Fast-moving consumer goods (FMCG) major, ITC Ltd has run into land problems over its farm initiative in West Bengal, ITC chairman YC Deveshwar said here on Friday.
For West Bengal, the Kolkata-based ITC had announced a Rs1,500-crore investment plan that includes setting up an experimental farm to train the state’s farmers.
“We need around 100 acres to begin with, but we have not got anything so far,” Deveshwar told reporters after the 96th annual general meeting of its shareholders. Hinting at the “controversies” over land dogging some other big investors here, Deveshwar said ITC’s needs were modest. He said he expected ITC’s land issue to be resolved soon, especially since it would help small and marginal farmers. ITC plans to set up an experimental farm to help farmers improve their productivity and the also the quality of their produce, and also have food processing, Deveshwar said.
“Alongside, there would be the logistics infrastructure to move goods in and out of West Bengal, and also within West Bengal,” he said. “But so far we haven’t had the advantage of that land we are looking for,” he said. “But as soon as that come our way, we are keen and ready to make an investment of that order.”
ITC is also investing in another hotel next to its ITC Sonar Bangla hotel here. “At the end of the day, West Bengal must industrialise,” Deveshwar said, as it would be the only way in the long term to create jobs. The land problem is not peculiar to West Bengal?Deveshwar admitted that ITC is facing land problems across the country.