High-end nicotine is seeing growing demand due to the rise of vapes and pouches globally. Indian tobacco is well placed since it has a high nicotine content.
A look at ITC’s top line shows the revenue share of its tobacco business has nearly halved—from 62% in FY14 to 37% in FY23. This change can’t come about unless you understand the Indian consumer. Sanjiv Puri, chairman and managing director of ITC, is among the few executives who has a finger on their pulse. In an exclusive interaction with ET, Puri talks about how the FMCG behemoth came to be.
A look at ITCs top line shows the revenue share of its tobacco business has nearly halved—from 62% in FY14 to 37% in FY23. This change cant come about unless you understand the Indian consumer. Sanjiv Puri, chairman and managing director of ITC, is among the few executives who has a finger on their pulse. In an exclusive interaction with ET, Puri talks about how the FMCG behemoth came to be.