ITC to install around 9 factories with the mammoth investment of Rs 4000 crore
ITC to install around 9 factories with the mammoth investment of Rs 4000 crore

ITC, one of the giants of FMCG sector in India is planning to scale up its production in food products. The company is aiming to install around eight to nine manufacturing units across the country in next two-three years and these factories will be set up with a mammoth investment of Rs 4000 crore from ITC.

While taking the curtains off from the news, VL Rajesh, CEO, ITC Foods revealed that the company plans to put eight-nine massive factories over the next two-three years and it will invest about Rs 4,000 crore to manufacture products across different categories that the company operates in.

The recent ITC report reveals that the company’s packaged food division has witnessed a tremendous growth of almost 11 per cent with a turnover of Rs 7,097,49 crore (2015-16). Food is the second largest business for ITC after cigarettes.

The company, which recently expanded its new Sunfeast Farmlite biscuits portfolio catering to health conscious consumers, is looking at tapping this fast growing consumer segment.

Health segment of the biscuit market is about one per cent of industry right now but it is growing the fastest. Key approach is to have a full portfolio across segments. ITC will make a big play in this segment for sure. Its claims on health benefits are validated by its labs and research centre in Bengaluru. Company recently launched Sugar release control Aashirvaad Atta for people who have sugar issues, adds Rajesh.

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