ITC is planning to invest around $2 billion (around Rs 14,851 crore) as part of its 'ITC Next' strategy, under which it will explore opportunities to craft 'disruptive business models'. The investment would be to beef up capacity to meet demand, to remain competitive and in technology and quality upgradation and new vectors of growth that it has identified.
Besides, ITC is also looking for acquisitions as part of its expansion plans, the spend on which will be over and above its planned investment.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
