ITC to go on an expansion spree
Indian corporate giants ITC Ltd. has announced their plans to invest up to Rs 15,000 crore in the next few years to expand its business.
Most of these investments would go into further boosting their e-choupal (Internet kiosk) network.
ITC Chairman, Y C Deveshwar was speaking at the company’s AGM adding when he revealed that the company plans to invest around Rs 14,000-15,000 crore on enhancing ITC’s economic contribution.
He also added that the company’s value addition had grown at a compound annual rate of more than 12 per cent to over Rs 68,000 crore in the past decade.
The company is planning to invest in e-choupal network to more than 6,000 installations covering one-lakh villages and 3.5 million farmers. Deveshwar said: “The rural retailing initiative will be scaled up by another 40 Choupal-Saagars in 12-18 months.”
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