ITC Ltd, the diversified conglomerate, plans to invest ₹20,000 crore over the medium term to expand its manufacturing capabilities across various sectors, Chairman Sanjiv Puri announced on Friday.
Addressing shareholders at the company’s AGM, Puri highlighted that ITC has already established eight new manufacturing units in recent years as part of its ongoing growth strategy.
He emphasized that the company will continue to prioritize its ‘Bharat First’ approach—strengthening its domestic footprint—before pursuing major international expansion.
Puri also pointed out that 65% of ITC’s total revenue now comes from its non-cigarette businesses.
Sanjv Puri underscored the challenges to business in current times and called for efforts to redefine growth. “We are navigating a pivotal inflection point shaped by turbulence and rapid changes that calls for novel strategies to reimagine the future.” Puri added that it is ‘imperative’ to redefine growth and adopt a new paradigm of ‘compassionate capitalism’.
“The year gone by saw challenges from a weak external sector, dumping of imports, and inflationary pressure leading to softening of demand,” Sanjiv Puri said. ITC plans to declare its June quarter results on August 1, 2025.
ITC Ltd’s planned ₹20,000 crore investment underscores its commitment to strengthening domestic manufacturing and accelerating growth beyond its traditional cigarette business. With a clear focus on the ‘Bharat First’ strategy, value-driven brand launches, and expanding its non-cigarette portfolio, the company is positioning itself for long-term, diversified growth within India’s evolving consumer landscape.
