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Hindustan Unilever has received Competition Commission of India’s nod to sell its rice export business to Delhi-based LT Foods. The deal, announced in March, allows transfer of the brands and inventory to LT Foods for ₹25 crore. LT Foods owns the Dawat basmati rice brand. HUL began exporting premium basmati rice in 1985 under the Gold Seal Indus Valley brand. Analysts will closely monitor the development.
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