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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14 India’s economic growth journey huge opportunity for international partners: Kwatra From diesel to daylight: How government solar schemes are powering India’s farmers The next energy leap: Replicating ethanol’s success in diesel Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Windfall levy on export bound diesel, ATF raised India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Central Railway to run four special local trains for Ambedkar Jayanti Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains West Asia Crisis: Induction cooking may consume 13-27 GW power Govt defers power plant maintenance for three months; 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Chennai-based company brings down India’s popcorn maize imports, more than doubles domestic output
By Subramani Ra Mancombu · 2026-06-14 · via Economy News, Latest Economic News Today | The HinduBusinessLine

A Chennai-based company’s initiative to grow popcorn maize domestically has helped to bring down its imports from 70 per cent a decade ago of India’s demand to 15 per cent currently, even as domestic production has expanded over 2-½ times.  

“Until 2015, the Indian popcorn market comprised popcorn maize grown in Karnataka and imported ones. With the steady expansion of maize cultivation for popcorn, the market size has grown from 50,000 tonnes to 1.3 lakh tonnes, with domestic production rising from 15,000 tonnes to 85,000 tonnes,” said SBP Pattabhi Rama Rao, Managing Director, Gourmet Popcornica Pvt. Ltd. 

Rao, whose family has traditionally been in farming and owned sugar mills in the past, is the man behind the dramatic surge in popcorn maize production in the country and the fall in imports. Gourmet Popcornica, founded in 2014, has gone all out to build the country’s popcorn value chain, from hybrid seed and farmer partnerships to kernel processing, storage, supply to cinema halls and branded retail products.  

Strategic partnership

Gourmet Popcornica was born of a strategic partnership with Preferred Popcornica of the US, combining world-class farming expertise and kernel quality with Indian cultivation and processing.

“Initially, we imported these seeds and cultivated them on a trial basis during the October-December period of 2016. Then, in January-March 2018, we started cultivating them on 840 acres,” said Rao. 

Today, over 17,500 farmers across nine States are growing this popcorn maize on over 36,000 acres (through contract farming). The crop is grown in Andhra Pradesh, where it all began in 2016, Chhattisgarh (from 2023), Telangana, Uttar Pradesh, Maharashtra, Karnataka, Madhya Pradesh and Gujarat (since 2024) and Tamil Nadu, where it was introduced last year and is still being tested.

Inputs at credit

“To get growers interested, we began providing crop inputs on credit. This eliminates the main problem they face - getting loans. We also buy 100 per cent of the crop despite any quality problem and pay them directly through bank transfers. All financial details are shared via WhatsApp with growers,” said the Gourmet Popcornica Managing Director.

The popcorn company, which employs 800 personnel, has begun to modernise cultivation to help growers cut costs, especially on labour. “We have begun to deploy automated seed planters and will introduce corn cob harvesters this year. The target is to mechanise the harvest of at least 10 per cent of the 36,000 acres in 2026,” said Rao. 

From 100 per cent manual plantation in 2017, about 30 per cent of farmers have planted popcorn maize using seed planters (from single row planters to four row planters). “All this, with a commitment on the part of Gourmet Popcornica to buy back the entire produce, is an industry first,” said the company’s managing director.

Farmer, central to its efforts

The company, India’s largest grower of popcorn maize and the fifth-largest in the world,  has introduced drone spraying of the maize crop. The company plans to mechanise the harvest of at least 10 per cent of the 36,000 acres this year. The introduction of mechanised farming, including the use of seed planters, corn cob harvesters and spraying by drones, has benefited farmers by increasing yields and income. 

Rao said he joined Satyam Cinemas, where he began learning the popcorn business before venturing into the growth of popcorn maize. “Gourmet Popcornica began the effort towards the corporatisation of farming, with the recognition of the farmer as central to our efforts. With a deep understanding of the farming ecosystem, we have several firsts to our credit – both specifically in popcorn maize farming, as well as farming in general,” he said. 

Once farmers harvest the crop, the wet cob is moved to the company’s processing facilities at Musunuru in Andhra Pradesh.  There, it is dried, sorted, processed and stored in cold storage until it is ready for dispatch. 

Quick customer support

“At least 90 per cent of our popcorn maize processing is automated. We have four lines to process 29 tonnes of maize per hour,” said Rao, adding that the company’s cold storage capacity was 45,000 tonnes..  

This has helped Gourmet Popcornica to customise recipes and become the go-to for all popcorn needs. “Our popcorn is available at over 2,200 cinemas across India. We are the preferred suppliers to India’s largest cinema chains, offering customised flavours and blends,” he said. 

The company has come out with premixed popcorn flavours and seasonings developed by its in-house team. In addition, Gourmet Popcornica supplies to large popcorn manufacturers, supermarkets, and over 100 bulk commodity traders across India. 

On-ground and remote support, with quick resolution of issues, including guaranteeing 100 per cent replacement of the product to ensure their satisfaction, are some of the measures that have helped the company. 

Expanding beyond maize

This has helped the company to increase its earn ₹400 crore in 2025 from zero a decade ago. The maize success has now encouraged the company to expand its activities to oil palm. “Today, one of every two popcorns sold in India is ours,” said Vinay Nagpal, Head- Customer Experience at Gourmet Popcornica.

“We have a total command area of 9 lakh hectares under oil palm in Andhra Pradesh and Odisha. Oil palm is grown across 12 mandals on over 2.5 lakh acres in Andhra Pradesh, with an additional 3,000 acres being planted by us,” said Rao.

In Odisha, oil palm is grown in 6.5 lakh acres in Kalahandi district with 5,000 acres being added recently. 

“Actually, we were given the oil palm plantations by a company which was impressed with our contract maize farming,” said the Gourmet Popcornica managing director.

The company plans to enter production of paddy, mustard, oats, corn and high-oleic peanut seeds, he said.

Published on June 14, 2026