Conglomerate ITC is aiming to create "absolutely vital and vibrant" multiple Indian brands in the fast moving consumer goods (FMCG) segment that can compete in the world market.
"Why is that nobody in India has been able to build a consumer brand? Because it is very difficult to build a consumer brand. Because once a brand is built, it is very difficult to dislodge a brand. ITC is making an audacious campaign to build Indian brands,"
ITC Chairman Y.C. Deveshwar said at the annual general meeting of the company in Kolkata.
Deveshwar told shareholders that the company has planned to undertake investments of nearly Rs 25,000 crore spread over 40 projects across the country in the next 5-7 years.
ITC has interest in businesses spanning consumers goods, hotels, agriculture, packaging to IT. It is now planning to enter the nutrition, heath and wellness segment.
The firm reported a
20.21 per cent rise in its net profit at Rs 1,602.14 crore for the first quarter of 2012-13, backed by robust sales across non-cigarette FMCG segment.
Aiming to become the number one FMCG player in the country (barring cigarettes), Deveshwar said the company was eyeing a topline of around Rs 15,000 crore over the next five to seven years from this new line of business.
"ITC is making an audacious campaign to build Indian brands", Deveshwar said.
"Our aspiration is to
create multiplicity of Indian brands. I want to make sure that this company makes absolute vital and vibrant Indian brand, that can compete with the very best in the world."
The company's FMCG business touched a turnover of over Rs 5,500 crore in a relatively short span of time. The top line from this segment is expected to triple over the next five to seven years to a level of Rs 15,000 crore.
The company said its state-of-the-art R&D centre in Bangalore was enabling a synergy of research and development capabilities to deliver future products aimed at nutrition, health and well-being.
Shares of ITC closed 1.98 per cent higher on the Bombay Stock Exchange on Friday.
With inputs from agencies
ITC Chairman Y C Deveshwar 
Special 
