ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1Adopted CompanyGujarat Co-operative Milk Marketing Federation Ltd (GCMMF) – AMUL
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1Porter’s Five Forces Figure 1 Porters Five Forces
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1Assessment of the five forces is as below:I. Threat of new entrants • Cost and Resource advantages: Amul dairy is co-operative society. That means “cooperation among competition” is the fundamental principle. Amul dairy is managed under the norms of GCMMF and market the products under the brand name ‘Amul’, which has a very good reputation at domestic and international level. Here, the raw material procurement is very difficult for the new entrants. Consequently Capital requirement is also high. Still new entrants are emerging such as domestic and international players. So the threats of new entrants are moderate. • Brand preferences and consumer loyalty: There is an immense level of Brand Preference of Amul in the minds of the people. The level of preference specifically in the liquid milk sector is that they would go to other retailer if the retailer does not have milk. • Access to distribution channels: The distribution channel of GCMMF is a very planned and perfect one. For any new entrant to enter it would be a very difficult task. For GCMMF the result is years of hard work and its investment in its employees as well as at different levels in the distribution network. • Inability to match the technology and specialized know-how of firms already in the industry: The technology used by Amul is imported from Denmark. It is a state of art technology. To get this technology in India, a firm would require a huge amount of resources. • Capital requirements: The total investment required in the industry is huge and is a decision worth considering even for MNC’s. The investment decisions cover the processing costs as well as the marketing costs. To compete with the brand Amul in India is difficult as Amul is synonymous to Quality.II. Bargaining power of supplierThe main objective of Amul dairy is not profiting but sustenance. As it is a part of co-operative society, itruns for the benefit of farmers those are the suppliers of milk and users of milk products. According theconcept of the cooperative society supplier has bargaining power to have a good return on his or hersupply. However, supplier has limited rights to bargain with the cooperative society because it is madeand run for the sake of mass and not for individual benefit. But it is made sure that the supplier gets hisfair share of return.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1There is appropriate bargaining power of the supplier. In olden days there were not any kind ofcooperative societies as the farmer was exploited. But, nowadays the farmer’s rights are protected underthe cooperative rules and regulations, which ultimately results in moderate power of bargaining from thesupplier
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1III.Bargaining power of buyers • Cost of switching to competitor brands: The switching of brands is seen very much in products such as ice cream, curd, milk powders, milk additives etc. but it can be seen comparatively less in liquid milk category. The other brands which provide the same products as Amul for ice cream are Vadilal, Quality Walls etc. And the competitors for the milk markets are mainly local or regional marketers. For e.g., Nandini dairy in Karnataka is a competitor for Amul. • Large number of buyers: Milk is a necessity product and hence is a mass product. It has a considerable share of the rupee spent by any Indian. A study shows that in urban areas about 36% of monthly per capita expenditure was on food items. Out of that, around 10% was spent on milk and milk products. Moreover the buyers are spread evenly over the country and do not have any bargaining power. The buyers we are referring to in this scenario are the common man or any individual who is health conscious and considers milk as a substitute for daily nutrition value.IV. Rivalry among competitors • Demand for the product: The demand of the products of GCMMF is increasing at a very healthy rate. AMUL’s sales of Rs 11,670 crore for the year ended March 2012, almost 55% more than Nestle Indias Rs 7,541-crore sales. Exactly a decade ago, the gap was much narrower when Amul reported sales of Rs 2,336.48 crore against Nestle Indias Rs 2,075 crore. To stand against the rivalry GCMMF is coming up with a wide range of products like sugar-free chocolates, pro biotic curd and ice cream. • Nature of competitors: In different business category GCMMF faces competition from different players. Amul butter faces the least competition among its products in India. It holds an unchallenged market share of 86%. The nearest competitor is Britannia. In the chocolate category it faces competition from Cadbury and Nestle. Chocolate market is estimated to be around 1500 Cr., growing at 18-20% per annum. Cadbury is the market leader with 72% market share. Amul stands third, after Nestle. In the ice cream market it faces competition from firms like Kwality, Vadilal and Mother Dairy. While AMUL holds a market share of 38%, Kwality, Vadilal and Mother Dairy follows with respective shares of 14%, 12% and 8%.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 Moreover in almost all categories there is presence of local retailers and processors and milk vendors. Rivalry intensifies as each of the competitors has different lines and this would in turn depend on the importance the line holds for the competitor. • Mergers and acquisitions: As such in the industry there are no mergers or acquisitions. However if any MNC wishes to enter through this route then the competition might be severe.V. Threat of substitutes • Availability of attractive priced substitutes: Different substitutes are available for different category of products. There is ample availability of low priced substitutes from local vendors and retailers. This is a front where GCMMF is still finding hard to combat. • Satisfaction level of substitutes: Customers do consider these products as equal on quality if not better then the products of GCMMF. Hence the rate of customers switching to the substitutes is very high. Moreover the buyers also can switch to the customers easily without any hurdles. • Not immediate substitutes: Distant substitutes are present in many of the categories of business of GCMMF. For example in the Masti Buttermilk category it faces competition from cold drinks and ice cream.These 5 forces interact among themselves at different degrees over a period of time. Moreover it will getintense or loosen up depending upon the moves of its competitors, buyers, suppliers, etc. HoweverGCMMF has been able to outperform on almost all fronts excluding a few lines of business.S W O T AnalysisStrengths • Brand image Amul has been synonymous with India’s White Revolution and successful model for rural development. The role played by Amul in promoting livelihoods of millions of milk producers in India has earned the organisation the goodwill and trust of people in the country. Besides, the innovative ad campaigns featuring the Amul girl, has positioned Amul as one of the most recognizable brand in the country, which it can leverage on for further growth. • Strong distribution network
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 Amul products are available in over 5,00,000 retail outlets across India through its network of over 3,500 distributors. There are no other competitors with such a strong network in India. Such a strong network helps Amul in gaining market penetration and thereby making it a household name in India.• Innovation Amul came up with the idea of targeting the health conscious and diabetes affection people of the nation. In accordance to this, Amul has come up with two new products: Amul Sugar-free chocolates and Amul pro-biotic ice-creams. There is no other competitor in national level for Amul in this sector for this range of products.• Availability of raw material and labour supply There is abundant supply of raw materials for Amul products in India. The availability of cheap and skilled labour in India adds to Amul’s strength. The below table gives data about raw material, suppliers and employees: 17 District Cooperative Milk Producers Unions Members (16 Members & 1 Nominal Members) No. of Producer Members 3.18 Million No. of Village Societies 16,117 Total Milk handling capacity per day 13.67 Million litres per day Milk Collection (Total - 2011-12) 3.88 billion litres Milk collection (Daily Average 2011- 10.6 million litres (peak 13 million) 12) Table 1 Its daily milk procurement is approximately 13 million lit (peak period) per day from 16,117 village milk cooperative societies, 17 member unions covering 24 districts, and 3.18 million milk producer members. For example, in the production of Amul Fruit & Nuts ice-cream the following materials and labor is easily available: (i) Direct materials To manufacture one ice cream cup below are the components or raw materials required: Dry Fruits: 3% Milk: 70% Flavours: 5% Sugar : 16 % Cup : 2% Other: 4% (ii) Direct Labour
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 There are 17 workers employed in the production of ice-cream and each worker is paid Rs. 2000 per month.• Wide range of products Amul offers a wide range of products across different market segments. Amul sells products ike milk, ice cream, curd, milk powders, milk additives etc. Offering new products to customers continuously ensures customer loyality. Below is a table showing all the products that Amul produces, also present are the brand names under which these products are sold. Product Brand Breadspreads Amul Butter, Amul Lite, Delicious Table Margarine Amul Pasteurized Processed Cheddar Cheese, Amul Processed Cheese Spread, Amul Pizza (Mozarella) Cheese,Amul Emmental Cheese, Cheese Range Amul Gouda Cheese, Amul Malai Paneer (cottage cheese), Utterly Delicious Pizza Amul Gold Full Cream Milk 6% fat, Amul Shakti Standardised Milk Fresh Milk 4.5% Fat, Amul Taaza Toned Milk 3% fat,Amul Slim & Trim, Amul Cow Milk Amul Gold 4.5% fat Milk, Amul Shakti 3% fat Milk, Amul Taaza UHT Milk Range 1.5% fat Milk, Amul Lite Slim-n-Trim Milk, Amul Fresh Cream Amul Full Cream Milk Powder, Amulya Dairy Whitener, Sagar Milk Powders Skimmed Milk Powder, Amulspray Infant Milk Food, Sagar Tea and Coffee Whitener Amul Kool Flavoured Milk, Amul Kool Cafe, Amul Kool Koko,Amul Milk Drink Kool Millk Shaake, Amul Kool Chocolate Milk,Nutramul Energy Drink Health Drink Stamina Instant Energy Drink Brown Beverage Nutramul Malted Milk Food Amul Masti Dahi (fresh curd), Amul Masti Spiced Butter Milk,Amul Curd Products Lassee, Amul Flaavyo Yoghurt Pure Ghee Amul Pure Ghee, Sagar Pure Ghee Sweetened Amul Mithaimate Condensed Milk
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 Mithaee Range Amul Shrikhand, Amul Mithaee Gulabjamuns, Amul Basundi,Avsar (Ethnic Sweets) Ladoos Ice-cream Sundae Range, probiotic,,sugarfree and probiotic Chocolate & Amul Milk Chocolate, Amul Fruit & Nut Chocolate, Amul Chocozoo, Confectionery Amul Bindass, Amul Fundoo Table 2 Different products and brands of AmulWeaknesses • Perishable nature of its products The products of Amul are perishable in nature and there is a proper requirement of cold storage to ensure freshness and longer shelf life for its products. • Uncertain supply of raw material The milk yield can get affected by external factors such as monsoon, availability of fodder, general health of the cattle etc. • Weak infrastructure As compared to other players in the market including MNCs, Amul has got weak infrastructure. • Government intervention Government intervention into operations has led to politicization of Co-operatives. This has led to percolation of corruption and favouritism. This might lead to lack of competence and takes the focus away from operational efficiency. • Lack of proper implementation The average milk marketing and procurement by cooperatives during the last four years is given below:- Ten ministries and departments are administering the dairy sector. Ministry of Health deals with food safety and quality. Ten legislations in force are: 1. Prevention of food adulteration act 1954 & rules. 2. Essential commodities act, 1955, administered by Ministry of consumers’ affairs by enforcing following orders: (i) Standards of Weights & Measures act 1976. (ii) Consumer protection act, 1986. (iii) Infant milk substites Act 1992 & 1993 (iv) Insecticide act 1968. (v) Export Quality control & inspection) Act 1963 (vi) Milk & milk products order, 1992. (vii) Environment Protection Act 1986
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 (viii) AGMARK Act 1937, 1986 (ix) Bureau of Indian Standards Act, 1986 Multiplicity of laws & rules in dairy sector leads to lack of implementation and confusion in the minds of manufacturers and traders. The advisory and regulatory role of government towards formulation of food standards cannot be questioned. Suggestions can definitely be made. Amul’s dairy development programmes have not been fully implemented across the country in different agro-climatic zones.Opportunities • Processing raw materials for adding value: There is a vast scope for processing milk and making a variety of products from the same. Amul can come up with a diversified range of products as there is the availability of all primary resources like raw material, labour, finances etc, also with a well established brand image, Amul can produce related products and reap the profits from the same. • Globalization And increasing Export potential: Amul is exporting its various products to various countries like Bangladesh, Sri Lanka, Nigeria, and the Middle East. Opportunities for the export of Agri-products are increasing in general and the increase in export of dairy products is also expected. Globalization has integrated the world market and has increased opportunities of various companies like Amul. • Diversification into related products: Amul can diversify into related products which may be already in the market; it may take a large chunk of the market share from the existing producers due to its brand image, which can help in generating the sales for its newly launched products. Biscuits, sports drinks, packaged sweets are potential products that can be launched by Amul successfully. • Innovation: Innovation is an opportunity to any firm to increase its market share, product diversification and market segmenting. Amul being one of the largest dairy firms in India, it is its responsibility to bring about technological advancements in the dairy industry and owing to its size Amul can do it quite easily.Threats • Milk vendors can degrade the quality of raw milk: Milk vendors can pose a threat to the company as they are only concerned with the profit they are going to earn from milk. The quality of the milk is found to be poor as compared to the international standards. Companies like Amul have now to check the milk properly before it is sold to the end consumer.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 • Threat from the global companies: Due to globalization a large number of multinational companies may get attracted towards manufacturing their products in India due to abundant availability of raw materials and cheap labour force, which may increase the competition for Amul. It may create shortage of milk in our country and can adversely affect the companies like Amul and the increase in the price due to shortage of milk may affect the end consumer. • Use of technology by foreign companies and quality consciousness of foreign consumer: Foreign companies are having improved technology like the collection of milk from cattle can be done with the help of machines this leads to efficiency in terms of less wastage of time and, further it is automatically disposed to various channels for processing or packaging of milk, ultimately this helps in higher productivity involving less variable costs of labour and ultimately low cost of production. However this type if system is not yet prevailing in India. Many European customers emphasize on the collection of milk through machines due to their quality consciousness. Because of these reasons they are reducing the market potential of Indian milk products.The study of this SWOT analysis displays that the strengths and opportunities of Amul outweigh itsweaknesses and threats. Amul has a big market share in India where as in European nations it can createits market demand by making the products which satisfy their standards.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1AMUL’s StrategiesAmul’s business strategy is driven by its twin objectives of: (i) Long-term, sustainable growth to its member farmers (ii) Value proposition to a large customer base by providing milk and other dairy products a low price.Its strategy, which evolved over time, comprises of elements described below:Simultaneous Development of Suppliers and CustomersFrom the very early stages of the formation of Amul, the cooperative realized that sustained growth forthe long-term was contingent on matching supply and demand. Further, given the primitive state of themarket and the suppliers of milk, their development in a synchronous manner was critical for thecontinued growth of the industry. The organization also recognized that in view of the poor infrastructurein India, such development could not be left to market forces and proactive interventions were required.Accordingly, Amul and GCMMF adopted a number of strategies to assure such growth. • At the time Amul was formed, the vast majority of consumers had limited purchasing power and was value conscious with very low levels of consumption of milk and other dairy products. Thus, Amul adopted a low price strategy to make their products affordable and guarantee value to the consumer. The success of this strategy is well recognized and remains the main plank of Amuls strategy even today. • The choice of product mix and the sequence in which Amul introduced its products is consistent with this philosophy. Beginning with liquid milk, the product mix was enhanced slowly by progressive addition of higher value products while maintaining desired growth in existing products. Even today, while competing in the market for high value dairy products, GCMMF ensures that adequate supplies of low value products are maintained.On the supply side, as mentioned earlier, the member-suppliers were typically small and marginal-farmers had severe liquidity problems, were illiterate and had no prior training in dairy farming. Amuland other cooperative Unions adopted a number of strategies to develop the supply of milk and assuresteady growth. • First, for the short term, the procurement prices were set so as to provide fair and reasonable return. • Second, aware of the liquidity problems, cash payments for milk supply was made with minimum of delay. • For the long-term, the Unions followed a multipronged strategy of education and support. For example, only part of the surplus generated by the Unions is paid to the members in the form of dividends. A substantial part of this surplus is used for activities that promote growth of milk supply and improve yields. These include provision of 12 veterinary services, support for cold storage facilities at the village societies etc.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1 • In parallel, the Unions have put in place a number of initiatives to help educate the members.To summarize, the dual strategy of simultaneous development of the market and member farmers hasresulted in parallel growth of demand and supply at a steady pace and in turn assured the growth of theindustry over an extended period of time.Cost LeadershipAmul’s objective of providing a value proposition to a large customer base led naturally to a choice ofcost leadership position. Given the low purchasing power of the Indian consumer and the marginaldiscretionary spending power, the only viable option for Amul was to price its products as low aspossible. This in turn led to a focus on costs and had significant implications for managing its operationsand supply chain practices.Focus on Core ActivitiesIn view of its small beginnings and limited resources, it became clear fairly early that Amul would not bein a position to be an integrated player from milk production to delivery to the consumer. Accordingly, itchose a strategy to focus on: • Core dairy activities • Rely on third parties for other complementary needs.This philosophy is reflected in almost all phases of Amul network spanning R&D, production, collection,processing, marketing, distribution, retailing etc.For example, Amul focused on processing of liquid milk and conversion to variety of dairy products andassociated research and development. On the other hand, logistics of milk collection and distribution ofproducts to customers was managed through third parties. • Proactive role in making support services available to its members wherever it found that markets for such services were not developed. For example, in the initial stages, its small and marginal member farmers did not have access to finance, veterinary service,knowledge of basic animal husbandry etc. Thus to assure continued growth in milk production and supply, Amul actively sought and worked with partners to provide these required services. In cases where such partnerships could not be established, Amul developed the necessary capabilities and provided the services.Managing Third Party Service ProvidersWell before the ideas of core competence and the role of third parties in managing the supply chain wererecognized and became fashionable, these concepts were practiced by GCMMF and Amul. From thebeginning, it was recognized that the core activity for the Unions lay in processing of milk and productionof dairy products. Accordingly, the Unions focused efforts on these activities and related technologydevelopment. Marketing efforts (including brand development) were assumed by GCMMF.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1All other activities were entrusted to third party service providers. These include logistics of milkcollection, distribution of dairy products, sale of products through dealers and retail stores, someveterinary services etc.It is worth noting that a number of these third parties are not in the organized sector, and many are notprofessionally managed. Hence, while third parties perform the activities, the Unions and GCMMF havedeveloped a number of mechanisms to retain control and assure quality and timely deliveries. This isparticularly critical for a perishable product such as liquid milk.Financial StrategyAmul’s finance strategy is driven primarily by its desire to be self-reliant and thus depend on internallygenerated resources for funding its growth and development. This choice was motivated by the relativelyunderdeveloped financial markets with limited access to funds, and the reluctance to depend onGovernment support and thus be obliged to cede control to bureaucracy.Amul’s financial strategy may thus be characterized by two elements: • Retention of surplus to fund growth and development • Limited/ no credit, i.e., all transactions are essentially cash only.For example, payment for milk procured by village societies is in cash and within 12 hours ofprocurement (most, however, pay at the same time as the receipt of milk). Similarly, no dispatches offinished products are made without advance payment from distributors etc. This was particularlyimportant, given the limited liquidity position of farmer/suppliers and the absence of banking facilities inrural India.This strategy strongly helped Amul implement its own vision of growth and development. It is importantto mention that many of the above approaches were at variance with industry practices of both domesticand MNC competitors of Amul.Recommendations on future strategiesExpansion of processing and packaging capacityThe company should plan on its expansion and through expansion the company should create freshavenues for growth by catering to the rising demand for new products, this would include increasing thecapacity for major product categories including milk powders, Ice-cream, paneer, cheese, curd, ghee andother dairy products. Milk drying capacity will also be enhanced. In order to strengthen the presence ofcompany in the large market, for liquid milk Special emphasis will be given to metropolitan cities. Thecompany should plan to double its processing capacity of its plants to ~21 million kg per day. The basicraw material of Amul products is milk and for increasing milk production nutritious feed should beprovided to animals. For this very purpose the company is planning to expand its cattle feedmanufacturing capacity by 2020. Amuls achievement of its mission will not only be beneficial for theorganization but it will be helpful for the development of economy as a whole.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1Health conscious product line Sugar free chocolates and ice-creams - The health-conscious people usually avoid chocolates and ice-creams fearing weight problem and diabetes. It is estimated that with 50.8 million people living with diabetes, India has the worlds largest diabetes population. By 2025, it is projected that there will be around 80 million people in India suffering from this disorder. Also, published in the Lancet by the Organisation for Economic Co-operation and Development (OECD), the study has found that between 1998 and 2005, Indias overweight rates increased by 20%. The market potential for these product categories is untapped in India though awareness level about sugar-free products is increasing dramatically in urban areas. We are aiming for diabetic patients as well as the age group of 25-45 years who are looking for an alternative product to regular chocolate bars. GCMMF is also planning to launch Yogi, a fruit flavoured yoghurt brand, in strawberry, mango and pineapple. The product will cater to the youth and the health conscious. " Probiotic ice cream - Amul is all set to storm the Ice cream market with a new range of probiotic ice cream aimed at the total health conscious. To give a background of the need of probiotic products, the gut microflora actively plays a role in health maintenance by modulation of immune system, protection from pathogens and virus invasion through gastrointestinal tract. Amul probiotic wellness ice-creams have been made to confer the health benefit of these probiotics. They improve immunity, improve digestion, prevent gut infection, and manage traveler’s diarrhea.Marketing and advertising strategyIn order to increase its market share in the future, following strategies would help Amul to do betterbusiness In future: Initiative of the marketing team to tap key consumer outlets - Amul representatives should seek to tap gymnasiums and centers for other physical activities to create an impact. Also, they can choose sportsmen and athletes as an important target segment. They should have sportsmen as their brand ambassadors. Exclusive distribution - Amul can choose to have prominent distributors who sell only Amul’s products. This will create a stronger push in favour of the new product with the involvement of a dedicated distribution channel. Shelf Positioning - The new product products should be placed prominently in distribution outlets to catch the attention of customers. The benefits associated with the use of Amul should be highlighted by means of promotional features. De-centralization of sales units - If sales units are decentralized, there will be better focus on a city- to-city basis. The responsibility then falls on each unit to create distribution, promote the product effectively and develop targeted marketing plans.
ORGANISATIONS- THEORY AND PRACTICE PROJECT – WORKSHEET 2 Group B1References:Pankaj Chandra, Devanath Tirupati, “Business Strategies for Managing Complex Supply Chains in LargeEmerging Economies: The Story of AMUL”, Indian Institute of Management, Vastrapur, Ahmedabad,April, 2003Lalitha Srinivasan, “Amul scripts fresh growth strategy to take on rivals”, The Financial Express, June 19.2008. [url=http://www.financialexpress.com/news/amul-scripts-fresh-growth-strategy-to-take-on-rivals/324729/]Company Report, “Amul plans sugar-free chocolates, ice-creams”, FnB News, Dec 23, 2003[url=http://www.fnbnews.com/article/detnews.asp?articleid=19599§ionid=7]Amul Prolife Probiotic Wellness ice cream - India’s First Probiotic Ice cream,[url=http://toi.amul.com/icecream/aprobioticwellness1.html]“Amul as a brand name”, [url=http://www.ukessays.com/essays/marketing/amul-as-a-brand-name.php]Alok Jha, Amit Patel, Pranav K Singh, “Souvenir National Workshop on Entrepreneurship Developmentin Dairy and Food Industry”, National Dairy Research Institute, Karnal, December 23, 2005“Diabetes facts”, March 15, 2012, [url=http://www.worlddiabetesfoundation.org/composite-35.htm]“India in grip of obesity epidemic”, Times of India, Nov 12, 2010[url=http://articles.timesofindia.indiatimes.com/2010-11-12/india/28245306_1_obesity-india-and-china-overweight-rates]“Dairy Development”, National Dairy Plan 2007-08 to 2020-21, Department of Animal Husbandry,Dairying and Fisheries, Ministry of Agriculture, Government of India[url=http://dahd.nic.in/dahd/division/dairy-development.aspx]“Diabetes: The 21st century epidemic”, Global Diabetes Research Centre[url=http://www.globaldiabetes.org/background.html]“About Us - The Amul Model”, [url=http://www.amul.com/m/about-us]“Organisation”, [url=http://www.amul.com/m/organisation]“Cost of living: Delhi tops chart in India”, Feb 17, 2012[url=http://articles.timesofindia.indiatimes.com/2012-02-17/delhi/31070708_1_expenditure-urban-areas-rent]