What is the average turnover per day of vegetables and fruits in India?
India’s DAILY turnover in vegetables and fruits is about Rs. 275 crores (US$ 59 million). To put some perspective, that is 3 times the average daily turnover of Tata Consultancy Services (one of India’s largest and oldest corporations)! Now that I have caught your attention, the typical ‘wastage’ per day, is around Rs. 130 crores (US$ 27 million). This is roughly the market capitalization of Cognizant (CTS) today. In summary, it’s a LOT bigger than the Indian IT sector, which has always been the apple in the eye of everyone. And what further rubs salt in the wound is that agriculture has been always been run by uneducated, old, rural people with little advanced technologies. Whereas the Indian IT industry employs the cream of the world! So, if tomato prices go up by say 10% a day, it is equivalent to…. • Rs. 10 crores (US$ 2.1 million) of increase in revenue • That is 10 times the turnover of all of Reliance Fresh stores put together! Incidentally, Reliance Fresh doesn’t make a single
