IT IS NOT JUST ABOUT FINANCIAL GROWTH, BUT ALSO ABOUT SUSTAINABLE, INCLUSIVE GROWTH
THE WEEK India|February 11, 2024
SANJIV PURI HAD a big pair of shoes to fill when he was chosen to succeed Y.C. Deveshwar as ITC chairman. Though he was being groomed for the role, the sheer magnitude of the responsibility could have been daunting for anyone. But Puri came with a plan that addressed the complexities of the conglomerate and its aspiration to grow bigger. In an exclusive interview with THE WEEK, he explains the role of technology, the separation of the hotel business, the growth of the FMCG segment and the India First policy. Excerpts:
RIYAD MATHEW & K. SUNIL THOMAS
IT IS NOT JUST ABOUT FINANCIAL GROWTH, BUT ALSO ABOUT SUSTAINABLE, INCLUSIVE GROWTH

Now a lot depends on AI and digital. You can open new markets and you can expand. Can you tell us some of your thinking and your new findings in this process where AI is coming along with human intelligence and the past practices?

A/ Before we get into it, let us step back a little and take a broader perspective. While the first era of diversification was about defining the portfolio and making progress, the last five years is when we have given a lot more scale and profitability to each one of these businesses.

The aspiration has always been about leadership. Not merely by size or profitability, but also about leadership in the quality of the service or the product that we deliver. That is what we have worked on in the past few years. And, of course, that has seen us define what we call ITC Next.

In ITC Next, we defined certain important vectors that were going to get us competitiveness. We see digital and sustainability becoming a mega trend in the next decade. Therefore, in our whole philosophy of growth, anything that is aligned to the mega trends of sustainability and digital is a priority for investment. That led us to get into sustainable packaging, because the world wants to move away from single-use plastics. It led us to get into ITC MAARS, which is a digital platform in the agri sector.

We also defined different pillars of competitiveness. First, I believe that despite size, complexity and diversification, enterprises must remain agile and consumer-centric.

Denne historien er fra February 11, 2024-utgaven av THE WEEK India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra February 11, 2024-utgaven av THE WEEK India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA THE WEEK INDIASe alt
What Will It Take To Clean Up Delhi Air?
THE WEEK India

What Will It Take To Clean Up Delhi Air?

IT IS ASKED, year after year, why Delhi’s air remains unbreathable despite several interventions to reduce pollution.

time-read
5 mins  |
December 08, 2024
Trump and the crisis of liberalism
THE WEEK India

Trump and the crisis of liberalism

Although Donald Trump's election to a non-consecutive second term to the US presidency is not unprecedented—Grover Cleveland had done it in 1893—it is nevertheless a watershed moment.

time-read
2 mins  |
December 08, 2024
Men eye the woman's purse
THE WEEK India

Men eye the woman's purse

A couple of months ago, I chanced upon a young 20-something man at my gym walking out with a women’s sling bag.

time-read
2 mins  |
December 08, 2024
When trees hold hands
THE WEEK India

When trees hold hands

A filmmaker explores the human-nature connect through the living root bridges

time-read
3 mins  |
December 08, 2024
Ms Gee & Gen Z
THE WEEK India

Ms Gee & Gen Z

The vibrant Anuja Chauhan and her daughter Nayantara on the generational gap in romance writing

time-read
5 mins  |
December 08, 2024
Vikram Seth-a suitable man
THE WEEK India

Vikram Seth-a suitable man

Our golden boy of literature was the star attraction at the recent Shillong Literary Festival in mysterious Meghalaya.

time-read
2 mins  |
December 08, 2024
Superman bites the dust
THE WEEK India

Superman bites the dust

When my granddaughter Kim was about three, I often took her to play in a nearby park.

time-read
3 mins  |
December 08, 2024
OLD MAN AND THE SEA
THE WEEK India

OLD MAN AND THE SEA

Meet G. Govinda Menon, the 102-year-old engineer who had a key role in surveying the Vizhinjam coast in the 1940s, assessing its potential for an international port

time-read
4 mins  |
December 08, 2024
Managing volatility: smarter equity choices in uncertain markets
THE WEEK India

Managing volatility: smarter equity choices in uncertain markets

THE INDIAN STOCK MARKET has delivered a strong 11 per cent CAGR over the past decade, with positive returns for eight straight years.

time-read
3 mins  |
December 08, 2024
Investing in actively managed low-volatility portfolios keeps risks at bay
THE WEEK India

Investing in actively managed low-volatility portfolios keeps risks at bay

AFTER A ROARING bull market over the past year, equity markets in the recent months have gone into a correction mode as FIIs go on a selling spree. Volatility has risen and investment returns are hurt.

time-read
2 mins  |
December 08, 2024