let’s explain it to you in a better way. There would be a very few people who can say no to <a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">burger</a>, <a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">pizza</a> or food that are cheese laden or some fries. Now these people may require to pay a tax popularly called ‘<keyword id="102432" type="UNKNOWN" weightage="20" keywordseo="Fat-Tax">fat tax</keyword>’. 
 
The reason is simple. 
 
The additional revenue from this Fat Tax on junk food would be added to the <a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">health budget</a>. This will help the government to increase budget in health sector, which is just 1.16% of the <a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">GDP</a> now. 
 
<a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">ALSO READ: Cigarettes to cost more?</a> 
 
The only thing that is deterring the government from finalizing the decision is a nod from the Prime Minister. However to believe the experts, this ‘fat tax’ may be finalized on the budget this year. 
 
However the term ‘<a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">junk food</a>’ term isn’t yet included under Food Safety and Standard Act as of now. 
 
Well intended 
The move is definitely well intended. That’s what the group feels like. Consumption of junk foods, rich in sugar, salt and started fat is one of the reasons why young India is suffering from several lifestyle ailments. And this move is meant to discourage people from eating too much junk food. 
 
<a href="http://www.businessinsider.in/your-air-travel-might-get-expensive-after-the-budget-speech-in-february-heres-why/articleshow/56647465.cms">ALSO READ: Air travels to get dearer?</a> 
 
Will this work? <keyword id="28504" type="CITY" weightage="20" keywordseo="Kerala">Kerala</keyword> has already introduced a similar tax in the state. So if you buy junk food, you would require to pay <a href="http://www.businessinsider.in/statutorywarning-cigarettes-to-cost-more-after-budget/articleshow/56726842.cms">14.5% </a>as fat tax. Restaurateurs say, while the government coffer is getting richer, the people are still making a beeline at the places that serve junk food.

You may have to pay an extra tax for eating pizza and burgers
after budget, if PM Modi says a yes

<a href="http://www1.businessinsider.in/searchresult.cms?query=food+companies&amp;sortorder=effectivedate">Multinational food companies</a> selling pizzas, burgers, pastas, etc are up in arms over <keyword id="73082" type="ORGANIZATION" weightage="20" keywordseo="Kerala-government">Kerala government</keyword>’s proposal to levy ‘<keyword id="102432" type="UNKNOWN" weightage="20" keywordseo="Fat-Tax">fat tax</keyword>’. 
 
The Kerala government, in its state <a href="http://www1.businessinsider.in/searchresult.cms?query=budget&amp;sortorder=effectivedate">budget</a>, proposed to slap 14.5 per cent ‘fat tax’ on junk food such as burgers, pizzas and doughnuts that are sold in high-end restaurants. 
 
To this, the companies say this is a tax on the multinationals and is not aimed at overall well-being of the state. 
 
They say traditional items such as sweets, pooris, butter dosas, etc are fattier and have been let off by Kerala FM Thomas Isaac. 
 
Even though Kerala is a small market for big food companies, it will still leave a dent on remaining chains also. 
 
"Anything in excess is unhealthy, which includes most traditional Indian savouries and sweets. Targetting a cuisine segment which is not more than 10% of Indian food consumption and taxing the organised sector is an easy scapegoat," National Restaurant Association of India (NRAI) Secretary Rahul Singh told ET. 
 
NRAI represents thousands of restaurants, including established names such as <a href="http://www1.businessinsider.in/searchresult.cms?query=pizza+hut&amp;sortorder=effectivedate">Pizza Hut</a>, <a href="http://www1.businessinsider.in/searchresult.cms?query=mc+donald%27s&amp;sortorder=effectivedate">McDonald's</a> and <a href="http://www1.businessinsider.in/searchresult.cms?query=dominos&amp;sortorder=effectivedate">Domino's</a>. 
 
"The tax clearly singles out multinational brands. What about local Indian brands - some of their products are that much more unhealthy and many do not follow basic hygiene standards," managing director of a leading American fast food brand in India told ET. 
 
Meanwhile, the multinationals are expected to pass on the tax to consumers, which will burn a hold in their pockets. 
 Unnat Varma, managing director at <keyword id="58553" type="COMPANY" weightage="20" keywordseo="Pizza-Hut">Pizza Hut</keyword>, termed the move as "business-unfriendly". 
 
Meanwhile, the Communist Kerala government also proposed a 5 per cent tax on certain packed foods such as maida and rava.

Kerala’s ‘fat tax’ causes indigestion to multinational food brands who argue traditional items are fattier

It isn’t only startups who are leaving Vigyan Bhawan with happy faces. <a href="http://www.businessinsider.in/searchresult.cms?query=Startup+investors">Startup investors</a> which include angel <keyword id="6359051" type="COMPANY" weightage="80" keywordseo="investors">investors</keyword>, venture capitalists have a wide smile on their faces. After all, PM Modi’s <a href="http://www.businessinsider.in/searchresult.cms?query=Startup+India">Startup India</a>, Standup India summit turned out to be a roaring success. 
 
“It’s a balanced approach. Not only looking at startups but also other stakeholders such as investors,” says Anil Joshi, managing partner, Unicorn India Ventures. 
 
He added that from an investor’s point of view, the fact that winding up of a startup could be done within 90 days is the cherry on the cake. “The USP of this event was the fact that as an investor, if a company is doing well, it’s a good news but if it doesn’t then, winding up becomes a tedious process. So, the fat that the government will now facilitate winding up within 90 days is a great news.” 
 
Apart from this, exempting Startups from <a href="http://www.businessinsider.in/searchresult.cms?query=Startup+India">Capital Gain Tax</a> is a huge step towards boosting the ecosystem. As far as the startup corpus is concerned, this would require a detailed action plan. We are sure, as we progress, the government will sort out all of these. 
 
Sharing a similar sentiment, angel investor Manish Vij, founder and CEO of SVG Media notes that for the first time a government has extended such extensive support to the entrepreneurs. “This event had brought India to the center stage of global startup ecosystem. The government's action plan will inculcate the desire to become entrepreneurs among our youth throughout the nation. The start action plan addresses a lot of pain points of entrepreneurs and really thank the government for the same,” he says. 
 
However, on being questioned on no clarity with regards to disbursal of startup corpus, he says, “Sure there is no clarity at this stage as the PM only briefly mentioned about fund of funds, however we should look at the positive intent. Of course we do hope that the action plan is implemented. 
 
Well, here’s hoping all the success to our dear startupreneurs! 
 
Image credit: Indiatimes

#StartupIndia:
Startups and investors are smiling their way out of Vigyan Bhawan!

<ul><li>In a bid to reduce the carbon footprint linked to animal farming, the mock meat category is gaining popularity in India, where 70% of the population is non-vegetarian.</li><li>As per trading firm Nirmal Bang’s report, India’s meat substitute market is estimated to be around ₹300 crore and ₹3500 crores in 3 years.</li><li>Climate change warriors are rooting for this category but nutritionists caution against it.</li></ul><keyword id="152806" type="General" weightage="20" keywordseo="butter-chicken" source="Orion">Butter chicken</keyword>, <keyword id="2174876" type="General" weightage="20" keywordseo="keema-pav" source="Orion">keema pav</keyword>, <keyword id="14426459" type="General" weightage="20" keywordseo="anda-burji" source="Orion">anda burji</keyword> but without anda or chicken and mutton, served as vegetarian items on a platter? It may sound like an anomaly but it’s now a reality, thanks to start-ups and even FMCG players. Apart from companies like GoodDots, Imagine Meats, Shaka Harry, Blue Tribe and Vegan Meri Jaan – FMCG major ITC too has launched products which offer ready-to-eat or ready-to-cook alternatives. The latest entrant is coffee company coffee brand Continental’s Greenbird. It offers chicken-like nuggets, seekh kebab, sausage and mutton-like keema. “Given the growing awareness of holistic wellness, sustainable living and widespread consumer acceptance in this area, India has the potential to emerge as one of the largest markets for plant-based products,” Praveen Jaipuriar, CEO, CCL Products told Business Insider India. Mock meat brands claim to mimic the taste and texture as mutton, chicken or fish but are made of soya bean, jackfruit, beans and wheat gluten. As per retail broking firm Nirmal Bang’s <a href="https://indiaobservers.com/indias-plant-based-meat-market-likely-to-touch-500-million-in-three-years/">report</a>, India’s meat substitute market is estimated to be around ₹300 crore and expected to touch ₹3500 crore per annum, in three years. <div type="image" title="087A5944" msid="92810518" hostid="261" caption="&amp;lt;p&amp;gt;Greenbird&amp;lt;/p&amp;gt;"></div> Tier II, III markets take a bigger bite Most plant-based companies are targeting meat-eaters, flexitarians who follow a vegetarian diet but occasionally eat meat, and former non-vegetarians who have quit meat to protect animals. According to the Food<a href="https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=India%20Emerges%20as%20a%20Burgeoning%20Market%20for%20Plant-based%20Meat%20Substitutes_Mumbai_India_05-03-2021.pdf"> and Agriculture Organization</a>, Indians consume soybeans, jackfruit, dairy, and pulses for protein. And <a href="https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=India%20Emerges%20as%20a%20Burgeoning%20Market%20for%20Plant-based%20Meat%20Substitutes_Mumbai_India_05-03-2021.pdf">almost </a>70% of Indians are non-vegetarian. <div type="image" title="087A5954" msid="92810570" hostid="261" caption="&amp;lt;p&amp;gt;Greenbird&amp;lt;/p&amp;gt;"></div> One of the oldest players in the market, GoodDot had run a nationwide mass-media <a href="https://www.businessinsider.in/advertising/brands/news/plant-based-meat-brand-gooddot-launches-a-campaign-featuring-neeraj-chopra-to-promote-the-message-of-doing-good/articleshow/89450919.cms">campaign </a>with Olympic champion Neeraj Chopra earlier this year who promoted <a href="https://www.businessinsider.in/advertising/brands/news/plant-based-meat-brand-gooddot-launches-a-campaign-featuring-neeraj-chopra-to-promote-the-message-of-doing-good/articleshow/89450919.cms">plant</a>-based meat over real meat. When GoodDot started in 2017, consumers had a lot of apprehensions but its founder Abhishek Sinha says that they are seeing good demand for their Unmutton Keema Kit, UnMutton Dhaba curry and biryani packs, in smaller towns and metros alike. “We believe that just like <keyword id="113418" type="General" weightage="20" keywordseo="paneer" source="Orion">paneer</keyword> became a constant feature in the menus of restaurants and hotels 25-30 years back, plant-based meat will be an integral part of restaurant menus in the next 3-4 years,” Sinha told Business Insider India. What’s on the sticker? Price is one of the biggest challenges in the mock meat market, just like most others in the ready-to-eat category. In some cases, they are priced higher than meat. ITC’s chicken burger patty of 550 grams is priced at ₹260, whereas its plant-based burger of 330 grams comes at ₹630. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plant-based Product </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quantity (Grams) </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price (₹) </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blue Tribe </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chicken nuggets </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">250 </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">295 </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chicken nuggets </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">250 </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">475 </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shakka Harry </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chicken nuggets </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">250 </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">249 </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Imagine Meats </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chicken nuggets </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500 </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">575 </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GoodDot </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chicken chunks </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">400 </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">299 </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Greenbird </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chicken nuggets </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">260 </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">295 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> While home-grown brands have been able to bring the price down, their plant-based products are still 10 times more expensive than meat. So, to further make a dent in the Indian <a href="https://www.statista.com/outlook/cmo/food/meat/india">meat </a>industry, mock meat brands will have to reduce the price gap. “Comparing the price of plant-based meat to that of traditional meat and vegetarian options, is somewhat more expensive, and there are not many manufacturers in India. But despite being a new category and a niche segment, it has enormous potential,” said Jaipuriar. GoodDot has been able to get an edge here. “The price range of our products is between ₹95 to ₹379. In terms of per kg cost, some of our products are more affordable than meat whereas some others are at par with meat,” said Sinha. However, now that <a href="https://www.businessinsider.in/finance/news/pre-packed-meats-curds-paneer-and-puffed-rice-will-now-attract-gst/articleshow/92533389.cms" data-type="tilCustomLink">a new tax</a> has been levied onto labelled meats, it might help reduce the gap between the two food categories. “Meat is an expensive product and is not a very frequent buy for many consumers. With the increasing cost of fodder and taxing of meat with GST, meat would become even more expensive. Plant-based meat products have been levied GST of 18 % since inception, so their prices have already factored in GST costs,” said Sinha. Processed meat is like eating 4 bhaturas It’s always a good idea to shift to a more humane approach, but is mock meat a healthier option? Jaipuriar claims that plant-based meats are more nutritious as they lack saturated fat and are high on fiber, antioxidants, vitamins, and minerals. Nutritionists feel otherwise. “There’s nothing healthy about plant-based meat. The maximum it can offer you is a look-alike, taste indulgence but minimum nutrition. It's hyper-processed, which means nutrition comes to an end, so it becomes very toxic. For the sake of saving a life, you're just putting your life at risk because you're consuming toxic chemicals and it’s not recommended,” Amit Srivastava, founder of nutraceutical community platform Nutrify Today told Business Insider India. To improve their nutritional profile, brands will have to up their budget and add in more amino acids, vitamins, minerals or medium-chain triglycerides. If they do that, their costs will shoot through the roof, and brands are already under stress to reduce prices. According to Srivastava, the technology has not succeeded from a nutrition point-of-view. Some of them may even <a href="https://www.healthline.com/nutrition/is-plant-based-meat-healthy#downsides">contain </a>extra sodium, saturated fats, preservatives, refined oils, modified cornstarch and added sugar. To convert a plant based source into something that simulates the taste of meats, it would need to add a lot of fat. Since most exist as fine powders, they are assimilated in no time and provide an instant amino acid release into the bloodstream. All in all, this ‘instant’ release might make people gain weight. According to Srivastava, those who consume plant-based meat for more than three months, will gain weight. “With real meat, it's the opposite effect. You tend to lose weight because the body has to burn a lot of energy to digest meat and protein-based mock meat is stored into the fat cells. If you eat four bhaturas, your body will have a very tough time going forward trying to take so much oil. It has the same impact with processed meat,” said Srivastava.

Butter chickenless, UnMutton keema — vegan meats hope to become the next ‘paneer’ but health concerns remain

<keyword id="6371470" type="LOCATION" weightage="20" keywordseo="alibaug">Alibaug</keyword>, <keyword id="143" type="LOCATION" weightage="20" keywordseo="Bollywood">Bollywood</keyword> actor <keyword id="383666" type="PERSON" weightage="20" keywordseo="Varun-Dhawan">Varun Dhawan</keyword> is getting married amid the Covid- 19 <keyword id="43587" type="ORGANIZATION" weightage="20" keywordseo="pandemic">pandemic</keyword>. Hence it is not surprising that as a precautionary measure, a Covid test has been made mandatory for all the guests entering the wedding arena. As the preparations have begun in full swing for the Bollywood actor's big fat wedding to be held later in the day, celebrity photographer Viral Bhayani informed in an Instagram post that "a mandatory Covid test was taken for everyone entering the wedding arena." Varun will tie the knot with his childhood sweetheart <keyword id="1594220" type="PERSON" weightage="20" keywordseo="Natasha-Dalal">Natasha Dalal</keyword> at 'The Mansion House' resort in Maharashtra's Alibaug on Sunday. Celebrities like filmmaker Karan Johar and fashion designer Manish Malhotra were clicked on their way to the wedding on Sunday. Malhotra has reportedly designed outfits for the Dhawan family for Varun's wedding. Varun Dhawan reportedly had a plan to get married last year but had to postpone the wedding because of the Covid-19 pandemic and lockdown. Reports claim that the couple was planning to tie the knot in Thailand's Khao Lak in 2020 which got postponed due to the pandemic and Alibaug has been selected as the wedding destination. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">Mrs Bectors shares are down 32% from the peak post listing — analysts say it is still 'overpriced'</a> <a href="https://www.businessinsider.in/budget/news/indias-co-working-sector-wants-recognition-under-real-estate-tax-benefits-as-flexible-workspaces-aim-for-a-significant-revival-in-the-post-covid-era/articleshow/80431768.cms">India’s co-working sector wants recognition under real estate, tax benefits as flexible workspaces aim for a significant revival in the post-COVID era</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-indian-railway-finance-corporation-irfc-ipo/articleshow/80406208.cms">Indian Railway Finance Corporation IPO allotment: Here’s how to check share allotment status</a>

Covid-19 test mandatory for guests attending Varun Dhawan's wedding

New Delhi, Jul 15 () Over a century after making its first soap in 1918 during the Spanish flu pandemic, becoming the first company in the world to produce soap using vegetable oil instead of animal fat, Godrej Consumer Products Ltd (GCPL) is looking at 2020 as its 'second beginning', according to the company's executive chairperson Nisaba Godrej. Addressing shareholders in the company's annual report for 2019-20, Godrej described COVID-19 pandemic as "a health, humanitarian and economic crisis of epic proportions to contend with" for which the company would "need to do more of what we do and do it even better". Stressing that the company will not be deterred by the current crisis, she said, "Godrej was founded in a crisis; as part of India's freedom and swadeshi movement in 1897, and also during the bubonic plague that year." "We first made soap in 1918 (also the first soap in the world to be made from vegetable oil and not animal fat) during the Spanish flu pandemic. So, as we see it, 2020 could be our 'second beginning' for the next 123 years of Godrej." Reiterating the company's resolve Godrej said, "While we don't get to choose market conditions or the intensity of our competitors, and certainly not a global pandemic, we do choose our attitude in the face of these." She said "there is no denying that this is a bad situation. But, we are also fortunate that GCPL is an FMCG company with a robust portfolio to deliver in a COVID-19 world." 80 per cent of the company's product portfolio comprises health (household insecticides), hygiene, and value for money products, Godrej said, adding that "many of our innovations have started playing out fully in the last couple of months and we have seen high growth in household insecticides and hygiene." Admitting that the company's performance in 2019-20 "was not good", she said sales declined around 4 per cent and profit before tax (pre-exceptions) was flat. March 2020 was particularly impacted by the spread of the COVID-19 pandemic and the eventual lockdown in many geographies where the company operates. This resulted in virtually no sales in the latter part of the month, she added. In order to overcome the challenge of the current health crisis, she said, "The excellence we will require now, going against water rather than with water, to perform and take market share, means a significant step up in ways we probably haven't even realised yet." Godrej said 2020 will be the "Year of Resurgence" for GCPL's household insecticides business. "This is our largest and most critical category globally. We are going where the consumer demand is and the demand is to protect their health. We see this as a long-term area of focus," she added. Although the company struggled initially to meet demand, which has been very strong in the last couple of months, Godrej said, "We are scaling up our supply systems and have never had stronger portfolios across price points and formats, in India and Indonesia, to serve this." The company is also making a foray into this category in Africa, where it is still underserved, she added. In response to COVID-19, GCPL had launched sanitiser products across India and SAARC, Indonesia, Africa, Latin America, and US in just a few weeks. "In many of these markets, it was the first time we were entering the category. We will now be scaling these up into full portfolios with multiple product offerings," she said. Stating that India and Indonesia make up roughly 70 per cent of the company's overall business, she said, "There are significant opportunities for growth here, especially given the current consumer demand trends, and we are well poised to leverage this." Godrej also said GCPL has "big dreams" for Africa, one of its largest investments outside India, although its performance over the last few years there has not been up to the mark. "Africa has a young, fast-growing, urbanising population with growing aspirations. There is much to yet start unearthing as infrastructure, industrialisation and digital leapfrog. We see tremendous opportunity here, to innovate and grow sustainably both in hair care and household insecticides, while also 'doing good'," she said. RKL RVK

Godrej Consumer sees 2020 as 'second beginning' for co

The world is going crazy over the <a href="http://www.businessinsider.in/One-of-the-largest-data-leaks-in-history-reveals-how-world-leaders-and-aides-hide-their-cash/articleshow/51676270.cms">Panama paper leaks</a>. The massive leak of over 11 million tax documents has exposed where world leaders, Indian bigwigs, sporting personalities, etc hide their assets. 
 
This is one of the largest leaks in the history, which also disclosed names such as Amitabh Bachchan, Aishwarya Rai, KP Singh, etc. 
 
READ ALSO: <a href="http://www.businessinsider.in/Panama-Papers-List-Here-are-the-names-of-powerful-Indians-who-have-hidden-assets/articleshow/51679110.cms">Panama Papers List: Here are the names of powerful Indians who have hidden assets</a> 
 
The documents, from around 214,000 offshore entities covering almost 40 years, came from Mossack Fonseca, a Panama-based law firm with offices in more than 35 countries. 
 
READ ALSO: <a href="http://www.businessinsider.in/The-13-tax-havens-where-rich-Indians-stash-their-money/articleshow/51210104.cms">The 13 tax havens where rich Indians stash their money</a> 
 
The news has already spread like wildfire and now people are sharing the news on social networking sites, saying that the mighty and powerful can get away with any wrongdoings. 
 
But, making light of this extremely grave matter are the Twitterati, who are taking a dig at people who have been named and unnamed. 
 
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/hashtag/VijayMallya?src=hash">#VijayMallya</a> after hearing about <a href="https://twitter.com/hashtag/panamapapers?src=hash">#panamapapers</a> leak ! <a href="https://t.co/rrcaJEw3kf">pic.twitter.com/rrcaJEw3kf</a>
	— Gandalf the Fat (@TheDesiJedi) <a href="https://twitter.com/TheDesiJedi/status/716883974090395648">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Only Amitabh Bachchan and Aishwarya? Good to know that Abhishek Bachchan is poor like us to not feature in the <a href="https://twitter.com/hashtag/panamapapers?src=hash">#panamapapers</a> .
	— Trendulkar (@Trendulkar) <a href="https://twitter.com/Trendulkar/status/716880512225153026">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/hashtag/panamapapers?src=hash">#panamapapers</a> r like statistics which means they r like miniskirts, what they reveal is suggestive what they conceal is vital!
	— Archie (@leavingliph) <a href="https://twitter.com/leavingliph/status/716880330695651328">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Odd, given that we in India only attack politicians for corruption, that there are so few on this <a href="https://twitter.com/hashtag/PanamaPapers?src=hash">#PanamaPapers</a> list so far, eh?
	— Mihir Sharma (@mihirssharma) <a href="https://twitter.com/mihirssharma/status/716856105486299137">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		No one from US implicated in <a href="https://twitter.com/hashtag/panamapapers?src=hash">#panamapapers</a> <a href="https://t.co/KxUPuY3Vsp">pic.twitter.com/KxUPuY3Vsp</a>
	— JS Pritchard (@Jonaldo14) <a href="https://twitter.com/Jonaldo14/status/716769261256105985">April 3, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Mummy, aapne humare saare paise bathroom mein hi rakhe hain na ?? <a href="https://twitter.com/hashtag/panamapapers?src=hash">#panamapapers</a> <a href="https://twitter.com/hashtag/RahulGandhi?src=hash">#RahulGandhi</a> <a href="https://twitter.com/hashtag/Panama?src=hash">#Panama</a> <a href="https://t.co/5cLnS4MUCd">pic.twitter.com/5cLnS4MUCd</a>
	— Gandalf the Fat (@TheDesiJedi) <a href="https://twitter.com/TheDesiJedi/status/716891022530220032">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Panama in the South <a href="https://twitter.com/hashtag/PanamaPapers?src=hash">#PanamaPapers</a> <a href="https://t.co/A79CnOR8MX">pic.twitter.com/A79CnOR8MX</a>
	— Broken Anda (@moronhumor) <a href="https://twitter.com/moronhumor/status/716879026678210562">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Manager of Offshore firm Consoling A Rai as she burst into tear after her name was mentioned in <a href="https://twitter.com/hashtag/panamapapers?src=hash">#panamapapers</a>.(2016) <a href="https://t.co/ESnm8eG8SL">pic.twitter.com/ESnm8eG8SL</a>
	— History of India (@RealHistoryPic) <a href="https://twitter.com/RealHistoryPic/status/716894964790091776">April 4, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Mauka Mauka guy finally bursts crackers after finding more Pakistani politicians than Indians in <a href="https://twitter.com/hashtag/PanamaPapers?src=hash">#PanamaPapers</a> <a href="https://t.co/WB4leMhUKm">https://t.co/WB4leMhUKm</a>
	— Faking News (@fakingnews) <a href="https://twitter.com/fakingnews/status/716904808859504640">April 4, 2016</a></blockquote>
 
 
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		It is so difficult to be a <a href="https://twitter.com/hashtag/billionaire?src=hash">#billionaire</a> <a href="https://twitter.com/hashtag/PanamaLeaks?src=hash">#PanamaLeaks</a>"
	— Birendra Amatya (@bkamatya) <a href="https://twitter.com/bkamatya/status/716913022237802496">April 4, 2016</a></blockquote>
 
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Paa back in theatres, now with the real story tax free. <a href="https://twitter.com/hashtag/PaaSpoof?src=hash">#PaaSpoof</a> <a href="https://twitter.com/hashtag/PanamaPapers?src=hash">#PanamaPapers</a> <a href="https://t.co/bb9vR5KYPa">pic.twitter.com/bb9vR5KYPa</a>
	— Arré (@ArreTweets) <a href="https://twitter.com/ArreTweets/status/716919725004029952">April 4, 2016</a></blockquote>

Twitter also has a take on the Panama Leaks and it is a funny one

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Scott Olson/Getty Images</div></div></div><ul><li>Bank of America Merrill Lynch sees the tech industry facing some considerable headwinds going forward, and thinks investors should reduce exposure to the sector.</li><li>Michael Hartnett, the firm's chief investment strategist, provides 10 reasons why.</li></ul>They say all good things must come to an end. And a version of that is playing out in the <a href="http://www.businessinsider.com/category/stock-market" target="_blank" rel="noopener">stock market</a> as the once invincible <a href="http://www.businessinsider.com/category/tech-stocks" target="_blank" rel="noopener">tech sector</a> suddenly looks vulnerable.That's according to <a href="http://www.businessinsider.com/category/bank-of-america-merrill-lynch" target="_blank" rel="noopener">Bank of America Merrill Lynch</a>, which says global investors should be looking to cut back their allocations to tech.From a broad industry perspective, tech's growth, power, and visibility make it "extremely vulnerable to increased regulation and taxation, most especially if recession wrecks government finances," the firm's chief investment strategist, Michael Hartnett, wrote in a recent note to clients.And while he's not yet calling for a full market collapse, Hartnett also forecasts some pain stemming from a "<a href="http://www.businessinsider.com/stock-market-outlook-full-bull-detox-coming-baml-says-2018-4" target="_blank" rel="noopener">full bull detox</a>," or a reversal of the risk-seeking behavior that has characterized it for so long. It's all part of what he sees as a major shift occurring in markets. And for tech specifically, he sees 10 major headwinds facing the industry that he says should prompt traders to scale back exposure. Here they are (all quotes attributable to Hartnett):<ol><li>Excess returns and high valuations - "US tech is best performing sector in QE era, up annualized 20%; ex-tech the S&amp;P 500 would be 2,000 not 2,600 today." Put simply, Hartnett is arguing tech has peaked, and has nowhere to go but down.</li><li>"Bubbly" prices - "US internet commerce stocks soared 624% in 7 years at their peak, 3rd largest bubble of past 40 years." <div class="KonaFilter image-container display-table"><div><div class="image on-image">Bank of America Merrill Lynch</div></div></div> </li><li>"Fat" market caps - "US tech market cap ($6.4tn) exceeds that of Eurozone ($5.0tn); FAAMG+BAT market cap of $4.9tn exceeds Emerging Markets ($4.6tn ex-BAT); Facebook's (25k employees) market cap &gt; MSCI India (1.3bn people)."</li><li>Earnings hubris - "Tech &amp; ecommerce companies currently account for almost 1/4 of US EPS; this level that is rarely exceeded, and often associated with bubble peaks." <div class="KonaFilter image-container display-table"><div><div class="image on-image">Bank of America Merrill Lynch</div></div></div> </li><li>Politics - "Privacy becoming policy issue as equivalent to entire global population searches Google every 2 days; last year 1579 "data breaches" exposed 179 million records of personal names plus financial or medical data; pending US &amp; EU regulation threaten 4% of tech revenue."</li><li>Wage disruption - "IMF says 50% of the decline in labor's share of income is attributable to technology (25% due to globalization); number of global industrial robots by 2020 will be 3.1 million (was 1 million in 2010)."</li><li>Tech is cash-rich, tax-light - "Sector has $740bn of cash overseas (larger than all other sectors put together ($510bn); effective rate of tax on US tech companies is 16.9%, lower than the 19.3% paid across the S&amp;P 500." Hartnett's argument is that this makes them more vulnerable, should these advantages dissipate.</li><li>Tech is the most lightly regulated sector - "Just 27K regulations for tech; by comparison manufacturing regulated by 215K rules, financial sector by 128K." <div class="KonaFilter image-container display-table"><div><div class="image on-image">Bank of America Merrill Lynch</div></div></div> </li><li>Tech is particularly exposed to trade developments - "US tech has highest foreign sales exposure (58%) of all US sectors."</li><li>"Occupy Silicon Valley" - "Tobacco (1992), financial (2010), biotech (2015) industries illustrate how waves of regulation can lead to investment underperformance."</li></ol><div class="KonaFilter image-container display-table"><div><div class="image on-image">Bank of America Merrill Lynch</div></div></div>Get the latest Bank of America stock price<a href="http://markets.businessinsider.com/stock/BAC-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/wall-street-bull-explains-trade-war-trade-war-fears-overblown-2018-4">Wall Street's biggest bull explains why trade war fears are way overblown</a></h3> <div> </div> </div>

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Twitter also has a take on the Panama Leaks and it is a funny one

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