The diverse conglomerate ITC, chaired by Sanjiv Puri, intends to invest Rs 20,000 crore over the next five years in a number of areas. The FMCG industry will receive the most investment, followed by paper board, packaging, and other industries.
ITC is also launching Right Shift, a new brand for the health and wellness industry. Following the AGM, Puri announced that it will invest around 35-40% (or Rs 7,000-8,000 crore) of the budgeted amount in FMCG. Thirty to thirty percent of the investment would go into paper board and packaging, with the remaining portion going toward other ventures, like as agriculture.
The funds will be used for innovation, upgrading, and capacity augmentation. Puri stated that three to four regions will see investments in FMCG. Aside from new locations and new items, it would be in Integrated Consumer Goods Manufacturing and Logistics (ICML) facilities to lower the cost of delivery.
Puri clarified that although there would be some inorganic components, the investments to mostly be of an organic character. Speaking more about the intentions for paperboard, he stated that ITC was trying to find a new place for the company. "We have a whole site in Bhadrachalam. We need to find alternative locations, and we're working on that," he continued.
