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ITC to invest Rs 20,000 crore in 5 years to expand FMCG and paperboard capacity.
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35-40% of investment to focus on FMCG, 35% on paperboard and packaging.
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Investment aimed at building integrated consumer goods manufacturing and logistics facilities.
ITC Ltd. has announced a Rs 20,000 crore investment plan to expand its capacities in fast moving consumer goods (FMCG), paperboard, and other businesses over the next five years. Chairman and Managing Director Sanjiv Puri revealed that the investment will be focused on building integrated consumer goods manufacturing and logistics facilities to reduce time and distance between factory and market.
The company will invest Rs 7,000-8,000 crore in FMCG, Rs 7,000 crore in paperboard and packaging, and the rest in other business segments and corporate. ITC aims to expand its rural market presence and mitigate the impact of inflation on demand. Despite challenges, the company remains optimistic about the rural market’s potential, citing a good monsoon as a key factor for revival.
ITC’s investment plan comes amid a challenging economic environment, with food inflation remaining sticky. However, the company is committed to expanding its capacities to meet growing demand and strengthening its position in the market.
