If you thought that all the action in business was concentrated around
the e-commerce sector, you could not be more wrong. The unlikely
category of milk and dairy products has been seeing some of the most
frenetic activity over the past couple of years.
In terms of sheer volume, the Indian milk production - at 400 million
litres per day - is the highest in the world. In terms of per capita
consumption, though, we lag way behind the developed nations.
The former promoters of Ranbaxy, Malvinder Singh and Shivinder Singh,
suffered a major setback when an arbitration tribunal in Singapore asked
them to pay 56.2 billion Yen (nearly Rs 3,500 crore) to Daiichi Sankyo
for concealing key facts during the sale of their controlling stake in
State-owned insurance behemoth Life Insurance Corporation of India (LIC)
often comes to the rescue of PSUs at the time of disinvestment.