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Swiggy launches 'Daily' app for homestyle meals

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Published : Jun 3, 2019, 2:06 PM IST

Launched in Gurugram, the service will expand to Bengaluru and Mumbai in the coming months, Swiggy said.

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Gurugram: Homegrown food delivery start-up Swiggy on Monday launched "Swiggy Daily", an app to give consumers access to a variety of simple homestyle meals prepared by home chefs, tiffin service providers and organised vendors.

Launched in Gurugram, the service will expand to Bengaluru and Mumbai in the coming months, Swiggy said.

The app allows users to schedule their meals in advance or opt for a daily, weekly or monthly subscription.

"There is a growing demand for quality and affordable everyday meals. With a mix of organised vendors and home chefs, Swiggy Daily will cater to this latent demand for homestyle meals that are an affordable, long-term solution for our daily food needs," said Sriharsha Majety, CEO, Swiggy.

Read more:Vistara to launch international flights in second half of 2019

Swiggy said the app will list over 30 options for every meal.

The platform will include meal options from a mix of organised vendors like Homely, Lunchly, Fig, iDabba and Caloriesmart, popular tiffin services like Dial a Meal and Dailymeals.in that specialise in food fit for daily consumption and expert home chefs like Sumita's Food Planet, Mrs Ahmed's Kitchen and Shachi Jain.

"The daily meal subscription market in India is highly unorganised with multiple tiffin services and home chefs operating independently with the help of local chat groups and word of mouth," said Alok Jain, Entrepreneur in Residence at Swiggy.

"Daily is the first homestyle hyperlocal food subscription service in the country that will offer a world-class platform to these food service providers and help solve the key issues of discovery, flexibility and taste fatigue," Jain added.

Gurugram: Homegrown food delivery start-up Swiggy on Monday launched "Swiggy Daily", an app to give consumers access to a variety of simple homestyle meals prepared by home chefs, tiffin service providers and organised vendors.

Launched in Gurugram, the service will expand to Bengaluru and Mumbai in the coming months, Swiggy said.

The app allows users to schedule their meals in advance or opt for a daily, weekly or monthly subscription.

"There is a growing demand for quality and affordable everyday meals. With a mix of organised vendors and home chefs, Swiggy Daily will cater to this latent demand for homestyle meals that are an affordable, long-term solution for our daily food needs," said Sriharsha Majety, CEO, Swiggy.

Read more:Vistara to launch international flights in second half of 2019

Swiggy said the app will list over 30 options for every meal.

The platform will include meal options from a mix of organised vendors like Homely, Lunchly, Fig, iDabba and Caloriesmart, popular tiffin services like Dial a Meal and Dailymeals.in that specialise in food fit for daily consumption and expert home chefs like Sumita's Food Planet, Mrs Ahmed's Kitchen and Shachi Jain.

"The daily meal subscription market in India is highly unorganised with multiple tiffin services and home chefs operating independently with the help of local chat groups and word of mouth," said Alok Jain, Entrepreneur in Residence at Swiggy.

"Daily is the first homestyle hyperlocal food subscription service in the country that will offer a world-class platform to these food service providers and help solve the key issues of discovery, flexibility and taste fatigue," Jain added.

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BIZ-RBI-RATE CUT (CORRECTED)
RBI may cut interest rate by at least 25 bps Thursday: Experts
(Eds: Correcting date para 3)
          New Delhi, June 2 (PTI) The Reserve Bank may go for another round of rate cut, third in a row, on Thursday to prop up the economic growth which dropped to a five-year low in the final quarter of 2018-19, opined experts.
          The RBI's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy on Thursday amidst Narendra Modi-led government starting its second term. The central bank had cut the short-term lending rate (repo rate) by 25 basis points each in its last two policy reviews.
          The MPC headed by RBI Governor Shaktikanta Das will meet for three days beginning June 3 to firm up the second bi-monthly monetary policy of the fiscal.
          India's largest bank SBI in a recent research report had said that the RBI needs to go in for a larger rate cut, more than 25 basis points, in the next monetary policy review in June to reverse the current slowdown in the economy.
          On expectations from the MPC, CII Director General Chandrajit Banerjee said the RBI needs to continue lowering interest rates in order to provide a stimulus to the economy.
          "This is needed to address the slowdown in production and sales across consumer goods categories including segments such as passenger cars, two-wheelers as well as non-durables," he said, adding that with inflation still far below the RBI's target of 4 per cent, there is an ample room for a reduction in the policy rate.
          Shanti Ekambaram, President, Consumer Banking, Kotak Mahindra Bank opined that macro environment was conducive for the RBI to cut rates.
          "One can expect both liquidity measures and a rate cut. Rate cut expectation ranges from 25 bps to 50 bps," she said.
          Without making any judgement on rate cut by the RBI, Finance Secretary Subhash Chandra Garg said there has been reduction in policy rate in the last two policies announced since February.
          It is for the Monetary Policy Committee to take a view on policy rate taking into consideration low inflation and moderation in the economic growth.
          Inflation continues to be much lower than the target, he said, adding core inflation also now on a decline.
          On the other hand, Karthik Srinivasan, Head, Financial Sector Ratings, ICRA expects the MPC to maintain a status quo in the upcoming meeting.
          "We expect MPC to adopt a wait and watch approach and look for the fiscal policy announcements during the union budget in July 2019," Srinivasan said.
          India's GDP growth slowed to a five-year low of 5.8 per cent in the fourth quarter of 2018-19 mainly due to poor performance of agriculture and manufacturing sectors. PTI NKD DP CS
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