ITC to invest Rs 500 cr in FMCG sector in Assam
Guwahati: ITC Ltd will invest Rs 500 crore in the fast moving consumer goods sector, especially in the food processing industry, in Assam.
ITC Chairman Y C Deveshwar assured this at a meeting with Chief Minister Tarun Gogoi recently when he said ITC would also set up industrial units at Chaygaon and Dhubri, a state government release said here today.
Deveshwar said the company's goal is to become the largest consumer goods conglomerate in the country.
"While we have gained considerable market standing in each of our non-cigarette FMCG businesses, we aspire to be market leaders in each segment that we are present in. Foods and personal care will be important drivers," he said.
Founded in 1910, ITC is one of the largest multi-business corporate enterprises in the country with a turnover of around US 6 billion Dollars, the release said.
The company's non-tobacco businesses, including food, personal care, hotels, paper, agriculture, information technology and others currently accounted for around 40 per cent of its revenue.