ITC Chairman and Managing Director Sanjiv Puri has announced that the diversified conglomerate will invest Rs 20,000 crore over the medium term to expand its manufacturing footprint across various sectors.
Speaking at the company’s Annual General Meeting (AGM), Puri emphasised ITC’s commitment to its ‘Bharat First’ strategy, which prioritises strengthening domestic operations over global expansion. "New brand launches are aimed at driving value accretion," Puri stated, underlining the company's continued focus on innovation and growth across categories. He noted that ITC has already established eight new manufacturing facilities in recent years as part of this expansion plan.
MD Sanjiv Puri also highlighted a strategic shift in the company's revenue composition, stating that 65% of ITC's revenue now comes from non-cigarette businesses, reflecting its diversified and evolving portfolio. The company’s presence spans FMCG, agri-business, hotels, paperboards, and packaging, apart from its legacy tobacco division.
With a strong emphasis on rural markets and domestic capacity building, ITC’s manufacturing investments are expected to generate employment, boost regional economies, and drive sustainable growth aligned with national development goals.