"ITC chairman Puri predicts victories in future markets; affirmatively repeats a Rs 20,000 crore investment aim"
ITC Limited Expands Wellness Brands Portfolio and Invests in Research and Development
ITC Limited, a leading Indian conglomerate, is making strategic moves to harness its institutional synergies and seize emerging opportunities. The company's chairman, Sanjiv Puri, has stated that ITC is at a pivotal inflexion point.
In line with this, ITC is building a portfolio across all its businesses to win the markets of tomorrow. This strategy focuses on fortifying the core, addressing value-added adjacencies, and nurturing new vectors of growth aligned to emerging trends.
One of the key areas of focus is the company's agri-product vertical, which includes grain, spices, coffee, oilseeds, and leaf tobacco business. ITC is investing on a large scale in Research and Development (R&D) endeavors aimed at developing proprietary formulations for specialised value-chains.
However, specific details about ITC's R&D investments and their impact on developing proprietary formulations for specialized value-chains are not readily available in the public domain. It is understood that these R&D investments focus on creating crop protection formulations, seeds, and value-added agri-products catering to specialized value chains such as sustainable agriculture, integrated pest management, and consumer packaged goods.
In the consumer goods sector, ITC is expanding its wellness brands portfolio, adding 100 new products in the category by FY25. One such brand is ITC Master Chef, which offers a range of frozen food products, including over 80 Indian and Western Snacks, Indian breads, Prawns, and Vegetables. The ITC Master Chef brand has gained encouraging consumer traction.
Last year, ITC announced a capital expenditure of Rs 20,000 crore for medium-term growth. This investment will be used to set up eight manufacturing plants to scale its operations across FMCG, paperboard, and other verticals.
Puri's address emphasizes the need for novel strategies, innovations, and solutions for the future. He believes that future readiness involves anticipating, innovating, and proactively shaping the future. ITC Next Strategy, as per Puri, aims to redefine the next horizon of growth and competitiveness.
In conclusion, ITC Limited is making significant investments in R&D and expanding its product portfolio to remain competitive and seize emerging opportunities. While specific details about ITC's R&D investments are not readily available, it is clear that the company is committed to innovation and growth across its various businesses. For authoritative, detailed insights on ITC's R&D investments and their impact on proprietary formulations and specialized value-chains, consulting ITC Limited's official annual reports, sustainability disclosures, or dedicated corporate innovation communications is recommended.
- ITC Limited, in its bid to lead the market, is focusing not only on its core businesses but also on value-added adjacencies, as evidenced by its investments in Research and Development (R&D).
- Puri's strategic vision for ITC Limited encompasses future-ready initiatives, such as expanding product portfolios and making substantial R&D investments, in an effort to be at the forefront of emerging trends.
- To enhance its consumer goods sector offerings, ITC Limited is developing its wellness brands portfolio and has announced plans to launch 100 new products by FY25.
- Besides its emphasis on the consumer goods sector, ITC Limited is also expanding its agri-product vertical through large-scale R&D investments, with the aim of creating proprietary formulations for specialized value-chains.
