ITC full form

ITC Full Form | What is the Full Form of ITC?

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The ITC full form is referred to as the Imperial Tobacco Company of India. This article includes the full form of ITC and a summary of the company’s mission, vision, and developments.

What is ITC?

ITC Limited or ITC is one of India’s top private sector companies dealing with a diversified portfolio of traditional and Greenfield businesses catering to urban and rural livelihoods. It is one of Asia’s 50 best-performing companies with a market capitalization of the US $ 52 billion employing more than 32,000 people.

ITC

Mission & Vision

ITC aims to enhance the wealth-generating capability of the enterprise in the global; market and envisions to retain its position as one of India’s most valuable;e corporations through world-class performance while creating value for the Indian economy and its stakeholders. Presently the company runs under the chairmanship and directorship of Mr. Sanjiv Puri.

Business Segment

  1. Fast Moving Consumer Goods (FMCG)
  2. Hotels
  3. Packaging and Paperboards
  4. Agri-Business
  5. Information Technology

Evolution and development–

  • ITC was established on August 24, 1910, under the name Imperial Tobacco Company of India Limited.
  • The Company’s name was changed to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974. Presently the company is renowned by the name of ITC Limited, headquartered in Kolkata.
  • The initial years of the business were primarily devoted to the growth of the Cigarettes and Leaf Tobacco businesses.
  • In 1925 ITC’s Packaging & Printing Business was set up.
  • In 1975, the Company introduced its Hotel business by acquiring a hotel in Chennai, now renamed My Fortune, Chennai. Since then, the company has bought and managed over 100 properties spread across India and outside India under four brands: ITC Hotels – Luxury Collection, WelcomHotels, Fortune Hotels, and WelcomHeritage.
  • In 1979, ITC entered the Paperboards business by promoting, acquiring, and merging with several other companies.
  • In 1990, it set up the Agri-Business Division to export agricultural commodities, which is considered one of India’s largest exporters. With Initiatives like e-Choupal and Choupal Pradarshan Khet’, the company has been focusing on improving the productivity of crops and deepening the relationship with the farming community.
  • In 2000, ITC spun off its information technology business into a wholly-owned subsidiary as ITC Infotech India Limited, providing outsourced IT solutions and services to leading global customers, such as Banking Financial Services & Insurance (BFSI), Retail, Manufacturing, Engineering Services, etc.
  • ITC also entered the Lifestyle Retailing business in 2000 with brands like Wills Lifestyle, John Payers brands, etc
  • In August 2001, the ‘Kitchens of India’ ready-to-eat Indian gourmet dishes segment was introduced. Gradually brands like mint-o and Candyman confectionery Aashirvaad Atta, Sunfeast Yippee!, B Natural Fruit beverages, Aashirvaad Svasti Ghee, Fabelle chocolate, Sunbean Gourmet Coffee, Farmland Potatoes, ITC MasterChef super safe spices were launched.
  • The company entered into the marketing of Safety Matches and Agarbattis (incense sticks) in the year 2O02 and 2003, respectively.
  • Between the years 2002-2007, ITC launched the brand’s Papercraft and classmate and increased its product segment to cater office segment and student population.
  • Personal care products like ‘Essenza Di Wills’, ‘Fiama’, ‘Vivel’ ‘Superia, and Engage deodorants were launched from 2005 onwards.
  • ITC acquired the brand Charmis in 2017.
  • ITC launched its hand-rolled cigar, Armenteros, in the Indian market in 2010.
  • The company’s growth strategy encompasses positive environmental friendly activities such as enhanced use of renewable energy sources, low-carbon emission, reduced water consumption and augment rainwater harvesting activities, and waste management initiatives WoW (Well-being Out of Waste) program.
  • It has won numerous national and international awards for productivity, quality, safety, and environment management systems.

Conclusion

The ITC full form is referred to as the Imperial Tobacco Company of India. is one of India’s top private sector companies dealing with a diversified portfolio of traditional and Greenfield businesses catering to urban and rural livelihoods.

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