ITC Ltd has now aimed to focus its business to other areas to make the company a diversified corporate conglomerate. For this, the company has planned to invest Rs 15,000 crore in coming 5-7 years in sectors such as hotels, agri-business and FMCG.
According to the report, ITC wants to expand its business in FMCG, agro business, paper and packaging, hotels and the infotech business and it has planned to invest Rs 15,000 crore in various projects in next seven years.
The company, famous for its tobacco business, is now taking initiative in non-tobacco divisions. In the series of planning, ITC has decided to its social farm forestry projects in Andhra Pradesh and Karnataka.
Currently, three lakh farmers are involved in such kind of projects but the company has planned to involve 12 lakh farmers by 2012-14 in farm and forestry projects.
ITC has already gone aboard for capacity enhancement program for paper production as the company gets 60-70% of its raw materials from the social forestry projects.
ITC is on the project to take the idea of modern retail to rural parts of country. It has also planned to expand its reach in the rural part through e-choupals that works as direct marketing channel for farmers and Choupal Sagars that may be called as rural retail stores. Currently, ITC has more than 6,500 e-choupals that cover as many as 40,000 villages and 40 Choupal Sagars.