ITC is planning to launch 30-40 new products every year and to look into more consumer categories in a bid to become India’s biggest Fast Moving Consumer Goods (FMCG) company.
The company is also planning to plug gaps in its portfolio but will only acquire brands that can be scaled up using its own distribution network. The company is strengthening its existing categories and venturing into new ones to achieve revenue target of Rs 1 lakh crore by 2030 from the new FMCG businesses.
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.
