ITC says biggest headroom for growth in FMCG business

Diversified conglomerate ITC Ltd today said its "biggest headroom" for growth is in the fast moving consumer goods business, where it can leverage internal capabilities.

The soap-to-cigarette maker would explore newer areas progressively, similar to what it did with the recent foray in fruits, fruit juices, vegetables and dairy products.

"It is a continuous expansion of our portfolio, which we will strive to do," CEO Sanjiv Puri told reporters on the sidelines of the Horasis Asia meet here.

"We believe the biggest headroom to grow is in the fast moving consumer goods business. That's where opportunities are the biggest and that's where our internal capabilities can be leveraged," he said.

He said ITC had recently announced an investment of Rs 10,000 crore in food processing, and another Rs 25,000 crore was under progress in various areas.

Regarding the impact of GST, Puri said by and large, trade has normalised.

There may, however, be some minor issues in the wholesale channel, he added.