Skip to content
Search

Latest Stories

PepsiCo formally withdraws lawsuits against Indian farmers

AMERICAN multinational business giant, PepsiCo Inc has formally withdrawn lawsuits against Indian farmers that the snack food and drinks maker had accused of infringing its patent by cultivating a potato variety, the company and the growers said today (10).

PepsiCo had sued nine farmers for cultivating the FC5 potato variety, grown exclusively for its popular Lay's potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.


Soon after suing the farmers, PepsiCo came under political pressure from prime minister Narendra Modi's ruling Bharatiya Janata Party (BJP) and some of its allies who asked the US company to withdraw lawsuits against potato farmers, who come from Gujarat, Modi's home state ruled by the BJP.

Bowing to pressure, PepsiCo on May 2 agreed to take its lawsuits back.

"It's a victory for us, but PepsiCo's decision to file lawsuits against the farmers has sullied their reputation and the company now must apologise," Anand Yagnik, the potato growers' lawyer told a news conference in Ahmedabad, the business hub of Gujarat.

The submission made in the court to withdraw lawsuits against the farmers "is in sync with its publicly stated position," a PepsiCo spokesman said.

(Reuters)

More For You

Anthropic CEO

Anthropic has raised $65 billion (£48 billion) in fresh funding

Getty Images

Anthropic overtakes OpenAI to become world's most valuable AI startup

  • Anthropic has raised $65 billion (£48 billion) in fresh funding.
  • The deal values the Claude developer at $965 billion (£714 billion).
  • The funding round places Anthropic ahead of OpenAI in the race for investor backing.

Anthropic, the company behind the Claude chatbot, has raised $65 billion (£48 billion) in fresh funding, pushing its valuation to $965 billion (£714 billion) and placing it ahead of rival OpenAI in the battle to become the world's most valuable artificial intelligence startup.

The funding round is the latest sign that investors remain willing to pour vast sums into AI companies despite growing concerns over regulation, safety and the long-term impact of the technology. It also reflects Anthropic's rapid rise from a relatively smaller player in the AI sector to one of the industry's most influential companies.

Keep ReadingShow less