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ITC plans to invest Rs. 25,000 cr.
The Hindu - 12 Sep 2017

Funds to help strengthen non-tobacco businesses: Puri

ITC is investing in physical infrastructure, manufacturing capabilities and digital technologies across its non- tobacco businesses which now contribute 58% of the firm’s net segment revenue in a bid to further strengthen this segment.

"We are investing Rs. 25,000 crore in 65 projects that are in various stages," Sanjiv Puri, CEO, ITC told the media at New Delhi.

Brand-building

The conglomerate will also focus on building world-class Indian brands and creating new ones in existing and new categories. There will be continuous investments in research and development, capacity creation and physical infrastructure. ITC has a few Integrated Consumer Goods Manufacturing and Logistics facilities and almost 15 more are under various stages of development. Of these, four will be commissioned in the next one year.

The paper boards division had invested about Rs. 800 crore in a bleached chemi-thermo mechanical facility - that can convert hard wood into softwood pulp, leading to import substitution.

With India processing just 2%-3% of perishables, ITC will also increase focus on fruits, vegetables, and sea food. It will offer them in fresh or enhanced shelf-life forms. "Every few months, we will bring one more commodity into the market.

"We will soon have potatoes in fresh form which will have two unique offerings: one will be low sugar and the other anti-oxidant rich potatoes... There will also be onion dehydrates in the market," Mr. Puri said.

Trials using medicinal plants and herbs were going on at a farm in Madhya Pradesh’s Sehore and several options were being examined, he said.