<p> ITC has decided to foray into the fruits, vegetables and other perishables segment very soon as part of its efforts to reduce agri-wastages in the country.</p>.<p>“Investments are underway to create climate-controlled infrastructure for an efficient supply-chain to unlock the potential latent in this area,” ITC Chairman Y C Deveshwar said.</p>.<p> Addressing the company’s shareholders during the annual general meeting, on Friday, he said the company will create an agri-value chain that will help farmers diversify crop production as well as manage wastage. It will provide high-quality options to consumers.</p>.<p>Investments have also been made in farming for aromatic and medicinal plants, keeping in mind ITC’s focus on agri-based health and wellness products, he said.</p>.<p>The ITC Master Chef Frozen Prawns have recently been launched in select markets and will shortly be rolled out nationally.</p>.<p>These high quality ‘super safe’ prawns leverage ITC’s 45-year legacy in exporting to the most exacting markets of the world, Deveshwar said.</p>.<p>“ITC believes it is critical to invest in developing world-class Indian brands that can help create, capture and retain larger value within our country. Strong Indian food brands, with deep agri-linkages at the backend, can significantly add market-led value to India’s farm sector,” Deveshwar said.</p>.<p>In addition, the company has invested in a globally benchmarked Life Sciences & Technology Centre in Bengaluru.</p>.<p>wwWith 350 scientists, the Centre is helping shape a new future in agri-sciences and bio-sciences, contributing to value addition in the agricultural sector.</p>.<p>Around 20 state-of-the-art Integrated Consumer Goods Manufacturing and Logistics facilities are under various stages of development and will, over time, create food processing and manufacturing centres of excellence to support the scale-up of your Company’s agri-based businesses, he stated.</p>.<p>Deveshwar said ITC will be able to support over 100 lakh sustainable livelihoods by 2030, coinciding with the aspiration of registering a revenue of Rs 1,00,000 crore from the new FMCG businesses. Currently, the company’s businesses create sustainable livelihoods for over 60 lakh people.</p>.<p>ITC’s contribution to the exchequer in the past five years had aggregated nearly Rs 1,40,000 crore. Currently, as much as 74% of the value-added by your company accrues to the exchequer.</p>.<p>He said non-cigarette segments now account for 58% of the net segment revenue, having grown 18-fold since 1996, demonstrating the potential of the company’s multiple drivers of growth. “Today, the non-cigarette businesses deploy 77% of your company’s operating capital and 88% of the employee base, reflecting the radically transformed character of your company,” Deveshwar added.</p>
<p> ITC has decided to foray into the fruits, vegetables and other perishables segment very soon as part of its efforts to reduce agri-wastages in the country.</p>.<p>“Investments are underway to create climate-controlled infrastructure for an efficient supply-chain to unlock the potential latent in this area,” ITC Chairman Y C Deveshwar said.</p>.<p> Addressing the company’s shareholders during the annual general meeting, on Friday, he said the company will create an agri-value chain that will help farmers diversify crop production as well as manage wastage. It will provide high-quality options to consumers.</p>.<p>Investments have also been made in farming for aromatic and medicinal plants, keeping in mind ITC’s focus on agri-based health and wellness products, he said.</p>.<p>The ITC Master Chef Frozen Prawns have recently been launched in select markets and will shortly be rolled out nationally.</p>.<p>These high quality ‘super safe’ prawns leverage ITC’s 45-year legacy in exporting to the most exacting markets of the world, Deveshwar said.</p>.<p>“ITC believes it is critical to invest in developing world-class Indian brands that can help create, capture and retain larger value within our country. Strong Indian food brands, with deep agri-linkages at the backend, can significantly add market-led value to India’s farm sector,” Deveshwar said.</p>.<p>In addition, the company has invested in a globally benchmarked Life Sciences & Technology Centre in Bengaluru.</p>.<p>wwWith 350 scientists, the Centre is helping shape a new future in agri-sciences and bio-sciences, contributing to value addition in the agricultural sector.</p>.<p>Around 20 state-of-the-art Integrated Consumer Goods Manufacturing and Logistics facilities are under various stages of development and will, over time, create food processing and manufacturing centres of excellence to support the scale-up of your Company’s agri-based businesses, he stated.</p>.<p>Deveshwar said ITC will be able to support over 100 lakh sustainable livelihoods by 2030, coinciding with the aspiration of registering a revenue of Rs 1,00,000 crore from the new FMCG businesses. Currently, the company’s businesses create sustainable livelihoods for over 60 lakh people.</p>.<p>ITC’s contribution to the exchequer in the past five years had aggregated nearly Rs 1,40,000 crore. Currently, as much as 74% of the value-added by your company accrues to the exchequer.</p>.<p>He said non-cigarette segments now account for 58% of the net segment revenue, having grown 18-fold since 1996, demonstrating the potential of the company’s multiple drivers of growth. “Today, the non-cigarette businesses deploy 77% of your company’s operating capital and 88% of the employee base, reflecting the radically transformed character of your company,” Deveshwar added.</p>
