ITC Plans Rs 20,000 Crore Business Expansion, Confirms Chairman Sanjiv Puri
ITC's Chairman Sanjiv Puri announced a Rs 20,000 crore investment for business growth at the AGM in Kolkata. The company aims to boost Make in India initiative and expand manufacturing assets. Puri emphasized the need to redefine growth and embrace 'compassionate capitalism'.
FMCG major ITC's Chairman Sanjiv Puri announced plans to invest Rs 20,000 crore to expand business operations. The company aims to boost Make in India initiative with 40 manufacturing assets. Puri highlighted challenges and emphasized the need to redefine growth and embrace compassionate capitalism.
ITC's revenue from non-cigarette business has grown significantly. The FMCG segment's revenue increased from Rs 14,700 crore to around Rs 22,000 crore. The foodtech business is a key focus for future growth, showing a CAGR of 108 percent in three years.
ITC Chairman stressed the importance of strategic supply chain decisions and new brand launches to drive value accretion. Despite challenges, the outlook remains positive with a focus on reforms.
According to the source: Moneycontrol.
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