Indian brands must adorn the global stage say ITC Chairman Sanjiv Puri

Indian brands must adorn the global stage and towards that they must establish an enduring legacy in Bharat first, before making an impact overseas, said ITC Ltd Chairman Sanjiv Puri at the company’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 said.

He said India’s consumer market was at the cusp of a profound transformation with per capita incomes expected 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 said.

“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 also said that the new generation channels were also transforming the market and accentuating these trends. “ITC’s diverse enterprise strengths provide strategic competitive levers to capitalise on these evolving trends and deliver innovative value propositions to consumers,” he said.

Stating that the growing consumer patronage and trust over the years for the company’s products has led to expansion FMCG portfolio to serve domestic and global consumers with world-class home-grown brands he said over 100 new, differentiated and superior products were launched last year across categories.

“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 said.

As consumers increasingly seek healthier, organic and natural food products, ITC is meticulously building its ‘Good-for-You’ portfolio with the mission to ‘Help India Eat Better’. ITC is also sharpening its focus on premiumisation as also value-added adjacencies, in line with evolving trends, he said.