In a bid to diversify revenue to non-tobacco businesses, ITC, the largest domestic cigarette maker, is reportedly in talks with Century Textile and Industries to buy its paper division.
Meanwhile, the company is aiming to garner Rs 1 lakh crore revenue from FMCG business alone by 2030. In the previous fiscal, the diversified conglomerate’s revenue from FMCG including cigarettes stood at Rs 23,555 crore.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
