'Optimistic about India story; our plans are aligned with it

ITC emerged as the country's largest company in the food space in the nine-month period ended September 2023. HEMANT MALIK, executive director of ITC and in charge of the foods business, in a video interview with Ishita Ayan Dutt, discusses a wide range of issues - from growth strategy, and climate challenges to aspirations for its largest FMCG brand, Aashirvaad. Edited excerpts:

The FMCG sector faced challenges in FY24, what is the outlook for ITC Foods in FY25?

Our objective is to ensure industry-leading growth and we have put in place a robust multi-pronged strategy to achieve it. This year, we will continue to leverage emerging opportunities across categories and focus on the superior execution of our growth plans and strategies.

Irrespective of whether we experience tailwinds or headwinds, the market opportunities for our various food categories in India are very large. We will ensure that we create differentiated value propositions to expand the market, driven by superior insight, innovation and distribution.

Although we are a large food company, there is still significant headroom for growth in many of our existing categories. In addition, there are many sub-segments that we still don't operate in. So, there are spaces for us to foray into.

The FY25 scenario is likely to be tougher.

The unpredictability with regard to the supply chain is likely to continue and the threat of climate risks is only going to intensify. It is also to be seen how rural consumption picks up. We are very optimistic about the 'India story', and our plans are also aligned with the nation's growth trajectory.