Page 2 - Tobacco Industry

Godfrey Phillips India in focus; shares advance over 14%

For the quarter ended June 2020, Godfrey Phillips India's consolidated net profit dropped 53.56 per cent to Rs 55.10 crore.

Saddled with Rs 1,700 cr stocks, farmers demand restart of tobacco auctions

Urge govt to direct Tobacco Board to coordinate with FCV tobacco manufacturers, exporters and traders to facilitate reasonable prices at pre-covid level at these auctions

Why high cigarette taxes hurt the economy

Loss of jobs due to increase in smuggling and counterfeiting is not on the radar of policy makers

Tax hike on cigarettes has led to other forms of tobacco consumption: ITC

ITC has said tobacco regulation should not be discriminatory to the cigarette industry, while asserting that the FMCG major has no plans to exit the segment despite its ongoing diversification. The Kolkata-based firm said taxes on cigarettes have "increased by more than 200 per cent in last few years" which has resulted in smuggling of cigarettes and other forms of tobacco in India. "If you look at the figures of tobacco consumption in India, over a long period it has not gone down. Tobacco consumption has only increased," ITC CEO & Executive Director Sanjiv Puri said in a media interaction. From cigarettes, it has shifted to illegal cigarettes or to other forms of consumptions, he added. "Legal industry has lost volumes to illicit trade... I think that's the concern we have and we really say that regulation should not be discriminatory to the cigarette industry," Puri said. When asked if ITC, which is on a diversification drive into new areas, could exit

How big tobacco is losing the fight to stop plain packaging of cigarettes

The tobacco industry has faced numerous courtroom defeats of late