Times News Network

MUMBAI : ITC Ltd, which has interests in tobacco, paperboard and hotels, is now moving into the premium food segment. The large conglomerate has begun marketing its premium packaged gourmet food in the Mumbai market, signifying an extension of its synergies in the food and hospitality business.

ITC’s endeavour is to define and carve out the hitherto amorphous and ill-defined packaged gourmet foods segment of the Indian food market, estimated to be worth a whopping Rs.100,000 crore. According to Mr. R.S. Naware, executive vice-president and chief executive of the foods business, the extension into gourmet foods was natural for the company, which had built up a reputation in the hospitality sector. The first offering in the gourmet section is `dal bukhara’ a popular dish in the Bukhara restaurant at ITC’s hotel in New Delhi. Also on the list are `kundal kalia’ and `chicken chettinad’, to be followed by vegetable kormas.

Mr. Naware said that the gourmet foods – which will be packaged by a supplier – will soon be produced by ITC on its own machines. He placed the domestic sales of this segment of the food business at Rs 5 crore in the first year and pegged the export potential at Rs 25 crore.

"We will initially target our goods at the NRI segment in various countries. Later, we will also aim for the general markets in the U.S. and Europe. The trend to try out Indian fare in European countries in increasing, he stated.