ITC eyes new consumer class

FMCG major expects north and west India to contribute significantly to the growth of branded food products

- Suneera Tandon

TC Ltd will continue to scale its existing food brands and look for opportunities in the premium segment, as multitudes in India's relatively poorer parts, such as Bihar, Uttar Pradesh, and Rajasthan, are entering the consuming class, potentially boosting demand for branded food products, a senior company official said.

The Kolkata-based fast-moving consumer goods (FMCG) company, which operates across staples, snacks, health foods, dairy and beverages, is also open to acquisitions to bolster its brand portfolio and drive growth, hinting at a couple of deals shortly.

ITC stepped up launches within its foods portfolio in the past few years, entering categories within dairy, spices and adult nutrition as it expands its over ₹17,000-crore foods portfolio. More consumers turning toward branded from unbranded foods will help drive growth for the company, Hemant Malik, executive director, ITC Ltd, and head of the company's food business, said.