ITC to Invest ₹.20,000 crore!
ITC to Invest ₹.20,000 crore has announced investment plan over the next five years to enhance its manufacturing capabilities and competitiveness across various sectors. The announcement was made by Chairman and Managing Director Sanjiv Puri during the company’s 113th Annual General Meeting (AGM) on July 26, 2024. Below are the key details of the investment plan based on available information:
Lava Blaze Dragon 5G Budget-Friendly SmartPhone
Investment Allocation:
FMCG (Fast-Moving Consumer Goods):
Approximately 35-40% of the total investment (Rs 7,000-8,000 crore) will be directed toward the FMCG sector. This includes:
- Building Integrated Consumer Goods Manufacturing and Logistics (ICML) facilities to reduce delivery time and costs.
- Launching new products in segments like health and nutrition, hygiene, convenience, and indulgence.
- Expanding and upgrading existing capacities to strengthen ITC’s portfolio, which reaches over 260 million households with an annual consumer spend of over Rs 34,000 crore.
Paperboards and Packaging:
Around 30-35% (Rs 6,000-7,000 crore) will be allocated to this segment. Key initiatives include:
- Establishing a new greenfield manufacturing site, as the existing Bhadrachalam facility in Telangana is at full capacity.
- Enhancing sustainable packaging solutions, such as the ‘Filo’ brand, aimed at replacing single-use plastics.
- Investments in renewable energy and advanced facilities like India’s first bleached chemi-thermomechanical pulp facility.
Renault Triber Facelift Launched in India 2025
Strategic Objectives:
- ITC Next Strategy: The investment aligns with ITC’s “ITC Next” strategy, focusing on building a future-ready portfolio through organic and inorganic growth, innovation, and sustainability.
- Bharat First Approach: ITC prioritizes deepening its domestic presence before significant overseas expansion, capitalizing on India’s projected economic growth, with per capita income expected to exceed $4,000 by 2030.
- Sustainability and Innovation: The plan includes investments in sustainable practices, such as renewable energy and eco-friendly packaging, alongside digital transformation initiatives to enhance operational efficiency.
- Capacity Expansion: ITC has already set up eight new manufacturing facilities in recent years and plans to continue expanding its footprint, including a new paperboard facility and ICMLs for FMCG.
- Economic Contribution: Over the past four years, ITC’s operations have added approximately Rs 2,42,000 crore in value, with over Rs 1,61,000 crore contributed to the exchequer, highlighting its significant economic impact.
Leave a Reply