ITC invest Rs 500 crore in food processing industry in Assam.

ITC LtdGuwahati: ITC Ltd will invest Rs 500 crore in the fast moving consumer goods sector, mainly in the food processing industry, in Assam.

ITC Chairman Y C Deveshwar certain this at a meeting with CM Tarun Gogoi lately while he said ITC would also set up industrial units at Chaygaon and Dhubri, a state government release said.

Deveshwar said that the company’s goal is to become the largest consumer goods conglomerate in the country.

He said that “While we have gained considerable market standing in each of our non-cigarette FMCG businesses, we aspire to be market leaders in each segment that we are present in. Foods and personal care will be important drivers.”

Founded in 1910, ITC is one of the major multi-business corporate enterprises in the country with a turnover of about US 6 billion Dollars, the release said.

The company’s non-tobacco businesses, comprising food, personal care, hotels, paper, agriculture, information technology and others presently accounted for about 40% of its revenue.

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