Indian brands must adorn the global stage and in direction of that they must set up an everlasting legacy in Bharat first, earlier than making an influence abroad, mentioned ITC Ltd Chairman Sanjiv Puri at the firm’s 114th Annual General Meeting held in Kolkata.
“ITC’s FMCG portfolio today accounts for an annual consumer spend of over Rs 34,000 crore, reaching over 260 million households in India and gaining encouraging consumer franchise in over 70 international markets,” he mentioned.
He mentioned India’s client market was at the cusp of a profound transformation with per capita incomes anticipated to exceed $4,000 by 2030.
“Gen Z, poised to become a predominant part of the workforce, is expected to account for every 2nd rupee spent by 2035. The preferences of Gen Alpha, who are growing up in a hyper-digital, socially conscious and AI-integrated world, are also vying for attention as a distinctive cohort,” he mentioned.
“Tomorrow’s consumers will increasingly seek premium products, varied experiences, brands with purpose, greater personalisation and seamless omni-channel engagements. Segments like health & wellness, nutrition, functional foods, organic and naturals are poised to become megatrends of the future,” he added.
Mr. Puri additionally mentioned that the new era channels had been additionally reworking the market and accentuating these tendencies. “ITC’s diverse enterprise strengths provide strategic competitive levers to capitalise on these evolving trends and deliver innovative value propositions to consumers,” he mentioned.
Stating that the rising client patronage and belief over the years for the firm’s merchandise has led to enlargement FMCG portfolio to serve home and global shoppers with world-class home-grown brands he mentioned over 100 new, differentiated and superior merchandise had been launched final 12 months throughout classes.
“Even as we strengthen our mega brands, we are also introducing new brands and pursuing value-accretive acquisitions to address emerging opportunities and whitespaces,” he mentioned.
As shoppers more and more search more healthy, natural and pure meals merchandise, ITC is meticulously constructing its ‘Good-for-You’ portfolio with the mission to ‘Help India Eat Better’. ITC can also be sharpening its give attention to premiumisation as additionally value-added adjacencies, consistent with evolving tendencies, he mentioned.
