What is the Fullform of ITC?
ITC is an acronym for the Indian Tobacco Company. The company is a multi-industry conglomerate based in Kolkata, West Bengal, India. Its chairman is Sanjiv Puri. In Hindi, ITC means iNddiyn ttobaiko kNpnii. The company is one of India’s leading private sector conglomerates. While ITC has long been known for its tobacco products, it has also expanded into the personal care sector.
The company was founded in 1910 and became known as the Imperial Tobacco Company of India Limited (ITC) in 1974. It celebrated its centennial in 2010 and now employs over 25000 people in over 60 facilities across the country. The company’s businesses span five major areas: manufacturing, distribution, research, and financing. Several employees are involved in more than one business area at any given time. Among these, one can find manufacturing, marketing, sales, distribution, and finance.
In October 2007, the ITC announced that it had entered into three Asset Purchase Agreements with Johnson & Johnson and its Pte. Ltd. subsidiary in Singapore. It also entered into an agreement to acquire the Savlon and Shower to Shower brands, which are both trademarks of Johnson & Johnson. All three companies plan to use the brands in India. For example, ITC recently purchased the Park Hyatt Hotel in Cansaulim, Goa. The purchase includes the hotel’s land, all buildings, and all machinery.
In addition to its core food business, ITC produces stationery and paperboard. Its brands include Agarbattis and Safety Matches. It is a SEI CMM Level 5 organization. Its packaging services reach domestic and international markets. In addition, ITC provides packaging services for many businesses. The company also offers a variety of health and wellness products. If you have a passion for cooking, ITC can help you with your business needs.
ITC’s Agri-Business division is one of India’s largest exporters of agricultural products. It has earned over $3.2 billion in foreign exchange. The e-Choupal initiative empowers Indian farmers through the internet. The initiative has even been the subject of a case study by Harvard Business School. ITC’s e-Choupal project will eventually create a huge rural distribution network for its products. This will provide the company with greater reach for its marketing efforts.
ITC Limited started in 1910. In 1974, the company changed its name to ITC Limited. Today, the company has sixty centers across the country and employs more than 25,000 people. The company operates in five distinct business areas: tobacco, snacks, confectionary, and ready-to-eat food. Listed on the Forbes 2000, the company is a part of a billion-dollar industry. Its headquarters are located in Kolkata.