Conglomerate ITC’s Chairman Sanjiv Puri announced company’s ambitious capex plan for the next five years at its annual general meeting (AGM). As per the announcement, ITC will invest over Rs 20,000 crore.Speaking to reporters post the conclusion of the AGM, Puri expressed confidence in India’s growth story and hailed the policies announced in the Union Budget 2024. He said, “We remain quite optimistic about the opportunities available in India. Positive steps are being taken to bolster India’s growth story which was impressive in last financial year with over 8 per cent growth.”To better leverage the opportunity, the company has planned several investments in the next few years. Around 35 to 40 per cent of investments will be in the fast moving consumer goods (FMCG) segment while 30 to 35 per cent will go to expansion in paperboards and packaging space. The balance will be invested in agriculture and other business activities. “Investments in the FMCG segment will go into enhancing machinery and improving quality of products,” Puri explained. Also Read | Sanjiv Puri Talks About Need to Boost Rural IndiaApart from the focus in India, ITC also aims to go big in the international market to increase reach of its products and services. He said, “The international business will be expanded in phases. In the first phase, we have put distribution networks in several international markets and have seen positive results in some pockets. We aim to export to around 70-80 countries.”
sekar nallalu Corporate,Cryptocurrency ITC Chairman Sanjiv Puri Announces Firm’s Rs 20,000 Crore Capex Plan, Big International Goal