ITC Limited

ITC_Limited_Logo

ITC Limited is an Indian multinational conglomerate company headquartered in Kolkata, West Bengal, India. Established in 1910 as the Imperial Tobacco Company of India Limited, ITC has diversified into various sectors, including Fast-Moving Consumer Goods (FMCG), hotels, paperboards and packaging, agribusiness, and information technology. ITC is one of India's largest and most respected companies, with a market capitalization of over $50 billion as of March 2023.

Secretary_Clinton_Visits_ITC_Green_Center_(3736048741)

History

• ITC was founded on August 24, 1910, as the Imperial Tobacco Company of India Limited, primarily focused on the tobacco industry. In 1970, the company changed its name to ITC Limited to reflect its diversification into non-tobacco businesses.
• Over the years, ITC has diversified its operations and expanded into various sectors, including FMCG, hotels, paperboards and packaging, agribusiness, and information technology.

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Business Segments

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ITC's business segments include:

• FMCG: ITC has a strong presence in the FMCG sector, with a diverse portfolio of products, including cigarettes, packaged foods, personal care products, stationery, and lifestyle retailing. Some popular ITC brands include Aashirvaad, Sunfeast, Bingo!, Yippee!, Fiama, Vivel, Engage, and Classmate.
• Hotels: ITC operates a chain of luxury hotels under the ITC Hotels brand, which includes the ITC Grand Bharat, ITC Maurya, and ITC Kohenur, among others.
• Paperboards and Packaging: ITC is a market leader in the paperboards and packaging industry in India, offering a wide range of products, including specialty paper, packaging boards, and cartons.
• Agribusiness: ITC's agribusiness division focuses on the procurement, processing, and export of agricultural commodities, including wheat, rice, soybean, and coffee.
• Information Technology: ITC operates an information technology subsidiary, ITC Infotech, which offers IT services and solutions to clients across various industries, including banking, financial services, insurance, consumer goods, retail, manufacturing, and transportation.

Corporate Social Responsibility

• ITC has been actively involved in various social and environmental initiatives, focusing on areas such as sustainable agriculture, watershed development, education, and healthcare. Some of its major CSR initiatives include:
• e-Choupal: An initiative that empowers farmers through digital services, providing them with access to real-time information on weather, market prices, and agricultural best practices.
• Mission Sunehra Kal: A large-scale watershed development program aimed at water conservation, soil improvement, and increased agricultural productivity.
• ITC Sangeet Research Academy: An institution dedicated to promoting and preserving Indian classical music by providing training to young talents.
• ITC Education and Stationery Products: An initiative that provides affordable and high-quality stationery products to children in rural areas.
• ITC's Social Investments Programme: A program that focuses on improving the quality of life in rural communities through interventions in areas such as education, healthcare, women's empowerment, and skill development.

Recognition and Awards

ITC has received numerous awards and accolades for its business excellence and sustainability initiatives. Some notable awards include:

• 'World's Most Reputable Companies' by Forbes Magazine.
• 'Best Governed Company' by the Asian Centre for Corporate Governance and Sustainability.
• 'Top Indian Companies for Sustainability and CSR' by Futurescape.

See Also

• Fast-Moving Consumer Goods (FMCG)
• Corporate Social Responsibility
• Indian Multinational Companies

References

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