The ITC Way

With India First and other dynamic strategies, ITC is taking giant strides to grow at a greater pace.

 

- Kumar Rahul

ITC has planned to continue diversification into new areas with agri-business set to play a key role. This is a part of the fast-moving consumer goods (FMCG) company's India First strategy, under which it aims to create 1 crore sustainable livelihoods by 2030.

The Kolkata-headquartered diversified business conglomerate is all set to start selling potatoes and onions as it is in the process of bringing "one more commodity to the market every few months". It is also assembling a team for its foray into the healthcare sector.

"We would like to go forward with growing contribution to the economy on areas of national priorities. One of the objectives is to make growing contribution to the economy, which means getting into newer segments," notes ITC Chief Executive Officer (CEO) and Executive Director (ED) Sanjiv Puri. He adds that ITC's strategic objective will be to move beyond "shareholder value to societal value, building on the foundation of shareholder value".

ITC now has 58 per cent of its revenue from the non-tobacco segments, which are FMCG, hotel, agri-business, paper and paper board as a part of its diversification strategy. In hospitality, ITC, one of the youngest players in the segment, is investing to build nine new hotels in India and one in Sri Lanka. The company had turnover of Rs 55,002 crore in 2016-17. "Our non-tobacco revenues today are 58 per cent, and it is the diversification which we are really trying very hard that is evident from the fact that nearly 80 per cent of our capital employed is in the non-tobacco segment," notes Mr Puri.

India First