ITC’s CEO Sanjiv Puri said that the company is looking to invest Rs 10,000 crore to set up food processing facilities across the country. Added that they are working on plugging gaps in the food portfolio by making new launches. ITC has a Rs 1 lakh crore revenue target coming in primarily from the food space, fast moving consumer goods (FMCG) space by 2030.

We are proposing to invest around Rs 10,000 crore in opening up food processing facilities, he said.

Going to strengthen a few pieces of food portfolio and get into new spaces. Right now we have a lot of focus on the health biscuits space, need to strengthen it further, he added.

GST is a transformational reform, it is going to strengthen India’s long-term story, it augurs well for the medium and the long-term and a reform of this magnitude is bound to have some transitional change. I believe that the amount of pain that we have faced in GST transition is much lesser than anticipated, said Puri.

 06 Nov 2017, 05:54 AM