In his AGM address Sanjiv Puri, chairman, and managing director, ITC, shared his vision on ITC Next: reimagining business for the redefined future. Relevant excerpt from the speech is below:
Moving to the ITC Next horizon, the business is pioneering a planet-friendly initiative through fiber-based solutions, including molded fiber technologies for specialized packaging, leveraging its existing proprietary R&D platforms and global collaborations. The business has launched a sustainable packaging portfolio comprising recyclable paperboards, under the ‘Filo’ and ‘Omega’ series to substitute single-use plastics. This segment offers immense opportunities with the global biodegradable packaging market estimated to grow to nearly US$ 121 billion (approximately Rs 898 crore) by 2025.
ITC’s paperboards, paper, and packaging business has made significant progress with recent strategic investments in areas such as pulp import substitution, proactive capacity addition in value-added paperboards as well as in extensive use of Industry 4.0 to drive a new paradigm of quality and efficiency.
The paperboards business derives competitive strengths from its integrated business model that encompasses a secure and renewable fiber chain as well as a one-stop packaging solutions provider. ITC has spearheaded an afforestation program that has greened over 8,75,000 acres, supporting 160 million person-days of employment, besides enabling large-scale import substitution.
ITC’s upcoming strategy
An extensive strategy reset has been undertaken to architect the structural drivers that will power ITC’s next horizon of growth and ensure that the enterprise remains future-oriented, consumer-centric, and nimble. Each of ITC’s businesses has pivoted to create new frontiers for the future, with enhanced competitiveness as well as a sharper focus on cost management to strengthen leadership or rapidly attain the top positions in the case of newer segments.
As a core element of the ITC Next strategy, ITC will continue to explore opportunities to craft disruptive business models anchored at the intersection of digital and sustainability, the two defining trends in the ‘new normal’, leveraging its institutional strengths.
IndiFoodBev — authentic, impactful and influential
An English-language food and beverage processing and packaging industry B2B platform in print and web, IndiFoodBev is in its third year of publication. It is said that the Indian food and beverage industries represent approximately US$ 900 billion in revenues which implies more than 20% of the country’s GDP. Eliminating the wastage on the farmside can help to deliver more protein to a higher number of the population apart from generating sizable exports. The savings in soil, seeds, water, fertilizer, energy and ultimately food and nutrition could be the most immense contribution that country is poised to make to the moderation of climate change.
To improve your marketing and grow sales to the food and beverage processing and packaging industry, talk to us. Our research and consulting company IppStar [www.ippstar.org] can assess your potential and addressable markets in light of the competition. We can discuss marketing, communication, and sales strategies for market entry and growth.
Suppliers and service providers with a strategy and budget for targeted marketing can discuss using our hybrid print, web, video, and social media channels to create brand recognition linked to market relevance. Our technical writers are ready to meet you and your customers for content.
The second largest producer of fruit and vegetables in the world is continuously expanding processing capacities and delivery systems with appropriate innovative technologies. We cover product and consumer trends, nutrition, processing, research, equipment and packaging from farm to thali. Get our 2025 media kit and recalibrate your role in this dynamic market. Enhance your visibility and relevance to existing markets and turn potential customers into conversations. Ask for a sample copy of our bi-monthly in print or our weekly IndiFoodBev eZine each Wednesday.
For editorial info@ippgroup.in — for advertisement ads1@ippgroup.in and for subscriptions subscription@ippgroup.in
Naresh Khanna – 10 February 2025
Subscribe Now
