ITC bets big on FMCG business for growth
ITC chairman and MD, Sanjiv Puri spoke to shareholders during the company's 112th AGM. He said, there is substantial headroom for progress in the coming years.
16 Aug 2023 | By Charmiane Alexander
"India has the right enablers to become the leading economy," Sanjiv Puri of ITC
"India will remain the fastest growing economy," Sanjiv Puri, chairman and managing director, ITC said during his address at the company's 112th AGM.
"FMCG represents an area of immense potential," Puri added. He said, "Inflation is on a downward trajectory; consumption data shows signs of recovery even in rural areas.
Puri said he sees tremendous untapped potential in the agri business.
Turnover of FMCG business grew by 1.8x, said Puri. He added, "India has emerged as a "beacon of growth" at a time when the world is grappling with serious issues affecting growth across all major economies."
Puri also highlighted that ITC's FMCG brands, which include paper boards, packaging, and agricultural products, are exported to more than 100 countries, showcasing their exceptional quality on a global scale.