ITC to foray into fruits, vegetables and perishables items
New Delhi: Diversified conglomerate ITC is entering into the fruits, vegetables and other perishables segment as part of its drive to build an agri-based industry for the future, its chairman Y.C. Deveshwar said on Friday.
The Kolkata-headquartered firm is also looking to invest in farming of aromatic and medicinal plants. ITC has started working on creating the infrastructure for it and is investing in supply chain.
“ITC has decided to foray into the fruits, vegetables and other perishables segment. This would help address India’s massive agri-wastages that deprive farmers of a potentially large income source,” Deveshwar said in his AGM speech.
The move is aimed at providing options to consumers and consumers alike. “Such fresh, frozen and dehydrated agri-products will provide high quality options to consumers, creating an agri- value chain that will help farmers diversify crop production as well as manage wastage,” he added.
Addressing shareholders, Deveshwar said investments are underway to create climate-controlled infrastructure for an efficient supply chain to unlock the potential latent in this area.
The company, which has recently launched Frozen Prawns under its ITC Master Chef brand, will soon extend it to pan India. “These high quality ‘Super Safe’ prawns leverage ITC’s 45-year legacy in exporting to the most exacting markets of the world,” Deveshwar said.
The company is working in the rural areas with the farmers from the year 2000 through its network of e-Choupal and over 4 million farmers have benefited from this initiative so far.