The Marico Innovation Foundation, in its tenth edition of the Indian Innovation Icons, honored seven game-changing innovators who have made a significant impact in various sectors, including healthcare, education, and energy. The event, which took place on March 9, 2023, aimed to recognize and reward innovative entrepreneurs, researchers, and thought leaders who have developed groundbreaking solutions to real-world problems.

The winners of the Indian Innovation Icons 2025 were chosen from over 1,200 entries and were selected by a panel of experts based on their innovative ideas, scalability, and potential to create a significant social impact. The seven winners, who were chosen across three categories – Transformative Innovation, Disruptive Innovation, and Promising Pioneer, are:

1. Sumit Lakhani, Co-founder and CEO of Pharmeasy, for his efforts to make healthcare more accessible and affordable through technology.
2. Sangeet Paul Choudary, Co-founder of TutorMe, for his innovative approach to education through AI-powered online tutoring.
3. Ragno Sekhar, Co-founder of Sustran, for developing a cost-effective and sustainable solution for urban waste management.
4. Nandan Madan, Co-founder of ChargeGrid, for his innovative approach to energy storage and grid management.
5. Abhishek Rastogi, Co-founder of Petrank, for his work on developing a low-cost, portable, and sustainable solution for clean water production.
6. Mayank Varshney for his work on Smellage, a startup that uses a smartphone-based application to help people with intellectual disabilities to access information and communicate more effectively.
7. Gaurav Gupta, Co-founder of LivClean, for his work on developing a low-cost, solar-powered water purification system for rural communities.

The Marico Innovation Foundation is committed to promoting and supporting innovation in India. Their flagship program, Indian Innovation Icons, aims to recognize and reward innovators who are creating a positive impact in their respective fields. The foundation provides a platform for innovators to showcase their work, gain visibility, and connect with potential investors, customers, and partners.

The event was attended by some of the biggest players in the Indian industry, including entrepreneurs, policymakers, investors, and thought leaders. The ceremony included a panel discussion on “Future of Innovation in India: Opportunities and Challenges,” which highlighted the need for a more supportive ecosystem for innovation in India.

The Marico Innovation Foundation’s efforts to recognize and support innovation are crucial in fostering a culture of innovation in India. By recognizing and rewarding innovators, the foundation is encouraging more people to pursue their innovative ideas and create positive change in their communities. The Indian Innovation Icons 2025 winners are a testament to the potential of Indian innovation, and their work has the potential to make a significant impact in the world.

Saffola Oats, India’s top oats brand, has introduced a new product called Saffola Cuppa Oats, a mess-free and quick-cook snack that combines taste, nutrition, and convenience. This innovative product is designed for busy consumers, particularly young adults, students, and working professionals, who are always on-the-go and need a quick and satisfying snack.

Saffola Cuppa Oats is available in two flavors, Magic Masala and Spicy Mexicana, and is made with a blend of oats, millets, and crunchy multigrain bites. The product is high in fiber and protein, and is free from maida, artificial flavors, colors, and preservatives, making it a healthier option without compromising on taste.

This product is designed to be easy to prepare, requiring only four minutes of boiling hot water to create a delicious and nutritious snack. It’s perfect for a rushed morning, a mid-day boost, or a late-night craving. Saffola Cuppa Oats is available in leading retail stores and quick-commerce platforms, making it a convenient option for consumers.

According to Nilanjan Roy Choudhury, Business Head of Marico Ltd, the company is committed to continuous innovation that meets the evolving health needs of its consumers. The Saffola Cuppa Oats product was created to fill a gap in the market, providing a quick, tasty, and nutritious snack that fits into the dynamic lifestyles of modern consumers. With Saffola Cuppa Oats, consumers can enjoy a mess-free and satisfying snack that fuels their ambitions without compromising on time.

Saugata Gupta, the managing director and CEO of Marico Ltd, believes that India’s fast-moving consumer goods (FMCG) industry is facing increased competition from both small and large players. On one hand, direct-to-consumer (D2C) brands are gaining traction with niche offerings, while on the other hand, regional players have returned to the market after facing supply chain disruptions during the pandemic. As a result, the competition is becoming more complex and challenging.

According to data from NielsenIQ, smaller FMCG firms reported a 9.7% jump in year-on-year volumes in the December quarter, more than double the 4.4% growth posted by larger industry giants. This trend is forcing established companies to adapt and acquire emerging brands to strengthen their portfolios.

Marico, in particular, has made strategic acquisitions, including a majority stake in Apcos Naturals, Plix, and Beardo, to expand its portfolio and position itself for growth. The company is also focusing on improving its distribution channels, including launching its “Setu” initiative to increase direct reach in urban and rural markets.

Gupta believes that the key to success in this complex market is to be able to anticipate risks and opportunities, and execute with agility and resilience. He also notes that consumption has not yet fully recovered, and companies must innovate to compete for consumer spending across various categories, including travel, dining, and other discretionary expenses.

The rise of digital-first consumer brands has further intensified the competition, with many of these startups shifting their focus towards strategic exits rather than scaling independently. Marico and other established players are likely to continue adapting to this changing landscape, which will likely see a wave of consolidation in the FMCG industry.

The 14th edition of the Forbes India Leadership Awards (FILA 2025) recently took place at the JIO World Convention Centre in Mumbai, where International Cricket Council (ICC) Chairman Jay Shah was honored with the prestigious Icon of Excellence Award. This award recognizes Shah’s outstanding contributions to the world of cricket, particularly in his role as Secretary of the Board of Control for Cricket in India (BCCI) and his tenure as the youngest-ever ICC Chairman.

Shah’s tenure has been marked by significant innovations, inclusivity, and growth in the sport. Under his leadership, he has been instrumental in driving major changes and improvements in the way cricket is organized and governed around the world. The award is a testament to his dedication, vision, and commitment to the sport, which has earned him widespread recognition and respect within the cricket community and beyond.

The award was presented to Shah by Harsh Mariwala, Chairman of Marico Limited, and KVS Manian, MD & CEO of Federal Bank, at the prestigious event. As a prominent figure in the cricket world, Shah’s achievement is a reflection of the significant impact he has had on the sport and the many lives it touches.

The Forbes India Leadership Awards aim to recognize and celebrate outstanding leaders who have made a significant contribution to their respective fields. The award is a symbol of excellence and a testament to Shah’s tireless efforts to promote and develop the sport of cricket. His dedication, leadership, and commitment to the sport have inspired many, and this award is a fitting recognition of his achievements.

Marico, a leading FMCG company, has launched Saffola Cuppa Oats, a snack that is designed to revolutionize the oats category by providing a convenient and delicious option for today’s fast-paced consumers. Saffola Cuppa Oats is a ready-to-eat snack that can be prepared in just four minutes by adding hot water, making it perfect for busy individuals who want a quick and nutritious break.

The product is available in two flavors – Magic Masala and Spicy Mexicana – and is made with a blend of oats, millets, and crunchy multigrain bites. Saffola Cuppa Oats is high in fiber and protein, making it a great source of nutrition, and is also free from maida, artificial flavors, colors, preservatives, and palm oil, making it a healthier option.

The product is designed to cater to the needs of young adults, students, and working professionals who are always on-the-go, and need a convenient and satisfying snack that they can enjoy on the go. Saffola Cuppa Oats is a solution to this problem, providing a delicious and nutritious snack that can be prepared in no time and enjoyed anywhere.

Marico’s Business Head, Nilanjan Roy Choudhury, stated that the company is committed to innovation that meets the evolving health needs of their consumers, and Saffola Cuppa Oats is a reflection of this commitment. The product is designed to provide a convenient and delicious snack that fits into a busy lifestyle, making it a great option for anyone looking for a quick and nutritious break. Saffola Cuppa Oats is currently available in retail stores and quick-commerce platforms, making it easily accessible to consumers across the country.

Marico, a leading Indian fast-moving consumer goods (FMCG) company, is revolutionizing the oats category with the launch of Saffola Cuppa Oats, a new, quick, and convenient snack. This product is designed for the fast-paced lives of working professionals, young adults, and students, who need a nutritious and hassle-free snacking solution. Saffola Cuppa Oats is a game-changer, as it’s ready in just four minutes, simply by adding boiling hot water, and comes in two flavors: Magic Masala and Spicy Mexicana.

The innovative product combines oats, millets, and crunchy multigrain bites to deliver a flavorful and satisfying taste experience, which is high in fiber and a source of protein. As part of Saffola’s “No Nasties” promise, the product does not contain maida, artificial flavors, colors, preservatives, or palm oil, making it a wholesome and healthy choice.

Nilanjan Roy Choudhury, Business Head – Foods Business, Marico Ltd., emphasized that the company is committed to innovation that aligns with evolving consumer needs. Marico recognized the demand for a snack that offers both taste and nutrition without adding to the daily hustle. Saffola Cuppa Oats is the answer, providing a quick, tasty, and wholesome snack that fits seamlessly into dynamic lifestyles, combining modern convenience with wholegrain goodness.

With the launch of Saffola Cuppa Oats, Marico is set to redefined convenience in the oats category, offering a product that is both great-tasting and nutritious, without compromising on convenience. This innovative solution is perfect for those looking for a quick, satisfying, and mess-free snack that can be enjoyed at any time of day.

Marico has launched Saffola Cuppa Oats, a new snack option that combines flavor, nutrition, and convenience for fast-paced consumers. This product is designed to be quick and easy to prepare, requiring only 4 minutes to make by adding boiling hot water. Saffola Cuppa Oats comes in two flavors, Magic Masala and Spicy Mexicana, and is a blend of oats, millets, and crunchy multigrain bites.

This product is not only delicious but also high in fiber and a source of protein. It meets Marico’s “No Nasties” promise, as it is free from maida, artificial flavors, colors, preservatives, and palm oil, making it a better-for-you snack option. Saffola Cuppa Oats is designed for busy professionals, young adults, and students who want a quick and satisfying snack without compromising on flavor or nutrition.

The product is available in retail stores and quick-commerce platforms, making it a convenient option for modern consumers. Nilanjan Roy Choudhury, Business Head of Marico’s Foods Business, stated that the company is committed to innovation that meets the evolving health needs of its consumers. Saffola Cuppa Oats is designed to fill the gap between flavor and nutrition, offering a quick, easy, and nutritious snack that fits into a dynamic lifestyle. This product represents a fusion of modern convenience and wholegrain goodness, catering to the needs of fast-paced consumers.

Marico’s MD & CEO, Saugata Gupta, believes that the rural market is at an “inflexion point,” offering significant opportunities for FMCG companies that invest in price point packs. The rural market, with its large population base and rising disposable income, presents a “headroom for growth” for FMCG companies. This is due to an increase in per capita income, helped by infrastructure spending and an increase in the minimum support price of crops, leading to improved quality of life for the rural class.

Gupta emphasizes the importance of affordability and availability in rural markets, which can be achieved through price point packs and distribution. He notes that affordability is driven by price point packs, while availability is driven by distribution, as counterfeits can be major issues in rural areas.

Gupta believes that FMCG companies should continuously invest in rural infrastructure, distribution, and create “moats” to maintain a competitive advantage. He also highlights the importance of differentiated offerings in various channels to avoid channel conflict and ensure exclusivity of packs.

The rural market has been growing at a higher rate than urban areas, with the latest quarter seeing rural growth outpace urban growth for the fourth consecutive time. Marico, which has seen sequential volume growth, notes that urban consumption is stable, while rural demand continues to grow. Gupta believes that traditional retail channels, such as Kirana stores, will continue to coexist with new-age channels like Quick-Commerce, each playing a specific role in different catchment areas.

Harsh Mariwala is a successful businessman and entrepreneur who has built a vast business empire, specifically in the fast-moving consumer goods (FMCG) sector. He is the founder and chairman of Marico, a company that was established in 1990 and has since become a dominant player in the FMCG industry. Mariwala’s journey began in the family business, where he joined his father, Charandas, in the 1970s and learned the ropes of the trade. He later started Marico and expanded its product portfolio to include a wide range of products, including hair care, skin care, fabric softeners, and more.

Mariwala’s company has expanded to 25 countries, primarily in Asia and Africa, and has created several iconic brands such as Saffola and Parachute. He has also launched several other ventures, including Kaya Limited, a skincare clinic chain, and the Marico Innovation Foundation, Mariwala Health Initiative, and Sharp Ventures.

As of February 2025, Mariwala’s net worth is estimated to be $3.1 billion, according to Forbes Real Time Billionaires List. A significant portion of his wealth comes from his controlling stake in Marico and its subsidiaries. He is married to Archana Mariwala and has two children, Rajvi and Rishabh, who are both involved in the family business. Rajvi heads the Marico Health Initiative, while Rishabh has his own ventures, including Soap Opera n More.

Mariwala’s success is a testament to his vision, hard work, and entrepreneurial spirit. He has built a business empire that has made a significant impact on the FMCG industry and has helped to create jobs and economic growth in the countries where Marico operates. His legacy is set to continue through his family business and his various initiatives, which will help to shape the future of the industry.

The Marico Innovation Foundation recently celebrated the 10th edition of Indian Innovation Icons, a prestigious award that recognizes and celebrates Indian innovators who have made significant breakthroughs in various fields. The event aimed to identify and felicitate India’s game-changing innovations that have the potential to transform industries and people’s lives.

The awards ceremony was a grand affair, with many dignitaries and industry leaders in attendance. The event saw the announcement of the winners in 15 categories, which included areas such as healthcare, education, energy, and more. The winners were selected by a rigorous process, which considered factors such as innovation, impact, and scalability.

The Marico Innovation Foundation was established in 2013 with the aim of supporting and promoting innovations that can make a positive impact on society. The foundation has been working tirelessly to encourage innovative thinking and problem-solving in India, with a focus on areas such as healthcare, education, and energy.

The 10th edition of Indian Innovation Icons saw a large number of applicants from across the country, with the winners being selected from a pool of over 1,000 entries. The winners this year were recognized for their innovative solutions, which included products, services, and initiatives that addressed some of India’s pressing challenges.

One of the winners, a team from the Indian Institute of Technology (IIT) in Mumbai, was awarded for their invention of a low-cost, portable, and easy-to-use ventilator that can be used in remote areas where medical facilities are scarce. Another winner, a startup based in Bengaluru, was recognized for their innovative sustainable packaging solution, which uses a combination of natural materials to reduce plastic waste.

The Marico Innovation Foundation’s Indian Innovation Icons award is considered one of the most prestigious awards in the Indian innovation landscape, with winners receiving a cash prize and a year-long leadership program that helps them develop and scale their innovations.

In conclusion, the 10th edition of Indian Innovation Icons was a resounding success, with winners showcasing their groundbreaking innovations that have the potential to transform industries and people’s lives. The Marico Innovation Foundation’s continued efforts to promote innovation and entrepreneurship in India are crucial in driving the country’s growth and development.

The Marico Innovation Foundation is preparing to host its 10th edition of the Indian Innovation Icons program, previously known as the Innovation for India Awards, on March 6, 2025, at the Jio World Convention Centre in Mumbai. This year’s event will bring together a distinguished audience of 1,000 leaders, entrepreneurs, and investors to celebrate cutting-edge innovations and uncover hidden gems in various sectors. Over the years, the program has kick-started transformative innovations, and this edition will honor seven exceptional breakthroughs across different sectors.

The event has received praise from prominent figures such as Harsh Mariwala, who emphasizes the importance of initiatives like Indian Innovation Icons in driving local and global impact. Amit Chandra and Suranjana Ghosh also highlight the foundation’s commitment to nurturing pioneering innovations. The event will feature TED-style talks and networking opportunities, providing attendees with a deeper understanding of future trends and setting the stage for exciting new developments.

The 10th edition of Indian Innovation Icons promises to be an exciting opportunity for entrepreneurs, investors, and leaders to come together and celebrate India’s innovative spirit. With its rich history of spotting and encouraging groundbreaking ideas, the event is poised to make a significant impact in India’s innovation ecosystem. By recognizing and supporting innovative initiatives, Indian Innovation Icons aims to drive positive change and create a brighter future for the country. With its unique blend of networking, learning, and entertainment, this event is poised to be a must-attend for anyone interested in innovation, technology, and entrepreneurship.

Marico’s CEO, Saugata Gupta, announced that the company will continue to practice “shrinkflation” for a few more quarters, where they reduce the size of their products while keeping the prices the same. This is due to higher-than-expected input inflation, which has caused temporary pressure on profitability. However, the company expects the inflation cycle to end in the next fiscal year, with prices expected to cool down once the flush season resumes in Q1 FY26.

Gupta anticipates that prices will decrease once the rural demand improves, which has been driven by government schemes, increased Minimum Support Prices (MSPs), and a favorable crop season. On the other hand, urban consumption sentiment remains healthy among affluent and upper-middle-class segments, while the middle and bottom of the pyramid segments are being affected by inflation and slow wage growth.

Marico reported a consolidated profit of Rs 406 crore in Q3 FY25, with net sales increasing from Rs 2,422 crore in Q3 FY25 to Rs 2,794 crore in Q3 FY24. The company’s flagship brand Coconut Oil witnessed a 33% domestic revenue growth, while Saffola Edible Oils recorded an 18% revenue growth with a 24% value growth. The hair oil segment had a 19% domestic revenue growth with a 2% value growth, and the food segment registered a 31% value growth with an annualized run rate of nearly Rs 1,000 crore.