In its centenary year, the Rs 26,000-crore FMCG-to-hotels major ITC has set sights on investment opportunities of Rs 23,000 crore over the next 7-10 years in three businesses ?? FMCG, paper, paperboards & packaging and hotels.
On the sidelines of the company?s 99th annual general meeting here on Friday, chairman YC Deveshwar said ?We are ready to grab the opportunities that the Indian economy will throw up? I can sight an investment opportunity for ITC up to Rs 8,000 crore over the next 7-10 years to drive growth in the FMCG sector.?
He said in the non-cigarettes FMCG business, foods and education and scholastic businesses would turn around this fiscal. ?The agarbatti business will make marginal profits. As for the personal care business, where we did very well this quarter, we are in for a long haul.?
?In FMCG, the growth rates are good,? he said, adding, ?the branded foods business takes a long time to build, we need to shed some blood to create the organization of tomorrow. We are looking at short, medium and long-term goals.?
