ITC Life Sciences and Technology Centre, the company’s R&D and innovation hub, in Bengaluru celebrated a milestone of completing five decades of scaling new frontiers in research & development and innovation. “This transformational journey of 50 years is testimony to the deep commitment of ITC to nurture a culture of innovation as well as explore science-led growth opportunities for its businesses,” the company said in a statement.
It said that the company has made focussed investments over the years in scientific talent, world-class infrastructure and collaborations. “LSTC has served as the hub for the innovation ecosystem of ITC. Several vibrant Centres of Excellence have been established in domains like Bio-, Agri- & Materials Sciences, whilst market-led platforms have been created in health & wellness, nutrition, hygiene, agro and crop sciences, as well as sustainable packaging, among others to cater to the constantly evolving needs of consumers,” it said.
With a team of scientists who collectively have over 4,000 years of rich R&D and innovation experience, the Centre has been ranked as a top innovator in India in the private sector with over 800 patent applications filed. ITC-LSTC has developed a range of unique innovations right from the world’s smoothest chocolate to gel bar soaps to sustainable packaging solutions and to significantly improving crop yields, the company informed, adding that it has launched over 300 products in the last 3 years.
Delivering the keynote address during the celebration, Chairman Sanjiv Puri complimented the team at ITC-LSTC and generations of scientists who contributed to many innovations. Outlining the significance of research and innovation in a world that is confronted with polycrisis, uncertainties, permacrisis due to climate emergency, geo-political dynamics and social inequity, he said, “It is innovation, research, application of science and technology that will help us find solutions to challenging situations that we have to face. It is science that can convert certain challenges into opportunities. Science and technology can open up new pathways for growth and sustainability.”
Emphasising that there is immense opportunity for innovation in all segments of business that ITC is present in, Sanjiv Puri stated, “We have to continue to be very consumer-centric. Innovation has to be in the context of consumer needs, aspirations and problems. Building the right ecosystem within and outside is extremely important for achieving success.”
Meanwhile, Sandeep Kaul, Group Head, R&D, ITC Ltd, said, “LSTC symbolizes the spirit of ITC’s core values of innovation, excellence and consumer focus. Together we have created a legacy of excellence and I have no doubt that the next 50 years will be marked by even greater achievements as LSTC continuously marches on to actualise its vision of driving purposeful innovation”.