Beyond Tobacco: ITC's ₹20,000 Crore Tech, FMCG, and Hotel Offensive
Who knew the cigarette giant was actually a tech-savvy, biscuit-baking, hotelier in disguise? ITC's colossal ₹20,000 crore capex isn't just a budget; it's a declaration of independence from its traditional image, a full-throttle sprint into the future where 'cigarette' might just be a distant, smokey memory in their sprawling portfolio. It's less a pivot and more a multi-directional lunge, daring competitors to keep up with their rapid-fire expansion in everything from cloud kitchens to luxury suites, proving that even a behemoth can learn new tricks – or, rather, build entire new circuses.
This aggressive strategy, as outlined by Sanjiv Puri, underscores ITC Limited's deliberate shift towards technology-led transformation and creating new business avenues. The significant ₹20,000 crore capital expenditure plan is aimed at fueling substantial growth across its diverse segments, notably FMCG and the recently demerged hotels business. This move follows a period of corporate re-evaluation post-hotels demerger, signaling ITC's commitment to diversifying revenue streams and strengthening its position in high-growth sectors, ensuring its relevance far beyond its legacy operations.
