ITC Looks to Accelerate Growth in Non-Cigarette Businesses

ITC Ltd, the cigarettes to shampoo company, is working on an eight-point strategy to reinvent itself and accelerate growth in its non-cigarette businesses, especially branded consumer packaged foods, a segment that it entered 15 years ago, chief executive Sanjiv Puri said. 

The “create the new ITC” strategy is part of the Kolkata-based company’s plan to reach Rs 1 lakh crore in revenue from its non-cigarette packaged goods business by 2030. The growth in the branded packaged food business will be fueled by the company’s entry into fruit, vegetables and sea food segments, adding one new product every quarter.