The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Subhra Prakash Naskar , MBA 2014-16, Vinod Gupta School of Management, IIT Kharagpur
On March 14th NDTV news published that ITC is going to setup 20 new factories across India to boost its FMCG business. The company’s FMCG business includes cigarettes, foods, lifestyle retailing, personal care, education & stationery, safety matches and agarbattis. This news created a huge positive sentiment among the investors and almost all the market analysts recommended “BUY” call for ITC share. ITC chairman Y C Deveshwar told media that ITC is all set to expand its entire FMCG business as it aims to garner 1 lakh crore from its brands in the FMCG business by 2030.In the last fiscal ITC’s revenue was 23,555 crore from its FMCG vertical including cigarette.
Approximately 12 million people in India comes to job market every year. So, if we are not able to generate jobs that will lead to economic disaster. ITC’s this move will help to create more quality jobs for Indian market.