ITC hopes to generate revenue boost from FMCG segment

ITC Ltd sees growth opportunity in the fast moving consumer goods (FMCG) space as it is expanding the portfolios in the segment, a company official said on Monday.

Company CEO Sanjiv Puri said “Opportunity is the biggest in the FMCG segment. That is where our internal capabilities can be leveraged. We will look at newer and newer areas as we go along. Earlier, we went into sea food and before that, into B-Natural juices. We have also forayed into the dairy segment with ghee and dairy whitener. It is a continuous expansion of portfolio that we are doing. In the recent World Food India, the company announced investment of Rs 10,000 crore in the food processing sector apart from ongoing investments of Rs 25,000 crore in various sectors”.

Speaking on the Goods and Services Tax (GST), the ITC official said “by and large, trade has normalised under the new indirect tax regime. "But, there may still be some minor issues in wholesale."