Hello Reader,
Prime Minister Narendra Modi launched the National Logistics Policy (NLP) at the Vigyan Bhawan in New Delhi.
The policy, which was delayed due to the pandemic, aims to smoothen the movement of goods across the country and bring departments of the ministries of road transport, railways, customs, aviation, foreign trade and commerce onto a single platform.
It is expected to improve India’s ranking in the Logistics Performance Index to 25-30 from 44 in 2018, and reduce logistics cost to 10% of Gross Domestic Product over the next five years.
ICYMI: Seven decades after cheetahs became extinct in India, they are back. At Madhya Pradesh’s Kuno National Park, PM Modi on Saturday released a pack of eight cheetahs that arrived from Namibia.
In today’s newsletter, we will talk about
- Country Delight’s milk mission
- Nithin Kamath’s mantra for success
- The story of ChocoWishes
Here’s your trivia for today: Which country has the highest percentage of its population online?
D2C
Country Delight’s milk mission
While India’s landmark Operation Flood may have transformed the country from a milk-deficient nation into the world’s largest milk producer, it did not organise the sector and solve other related problems.
Gurugram-based Country Delight is on a mission to improve the milk quality in India.
The opportunity:
- Country Delight says India’s fresh food and staples market is expected to cross $50 billion by 2025.
- The startup handles more than eight million milk deliveries per month across 15 cities, with a supply chain that spans 11 states in the country.
- In the last three years, Country Delight has grown 10X in scale and is currently at over Rs 900 crore ARR.
Entrepreneurship
Nithin Kamath’s mantra for success
Nithin Kamath, Founder and CEO of Zerodha, doesn’t believe in following a fad.
Growing from 70,000 customers in 2016 to 10 million in 2022, his bootstrapped startup is the poster child of doing things differently.
The money game:
- It took Zerodha six years to attract 70,000 customers and another four years to hit two million customers. But in the last couple of years, the company has witnessed phenomenal growth, reaching 10 million customers in 2022.
- Some of the key milestones in Zerodha’s rise include the arrival of CTO Kailash Nadh in 2013 and the launch of Varsity in 2014.
- The tipping point for Zerodha came when it introduced zero brokerage equity investing in December 2015.
Women entrepreneurs
The story of ChocoWishes
Surbhi as a child (left) and as a chocolate entrepreneur (right)
New Delhi-based ChocoWishes was started from a home kitchen by Surbhi Singhania in 2017.
It is now incubated under Women Startup Program 3.0 of NSRCEL, sponsored by Goldman Sachs and the Indian Institute of Management Bangalore.
The chocolate factor:
- ChocoWishes’ portfolio includes chocolates, cookies, brownies, and healthy bakes.
- Its B2B clients have included M&S India, Gulab, Ibis Hotels, IFF, Stonex, and Diamond Constellation.
- The company’s long-term plan is to venture into offline retail, mainly through shelf spaces and collaborations.
News & updates
- Typhoon alert: The Japan Meteorological Agency has urged residents to evacuate parts of the southern island of Kyushu, ahead of a large typhoon expected to bring up to half a metre (20 inches) of rain when it makes landfall on Sunday.
- Strange parallels: Scientists have found that 10 or more fire ants can form a raft by what is called as the Cheerios effect. This can be used to engineer nanoparticles for biofluid emulsions, and the ant movements can inform the design of swarming microrobots.
- In hot water: A US District Court has ordered that Tesla must tell employees about a lawsuit alleging the automaker violated state and federal law by requiring workers to sign separation agreements.
Which country has the highest percentage of its population online?
Answer: At 100%, Iceland has the highest internet penetration rate in the world.
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