ITC has entered into frozen foods market with frozen prawns. And later this year, the company is planing to launch frozen vegetables and fruits. Then it will move on to sauces, dips and condiments.
The expansion is part of ITC’s larger goal to reach Rs1 trillion in revenue from its cigarettes and consumer packaged goods business by 2030. It has already lined up investments of Rs25,000 crore for 65 projects, which includes 25 factories for packaged goods, according to the company’s annual report.
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