ITC bets big on agribusiness, wants to create 10 million sustainable livelihoods

FMCG major ITC will continue diversification into new areas with agri business set to play a key role, as part of its 'India First' strategy under which it aims to create 10 million sustainable livelihoods by 2030, according to company CEO and Executive Director Sanjiv Puri.

Very soon, the company will start selling potatoes and onions as it tries to bring “one more commodity to the market every few months”, even as it is in the process of assembling a team for its foray into healthcare sector.

Sanjiv Puri. CEO and Executive Director:
 

“We would like to go forward with growing contribution to the economy on areas of national priorities… One of the objectives was to make growing contribution to the economy, which means getting into newer segments.”

He said ITC’s strategic objective will be to move beyond “shareholder value to societal value building on the foundation of shareholder value”.

Under the company’s India First strategy, ITC is planning to strengthen businesses and value chains to create 10 million sustainable livelihoods by 2030.

At present, ITC and its group firms employ over 32,000 people directly and have supported creation of around 6 million sustainable livelihoods.