M&As crucial for ITC to reach Rs 1 trn revenue from non-cigarettes FMCG biz

Firm plans to venture into every product category to meet target

ITC is on a war footing. The Kolkata-based diversified conglomerate, which aims to garner revenues of Rs 1 trillion from non-cigarettes fast-moving consumer goods (FMCG) business by 2030, is preparing to venture into at all possible products categories. It is also exploring mergers and acquisitions.

Much like its local peer Patanjali, the firm has begun a blitzkrieg in the food and personal care space this year — with over three dozen product launches during the April-June period alone. Patanjali was rapidly expanding its portfolio in mid-2015, when it was growing at over 100 per cent a year. 

ITC’s growth in