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'Innovation to drive ITC growth'

HT Correspondent, Hindustan Times

Email Author
New Delhi, August 24, 2010

First Published: 23:27 IST(24/8/2010)

Last Updated: 23:31 IST(24/8/2010)

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 Focus on value creation

ITC turned 100 years old on Tuesday.

The company sees opportunities to

ITC, which completed 100 years on Tuesday, has come a long invest R8,000 cr over 7-10 years in the
way from being a pure tobacco company to become a well- FMCG sector.
diversified, fast-moving-consumer-goods company (FMCG)
ITC plans to leverage its
and is eyeing major investment opportunities over the next
decade to spur growth in these areas. Its growth mantra: E-Choupal infrastructure to widen its
FMCG network.
Innovation.
The Harvard Business School had taken
"Innovation should be a source for creating consumer delight
up e-Choupal as a case study in 2004.
as well as triple bottomline performance so as to generate
greater value for the shareholder and the society at large," The company is looking at investing
ITC Chairman Y.C. Deveshwar told the company's 29,000 heavily in paper, paperboards and
employees across the country through a webcast at its packaging businesses.
centenary event from Kolkata on Tuesday.
The global anti-tobacco movement and
"The prime focus should always be on value creation for the heavy taxation on cigarettes prompted
Indian society and this is best achieved by creating ITC to diversify into other businesses.
sustainable livelihoods and replenishing natural capital."
Now ITC is present in food products,
The R26,863 crore company is eyeing investment prospects hotel and restaurants, commercial
of R8,000 crore over the next seven to 10 years in the FMCG complexes, computer software, trading
sector, spanning apparel, branded packaged foods, and finance — and cigarettes.
education, stationery products, safety matches and incense
sticks and more recently personal care products.

"I can sight an investment opportunity for ITC of upto R8,000 crore over the next seven to 10 years to
drive growth in this sector," Deveshwar had said at the company's annual general meeting last month.

ITC's agri-business, with the unique e-choupal infrastructure — a web based information and
procurement tool for farmers — will be progressively leveraged to widen the company's FMCG network.

The Harvard Business School had taken up e-Choupal as a case study in 2004.

The company also expects to have up to 60 new hotel properties operational in the next three to four
years.

"So in the next three to four years ITC will have up to 60 new properties operational," ITC Ltd Chief
Executive Hotels Division Nakul Anand told PTI on the sidelines of Hoteliers Conclave here.

At the firm's AGM last month, Deveshwar had stated that the Indian hospitality sector offered
investment opportunity of up to R9,000 crore in next seven to 10 years.

"At conservative estimates, India needs 50,000 rooms in the next two-three years. This sector, too,
carries an investment opportunity of up to R9,000 crore in next 7-10 years to fuel growth," Deveshwar
had said.
Slower growth in cigarettes business with the global anti-tobacco movement gaining momentum and
the heavy taxation policy followed by the government for cigarettes prompted ITC to diversify into other
businesses.

Today, its business spawns across several subsidiaries engaged in various business activities such as food
products, hotel and restaurants, commercial complexes, computer software, trading and finance among
others.

The company is looking at investing heavily in paper, paperboards and packaging business. "I can sight
an investment opportunity of up to R6,000 crore to secure growth (in paper)," Deveshwar had said.

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