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Mar, 16 2015

ITC to set up 20 factories for FMCG business

ITC is also planning to achieve a turnover of over Rs 1 lakh crore from its brands in the FMCG business by 2030.

ITC Ltd, one of the largest FMCG company in India has announced that it is in the process of setting up 20 factories for its FMCG products, reported PTI.

The group is targeting to garner Rs 1 lakh crore revenue from FMCG business alone by 2030.

"We are in the process of building 20 factories. There are some roadblocks, we are stuck on land but let us contribute to this country in a significant way,” said YC Deveshwar, Chairman, ITC.


In the previous fiscal, ITC's revenue from FMCG including cigarettes stood at Rs 23,555 crore.

The company's FMCG business includes cigarettes, foods, lifestyle retailing, personal care, education & stationery, safety matches and agarbattis.

ITC is also planning to achieve a turnover of over Rs 1 lakh crore from its brands in the FMCG business by 2030.

Meanwhile, the company is aiming to create global Indian brands in the years to come.

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