India’s food services sector is on track to reach a whopping ₹7.76 lakh crore by FY28, according to the National Restaurant Association of India (NRAI). This growth comes after the sector faced a setback during the COVID-19 pandemic, shrinking to ₹2 lakh crore in FY21 from ₹4.24 lakh crore in FY20.
In other news, Cognizant has paid ₹4 crore to settle a lawsuit with Wipro’s CFO Jatin Dalal, while former Wipro senior vice president Mohammad Haque’s lawsuit with Wipro has also been resolved. Additionally, Mahindra & Mahindra has announced a price cut of over ₹2 lakh for the XUV700 AX7 model, available at a special price for four months starting July 10.
Meanwhile, the US stock market is seeing record highs ahead of Jerome Powell’s testimony, with expectations for interest rate cuts later in 2024. Dyson is set to cut around 1,000 jobs in Britain, and Gujarat’s non-major ports have seen a 15% surge in cargo traffic in the first quarter.
Overall, the business landscape is dynamic and evolving, with companies making strategic moves to adapt to changing market conditions and consumer preferences. Stay tuned for more updates on the latest developments in the business world.