Economic liberalisation has thrown up significant opportunities and challenges for the
Indian industry. Foremost among them, is the globalisation of the Indian market, leading
to the growing sophistication of the Indian consumer. Rise in disposable incomes, changing
attitude towards consumption and the increasing exposure to global lifestyles through the
electronic media have powerfully combined to create newer and bigger markets of consumers
who demand products and services of international standards. As per the estimates of the
National Council for Applied Economic Research, the Indian middle-class has grown two and
a half times between 1995-96 and 2001-02.
In keeping with its mission of delivering
world-class performance, ITC has focused on achieving international standards in cost,
quality and productivity in all its businesses. This is particularly true for ITCs
Paperboards, Specialty Papers and Packaging business which provides international-class
paperboards and packaging to a diverse range of industry customers.
ITCs paperboards and packaging
support some of the biggest brands in India, including the Companys own leading FMCG
brands. They feature on every supermarket shelf and retail outlet, straddling all
carton-consuming segments including foods, beverages, pharma, personal care &
toiletries, durable goods and matches a testimony to ITCs undisputed
leadership in value-added packaging.
This success did not come easily. Behind it
lies a saga of business transformation. Of embracing a difficult and challenging corporate
strategy. Of delivering a demanding execution plan. Of going beyond the call of duty by a
team with the grit and courage to swim against the tide.
The story began over two and a half decades