MBA SEM-1 (2021-23)

SUBJECT- BUSSINESS GOVERNMENT AND SOCIETY

CCA-1 REPORT
ITC ; Bridging Bussiness across rural and urban India
SUBMITTED BY :-
DIVISION D
GROUP NO D2.2
KASHISH BHUTWANI : 17
MANDAR THIKARE : 25
PRATHAMESH DHAMDHERE : 30
URVI MUNOT : 56
VISHAL ZANJE : 63
Contents
INTRODUCTION .................................................................................. 2
MISSION, VISION AND VALUES .......................................................... 4
SOCIO – ECONOMIC DEVELOPMENT .................................................. 5
ITC`S LEGAL ISSUES ........................................................................... 10
ITC`S COLLABORATION WITH GOVERNMENT .................................. 12
ROLE OF PUBLIC PRIVATE PARTNERSHIP ......................................... 14
ITC`S STRATEGIES FOR INVESTMENT ............................................... 17
FINDINGS/SUGGESTIONS ................................................................. 19
REFERENCES ..................................................................................... 21

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INTRODUCTION

ITC Ltd (ITC) was incorporated on August 24, 1910, under the name Imperial Tobacco
Company of India Ltd. to make cigarettes and tobacco. It later changed its name to India
Tobacco Company in 1970 and then changed to I.T.C. Limited in 1974. In 1975, the company
entered the hospitality business with the acquisition of ITC–Welcomegroup Hotel Chola. The
Company has a wide range of businesses- Cigarettes & Tobacco, Hotels, Information
Technology, Packaging, Paperboards & Specialty Papers, Agri–Exports, Foods, Lifestyle
Retailing and Greeting Gifting & Stationery – the full stops in the Company's name were
removed effective September 18, 2001, and now stands as 'ITC Limited'.
ITC is one of India's foremost private sector companies with a market capitalization of nearly
US $ 14 billion and a turnover of over $ 5 billion. ITC is rated among the World's Best Big
Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine,
among India's Most Respected Companies by Business World and among India's Most
Valuable Companies by Business Today. ITC ranks among India's `10 Most Valuable
(Company) Brands', in a study conducted by Brand Finance and published by the Economic
Times. ITC also ranks among Asia's 50 best performing companies compiled by Business
Week.
ITC's Agri–Business is one of India's largest exporters of agricultural products. ITC is one of
the country's biggest foreign exchange earners ( $ 3.2 billion in the last decade). The
Company's 'e–Choupal' initiative is enabling Indian agriculture significantly to enhance its
competitiveness by empowering Indian farmers through the power of the Internet. This
transformational strategy, which has already become the subject matter of a case study at
Harvard Business School, is expected to progressively create for ITC a huge rural distribution
infrastructure, significantly enhancing the Company's marketing reach.
ITC's wholly owned Information Technology subsidiary, ITC Infotech India Ltd, provides IT
services and solutions to leading global customers. ITC Infotech has carved a niche for itself
by addressing customer challenges through innovative IT solutions.
The earlier decades of the Company’s existence were mainly depending on growth and
consolidation of the Cigarettes and Leaf Tobacco business, in 1970s it stated to transform into
a corporate. In 1975 the Company launched its hotels with the acquisition of a hot in Chennai
which was named s ‘ITC-WelcomeGroup Hotel Chola’. The objective of ITC’s entry into the
hotels business was rooted in the concept of creatin value for the nation. In 1979, ITC entered
the Paperboard business by promoting ITC Bhadrachalam Paperboards Limited, which today
has become the market leader in India.
I1985, ITC setup Surya Tobacco Co. in Nepal as an Indo-Nepal and British joint venture. Since
inception, its shares have been held by ITC, British American Tobacco and various
independent shareholders in Nepal. In August 2002, Surya Tobacco became a subsidiary of
ITC Limited and its name was changed to Surya Nepal Private Limited (Surya Nepal). Also in
1990, leveraging its agri-sourcing competency, ITC set up the Agri Business Division for export
of agri-commodities. The Division is today one of India’s largest exporters. ITC’s unique and
now widely acknowledged e-choupal initiative began in 2000 with soya farmers in Madhya
Pradesh. Now it extends to 10 states covering 4 million farmers. ITC’s first rural mall,
christened ‘Choupal Saagar’ was inaugurated in August 2004 at Sehore. On the rural retail
front, 24 ‘Choupal Saagars’ are now operational in the 3 states of Madhya Pradesh,
Maharashtra, and Uttar Pradesh.

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In 2000, ITC forayed into the Greeting, Gifting and Stationery products business with the
launch of Expressions range of greeting cards. A line of premium range of notebooks under
brand “Paperkraft” was launched in 2002. To augment its offering and to reach a wider student
population, the popular range of notebooks was launched under brand “Classmate” in 2003.
“Classmate” over the years has become India’s largest notebook brand and increased its
portfolio to occupy a greater share of the school bag. Year 2007-09 saw the launch of Children
Books, Slam Books, Geometry Boxes, Pens and Pencils under the “Classmate” brand. In
2008, ITC repositioned the business as the Educational and Stationery Products Business
and launched India’s first environment friendly premium business paper under the “Paperkraft”
Brand. “Paperkraft” offers a diverse portfolio in the premium executive stationery and office
consumables segment. Paperkraft entered new categories in the office consumable segment
with the launch of Textliners, Permanent Ink Markers and White Board Makers in 2009.
ITC also entered the Lifestyle Retailing Business with the Wills Sport range of international
quality relaxed wear for men and women in 2000. The Wills Lifestyle chain of exclusive stores
later expanded its range to include Wills Classic formal wear (2000) and Wills Clublife evening
wear (2003). ITC also initiated a foray into the popular segment with its men's wear brand,
John Players, in 2002. In 2006, Wills Lifestyle became title partner of the country's most
premier fashion event – Wills Lifestyle India Fashion Week – that has gained recognition from
buyers and retailers as the single largest B–2–B platform for the Fashion Design industry. To
mark the occasion, ITC launched a special 'Celebration Series', taking the event forward to
consumers. In 2007, the Company introduced 'Miss Players'– a fashion brand in the popular
segment for the young woman.
In 2000, ITC spun off its information technology business into a wholly owned subsidiary, ITC
Infotech India Limited, to more aggressively pursue emerging opportunities in this area. Today
ITC Infotech in one of India’s fastest growing global IT and IT enabled services companies
and has established itself as a key player in offshore outsourcing, providing outsourced IT
solutions and services to leading global customers across key focus verticals- Manufacturing,
BFSI (Banking, Financial Services and Insurance), CPG&R (Consumer Packaged Goods and
Retail), THT (Travel, Hospitality and Transportation) and Media & Entertainment.
ITC’s foray into the Foods business is an outstanding example of successfully blending
multiple internal competencies to create a new driver of business growth. It began in August
2001 with the introduction of ‘Kitchens Of India’ ready to eat Indian gourmet dishes. In 2002,
ITC entered the confectionery and staples segments with the launch of brands mint-o and
Candyman confectionery and Aashirvaad atta (wheat flour). 2003 witnessed the introduction
of Sunfeast as the Company entered the biscuits segment. ITC’s entered the fast growing
branded snacks category with Bingo! In 2007, in just over a decade, the Foods business has
grown to a significant size with over 200 differentiated products under six distinctive brands,
with an enviable distribution reach, a rapidly growing market share and a solid market
standing.
In 2002, ITC’s philosophy of contributing to enhance the competitiveness of the entire value
chain found yet another expression in the Safety Matches initiative. ITC now markets popular
safety matches brand like iKno, Mangaldeep, Aim, Aim Mega, and Aim Metro. ITC’s foray into
the marketing of Agarbattis (incense sticks) in 2003 marked the manifestation of its partnership
with the cottage sector. ITC’s popular agarbattis brands include Spriha and Mangaldeep
across a range of fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur, Sambrani
and Nagchampa. ITC introduced Essenza Di Wills, an exclusive range of fine fragrances and
bath & body care for men and women in July 2005. Continuing with its tradition of bringing
world class products to Indian consumers the Company launched ‘Fiama Di Wills’, a premium

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range of Shampoo, Shower Gels and Soups in September, October and December 2007
respectively. The Company also launched the ‘Superia’ range of Soaps and Shampoos in the
mass-market segment at select markets in October 2007 and Vivel De Wills & Vivel range of
soaps in February and Vivel range of shampoos in June 2008.

MISSION, VISION AND VALUES

THE ITC VISION

Sustain ITC's position as one of India's most valuable corporations through world class
performance, creating growing value for the Indian economy and the Company's stakeholders.
THE ITC MISSION
To enhance the wealth generating capability of the enterprise in a globalizing environment,
delivering superior and sustainable stakeholder value.
CORE VALUES
ITC's Core Values are aimed at developing a customer-focused, high-performance
organisation which creates value for all its stakeholders:
TRUSTEESHIP
As professional managers, we are conscious that ITC has been given to us in "trust" by all our
stakeholders. We will actualise stakeholder value and interest on a long term sustainable
basis.
CUSTOMER FOCUS
We are always customer focused and will deliver what the customer needs in terms of value,
quality and satisfaction.
RESPECT FOR PEOPLE
We are result oriented, setting high performance standards for ourselves as individuals and
teams.
We will simultaneously respect and value people and uphold humanness and human dignity.
We acknowledge that every individual brings different perspectives and capabilities to the
team and that a strong team is founded on a variety of perspectives.
We want individuals to dream, value differences, create and experiment in pursuit of
opportunities and achieve leadership through teamwork.

EXCELLENCE
We do what is right, do it well and win. We will strive for excellence in whatever we do.
INNOVATION

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We will constantly pursue newer and better processes, products, services and management
practices.
NATION ORIENTATION
We are aware of our responsibility to generate economic value for the Nation. In pursuit of our
goals, we will make no compromise in complying with applicable laws and regulations at all
levels.

LIST OF PRODUCTS AND BRANDS

In FMCG, ITC has a strong presence in:
1) Cigarettes
• Gold Flake Kings
• Gold Flake Premium
• W. D. & H. O. Wills
2) Foods
• Kitchens of India
• Aahirwad
• Minto
• Sunfeast

SOCIO – ECONOMIC DEVELOPMENT:-

CSR ACTIVITIES
THE E-COUPAL INICIATIVE :-
The Indian Context
Indian farmers, especially small and marginal ones, must fight challenges on multiple fronts.
When growing crops, poor soil, lack of irrigation and volatile weather are constant hurdles,
made worse by climate change. Modern agricultural practices and techniques are difficult to
access as are credit, high quality agri-inputs, etc.
Once crops are ready, inefficient price and weather discovery mechanisms mean that farmers
cannot time harvests to get best prices. Marketing, storage, logistic infrastructure are
exceedingly inadequate. The deep disconnect from the market prevents them from being able
to align their crops to rapidly evolving consumer preferences.

ITC's Contribution
In a pioneering move, ITC set up village internet kiosks - e-Choupals - which made real-time,
up-to-date, relevant information on weather, price discovery, agri knowhow and best practices,
etc readily available. The kiosks are managed by trained local farmers who help the local
agricultural community to access the information in their local language.

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With appropriate knowledge and services available virtually at the farm gate, farmers have
been able to raise productivity, improve quality, manage risk and earn better prices. By
creating a more efficient marketing channel, e-Choupal reduces transaction costs and helps
farmers to adjust/fine-tune crops types and qualities to changing trends.
The largest internet-based intervention in rural India, e-Choupal has grown into an ecosystem
of services that addresses diverse rural needs, from agri-extension and other farm-related
offerings to retail avenues to insurance and healthcare.

ITC'S Solid Waste Management Initiatives- Serving over 1,458,800 households across
9 states

ITC's Contribution
ITC's Well-being Out of Waste (WOW) initiative promotes awareness about the importance of
source segregation and recycling, and establishes systems to ensure effective practice. It
collaborates with local municipalities to train waste workers and rag-pickers in these concepts
and to provide an efficient collection system that covers virtually all segments: households,
offices, schools, hospitals, commercial establishments, etc.
Proper segregation reduces the amount of waste going to landfills while the dry waste
collected provides competitive raw material to several industries, e.g. glass, paper and plastic.
Rag-pickers and waste workers also earn higher and more regular incomes.
Along with WOW, ITC is also implementing several other waste management projects along
the same lines but tailored to local situations, e.g. promoting home composting or involving
women's self-help groups.

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ECONOMIC DEVELOPMENT :-
If rapid economic growth is to be sustained in a country as large and diverse as India, it is
imperative to include those living at the margin as meaningful participants in the economic
process. The slow pace of progress so far towards achievement of the Millennium
Development Goals highlights the seriousness of the issues relating to human development.
ITC's aspiration to create enduring value for the nation provides it the inspirational motive force
to sustain growing shareholder value. ITC practices this philosophy of a 'commitment beyond
the market' by not only driving each of its businesses towards international competitiveness,
but by also consciously contributing to enhancing the competitiveness of the larger value chain
of which it is a part.
Over the past decade, value addition by ITC has grown at a compound annual rate of more
than 12% to over Rs. 68,000 crores, representing nearly 1.1% of the value-added by the
Industry sector of the economy. Nearly 77% of such value-added accrued to the Exchequer,
providing the much-needed resources for deployment in developmental priorities. Foreign
exchange earnings of the ITC Group during this period amounted to nearly US $ 2.5 billion, of
which earnings from agri exports constituted nearly 65%. These earnings from linking the
Indian farmer with world markets represent well over 2% of the country's agri exports.
ITC's investments of over Rs. 6,000 crores in the last decade towards enhancing the
competitiveness of its businesses support direct employment to the tune of 20,000 and indirect
employment across the value chains of nearly 5 million people, whose livelihoods are
substantially linked to their association with ITC. The investment plans envisaging Rs.14,000-
15,000 crores over the next few years would further enlarge ITC's economic contribution.
ITC's engagement across diverse value chains spans the farming community, small
enterprises and shopowners in the small, medium and cottage sectors. The Company's new
FMCG businesses alone support the competitiveness of over 120 vendors in the SME sector
thereby enabling them to adopt best practices, induct superior capabilities, and eliminate
reprehensible practices like child labour. To illustrate, the Incense sticks business sources
products from 8 vendors in the cottage sector, who predominantly employ women. Four of
these vendors have earned the ISO 9001 certification - a first for this industry. Thus the
symbiotic partnership between the Company and such cottage industry vendors leverages

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complementary strengths for mutual benefit, thereby enabling these enterprises to flourish
without the need for public largesse.
ITC's mission of fulfilling a larger social purpose is based on the bedrock of sound financial
performance. It is ITC's belief that creation of shareholder value provides the only basis for
sustainable contribution to the superordinate goal of creating national value.
ITC aims to sustain its market standing as one of India's most valuable corporations, achieve
leadership position in each of the business segments within a reasonable time frame and
achieve a Return on Capital Employed (ROCE) in excess of the Company's cost of capital, at
all times.
Over the last decade Total Shareholder Returns, measured in terms of increase in market
capitalisation and dividends, grew at a compound rate of over 30% per annum, placing ITC
among the foremost in the country in terms of efficiency of servicing financial capital. Amongst
listed companies in the private sector, ITC ranked 4th in terms of Gross Turnover and 3rd in
terms of pre-tax profits for the financial year ended 31st March 2006. The
Company ranked 6th by market capitalisation amongst listed private sector companies in the
country, as at 31st March 2006. The Company has consistently achieved a ROCE well in
excess of its cost of capital. It is a measure of the continued trust reposed in the Company by
consumers that ITC's brands today account for three of the top five FMCG brands in the
country.

Just as the Company's businesses have contributed to strengthening its economic value
creating ability, their impact on enhancing social and ecological capital is also growing in
magnitude and significance.

ITC jumps 11% in four days amid buzz of likely tieup

with Amazon
ITC rose 2.75% to Rs 256.20, extending recent gains on reports that e-commerce giant
Amazon is planning to invest in ITC e-Choupal.Shares of ITC have risen 10.60% in four
sessions from its recent closing low of Rs 231.65 on 8 October 2021.The stock hit a 52-week
high of Rs 261.80 today. It has surged 56.79% from its 52-week low of Rs 163.40 hit on 29
October 2020. In the past one month, the stock has risen 18.65 % as against 5.30% rise in
the Sensex.e-Choupal is an initiative of ITC to link directly with rural farmers via the Internet
for procurement of agricultural and aquaculture products like soybeans, wheat, coffee, and
prawns.e-Choupal tackles the challenges posed by Indian agriculture, characterized by
fragmented farms, weak infrastructure and the involvement of intermediaries. The programme
installs computers with Internet access in rural areas of India to offer farmers up-to-date
marketing and agricultural information. The system saves procurement costs for ITC.
While the farmers benefit through enhanced farm productivity and higher farm gate prices, ITC
benefits from the lower net cost of procurement (despite offering better prices to the farmer)
having eliminated costs in the supply chain that do not add value.
ITC is engaged in the marketing of fast-moving consumer goods (FMGC). The firm operates
through four segments: FMCG; hotels; paperboards, paper and packaging, and agri business.
ITC is the market leader in cigarettes in India. The conglomerate reported 28.6% rise in

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standalone net profit to Rs 3,013.49 crore on 37.3% rise in net sales to Rs 12,142.43 crore in
Q1 FY22 over Q1 FY21.
Environmental Impact
ITC's impact on the environment as a result of its operations mainly concerns three areas: (a)
release of greenhouse gases contributing to global warming; (b) consumption of water, both
from surface and sub-surface sources, adding to the depletion of freshwater availability; and
(c) generation of solid wastes, adding to the non-degradable waste being generated by
industry.
ITC has been at the vanguard of Indian industry's attempts to minimise its environmental
footprints through strategic initiatives in each of these areas of global concern.
Global Warming: In order to mitigate the effects of global warming, the Company is following
a two-fold strategy: (a) reduce specific energy consumption in its operations through improved
technology and processes; and (b) sequester greenhouse gases, especially carbon dioxide,
through a large-scale forestry programme. These efforts have resulted in greening 41,000
hectares of land, helping ITC sequester more carbon dioxide than its operations emit. The
total CO2 released by ITC's operations in 2005-06 was 1,202 kilo tonnes while CO2
sequestered was 1,244 kilo tonnes, or 104% of emissions. This positions ITC uniquely as a
'carbon positive' corporation. By 2010, the Company plans to green 100,000 hectares,
significantly more than it would require for its expanding paperboards operations.
Water Conservation: ITC is mindful of the fact that freshwater in the country is increasingly
becoming a valuable resource given that India accounts for 18% of the world's population but
has only 4% of global freshwater resources. In order to mitigate the negative impact on
freshwater depletion due to its operations, ITC has adopted a three-fold strategy: (a) minimise
the consumption of fresh water per unit of output in all its businesses; (b) minimise/eliminate
discharge of treated effluents to prevent damage to the environment in any way; and (c) create
rainwater harvesting potential within the Company's units. Rainwater harvesting within the
units has seen a significant increase between 2002-03 and 2005-06 - from 0.24 MKL to 0.61
MKL.

ITC's endeavours towards sustainability go beyond the corporate boundary. The Company
has been systematically and strategically investing in creating additional rainwater harvesting
capacity through external watershed development projects in water stressed areas. This was
prompted by the fact that even though 70% of India's population lives in the countryside and
agriculture accounts for 19% of the country's GDP, nearly 67% of the cultivated area faces
severe moisture stress for 5 to 10 months a year. From 3 projects covering 60 villages during
2001-02, ITC's watershed development projects now cover 325 villages in 16 districts,
benefiting 15,506 farmers. A total of 1,011 water harvesting structures have been created.
These structures provide critical irrigation to 10,277 hectares of farmland and have led to an
additional storage potential of 18.99 MKL.
As a result of these measures, ITC has been a 'water positive' Company for the past four
consecutive years. Compared to the net freshwater consumption of 4.62 MKL in 2005-06, the
Company has created potential storage of 19.60 MKL through its water harvesting efforts both
within its units and in moisture-stressed districts of the country.
The Company is keen not only to maintain its status as a 'water positive' corporation but to
continue to address one of India's foremost problems - the threat of more and more areas in

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the country becoming moisture deficit. In the next five years therefore, the Company has
planned to bring a total of 50,000 hectares under soil and moisture conservation through the
creation of 1,500 additional water-harvesting structures leading to an additional potential
storage of about 28 MKL.

ITC`S LEGAL ISSUES :-

ITC Ltd. v. Nestle India Ltd. : the end of a long drawn trade war :-

Introduction
A seven-year-old legal battle, proceedings initiated by ITC against Nestle India, was finally
disposed of by the Madras High Court on June 10, 2020. The suit had been filed by ITC to
claim that Nestle’s Maggi Noodles has been passing off their product as those of ITC’s using
the Plaintiff’s mark, “Magic Masala” which is similar to that of their product. A single-judge
bench of Justice C. Saravanan, after an exhaustive analysis of facts, precedents and
evidence, held that there was no passing off of the product.
A brief background
‘Trademark’ is arguably an immensely important form of IP in the present world. Trademarks
are used for distinguishing one’s goods from another. If the 2 goods are found to be similar
enough to create confusion in the minds of the people, it would constitute trademark
infringement. If the former goods have been registered, a straight-up suit could be filed. In
case the goods have not been registered, the only available remedy is an action for passing
off. There are several perks of trademark registration.
For instance, when one’s trademark is registered, merely proving deceptive similarity would
suffice. However, in an action of passing off with regards to an unregistered trademark, the
plaintiff would not only have to prove deceptive similarity but also that his mark has acquired
sufficient goodwill, i.e., people must associate the mark with the plaintiff’s goods. The Delhi
High Court in the case of Micolube India Ltd. v. Maggon Auto Centre held that in a passing off
proceeding, it is essential to prove that the consumer was misled into believing that the
impugned goods are the goods of or are connected with the goods of a prior user of the
trademark.
ITC had contended that the words ‘Magical Masala’, which Nestle was using on its products
were deceptively similar to the words ‘Magic Masala’, which ITC had been using on its product
‘Sunfeast Yippee! Noodles’ since 2010. It must be noted that initially in 2010, the product
‘Sunfeast Yippee!’ was launched in two variants namely, ‘Classic Masala’ and ‘Magic Masala’.
Later on, another one was introduced, namely ‘Chinese masala’.
Conclusion
A reader going through a brief summary of the dispute is likely to incline himself/herself
towards ITC’s contention. However, an in-depth analysis would lay down a separate story.
The case showed that a mark which is laudatory or has become common to the trade could
not be registered as a trademark under usual circumstances. However, as mentioned in
section 9(2)(c), if the mark has acquired distinctiveness, i.e., a secondary meaning with
regards to the manufacturer’s goods, it could be identified as a valid trademark.

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In ITC Limited vs Nestle India Limited, there was a need to establish a ‘long and arduous
uninterrupted use’ over the expression ‘Magic Masala’. Moreover, it also had to prove that the
expression had acquired a secondary meaning. Having failed to have proven these
observations, the court competently settled the matter in favour of Nestle India Ltd.

Tea Board, India v. ITC Limited

PARTIES
The Plaintiff is Tea Board of India which is a state agency of the Government of India
established to promote the cultivation, processing, and domestic trade as well as export of tea
from India. The Defendant is ITC Ltd. a multinational conglomerate company headquartered
at Kolkata, West Bengal.
BRIEF FACTS : - The Tea Board of India filed a suit for trademark infringement against ITC
Ltd. for using the name “Darjeeling” at one of its refreshment lounges, namely, “Darjeeling
Lounge” at its Hotel in Kolkata.The Plaintiff filed a suit in the Calcutta High Court which was
rejected by the Single Judge. The Division Bench of the Court also upheld the decision. On
appeal to the Supreme Court, the Court directed the suit to return to the Calcutta High Court
with an instruction for expeditious decision on pleadings and admitted material only. Hence,
the present appeal lies before the Calcutta High Court.
ISSUES : - Has the plaintiff in lieu of its trademark registration acquired any right other than
the authority to certify tea that originates from registered tea gardens in Darjeeling to use the
name or logo “Darjeeling”?
By using the name “Darjeeling” does the defendant falsely suggest that goods/services sold
and catered to, owe their origin to Darjeeling or creates an impression that it operates under
a license from the plaintiff?
Is the “Darjeeling” logo protectable under Copyright Act as claimed by the plaintiff?
ANALYSIS
The Court pointed out the fact that the plaintiff has not obtained a registration under Sections
18 and 23 of the Trademark Act, 1999. The registration was done under Chapter VIII of the
Trade and Merchandise Marks Act, 1958.
It looked into the definition of “certification trademark” under the 1999 Act and the 1958 Act
and held that in lieu of Section 159(2) of the 1999 Act, the protection granted to the certification
mark in question will only extend to goods and not services. Although the 1999 Act extends
protection of certification mark to services as well, the Court was of the opinion that 159(c)
only provides a continuing effect and not an extension of the protection already granted under
the old Act.
The Court also looked into the plaintiff’s own showing of the copy of the entry in the register
of trademarks and held that it was apparent from the registry that the certification trademark
of the plaintiff was only applicable in respect of goods and not services.
The court pointed out that the right acquired by certification trademarks are limited as
compared to regular trademarks and infringement of certification marks are covered under
Section 75 unlike Section 29 which covers regular trademarks. In light of these observations
the Court stated that the only right that has been granted to the plaintiff through the registration
of trademark is to certify tea as “Darjeeling Tea”. No right with respect to any service or in
respect of the word “Darjeeling” has been granted to the plaintiff.

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The Court agreed with the contention of the defendant and held that the action of the plaintiff
with respect to violations of the Geographical Indications Act is barred under Section 26(4) of
the GI Act. The Court stated that it was apparent on the face of the records that the
presentation of the plaint was made beyond the expiry of the 5 years period mandated by
Section 26(4) of the Act.
According to the Court, there was no substance in the allegations of passing off. The Court
said that the plaintiff was not able to substantiate its allegations by way of leading cogent
evidences either documentary or oral.
Similarly, the Court stated that the plaintiff failed to substantiate its argument and prove that
there was a dilution of either the registered Trademark or the Geographical Indication. Also,
the Court could not find any substance in the argument of the plaintiff that the adoption, use
and attempted registration of the trademark “Darjeeling Lounge” by the defendant was done
in bad faith.
The Court also pointed out to the fact that the parties were engaged in different industries and
there was no competition between the two. Hence, the court ruled out the possibility of any
unfair competition on the part of the defendant. It also reiterated the defendant’s case that only
high-end guests accessed the lounge. These guests were generally educated and
knowledgeable and thus, they were not likely to be confused or mislead by the use of it.
Therefore, it was adjudged by the Court that there was no dishonesty or any fraudulent act
committed on the part of the defendant.
With respect to the issue of copyright infringement as claimed by the plaintiff, the Court pointed
out that there is no similarity between the certification trademark logo and the logo of the
defendant. Thus the court held this issue to be irrelevant and redundant.
The court concluded by saying that the suit was frivolous and dismissed it with a cost of Rs.
One Lakh.

ITC`S COLLABORATION WITH GOVERNMENT :-

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Agriculture Ministry ties up with Jio, ITC, NCDEX to
develop agritech
The Agriculture Ministry signed agreements on Tuesday with Reliance’s Jio Platforms, ITC,
Cisco, NCDEX e-Markets and Ninjacart to develop agritech solutions using its National
Farmers Database which includes information of 5.5 crore farmers. Microsoft, Amazon and
Patanjali are among the companies that signed agreements for similar pilot projects earlier
this year.
This is part of an effort to modernise the agriculture sector by infusing new technologies so
that farmers can increase their income, Agriculture Minister Narendra Singh Tomar said while
signing the Memoranda of Understanding with the companies’ representatives, according to
an official statement. Pilots could be scaled up to a national level if successful, the Ministry
had said earlier.
Reliance’s JioKrishi platform provides services to create a data-driven farmer ecosystem,
enabling analysis of farmers’ specific soil conditions and irrigation needs and connect them to
experts as well as educational videos. Under its agreement with the Agriculture Ministry, it will
roll out a primary intervention module in the Jalna and Nashik districts of Maharashtra as a
pilot project.
ITC has proposed to build a customised ‘Site Specific Crop Advisory’ service using digital crop
monitoring hosted on its existing e-Choupal platform, supported by an on-ground handholding
ecosystem. Its pilot will be implemented in identified villages of the Sehore and Vidisha districts
of Madhya Pradesh and support wheat crop operations, according to the statement.
Global Internet infrastructure major Cisco has developed a platform which integrates
information from government, farmers, sensors and satellite data into a single dashboard,
providing real-time status on crop forecasting, weather patterns, plant disease patterns, soil
quality and moisture content. It will now conceptualise a ‘proof of concept’ in effective
knowledge sharing between farmers, administration, academia and industry in Haryana’s
Kaithal district and MP’s Morena district.
Commodity exchange NCDEX has proposed a digital marketplace project offering services in
market linkages, demand aggregation, financial linkages and data sanitisation to farmers in
Andhra Pradesh’s Guntur, Karnataka’s Devanagere and Maharashtra’s Nasik districts.
Ninjacart, a fresh produce supply chain company operating in 11 major cities, will develop a
platform to coordinate all participants in post-harvest market linkages, aligning processes for
multiple supply methods depending on specific produce needs. It will conduct ‘proof of
concept’ projects at Chhindwara and Indore in MP, and Anand in Gujarat.
These pilot projects are part of the Digital Agriculture Mission and will draw on the National
Farmers Database which already includes 5.5 crore farmers identified using existing national
schemes. The Centre has asked States to attach their land records to the database, to grow
it to 8 crore farmers by the end of the year. Some activists have raised privacy and consent
concerns about corporates accessing such a database, as well as the exclusion of tenant
farmers. The Centre has said it is working on a data policy for the agriculture sector to ensure
privacy of farmers’ personal data shared with private organisations.

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ROLE OF PUBLIC PRIVATE PARTNERSHIP :-
ITC embraces PPPs, technical collaborations
approach to scale up social investment programmes
The company has forged 83 Public-Private Partnerships (PPP) with several state
governments and government bodies, 24 technical collaborations with national and global
organisations, and is working with 82 best-in-class NGOs apart from thematic experts for
village-based institutions and other partnerships.
ITC Limited, one of India’s leading multi-business conglomerates, is strengthening its enduring
partnerships with relevant stakeholders to rapidly scale up its community development
programmes. The company has forged 83 Public-Private Partnerships (PPP) with several
state governments and government bodies, 24 technical collaborations with national and
global organisations, and is working with 82 best-in-class NGOs apart from thematic experts
for village-based institutions and other partnerships.
ITC is also working with NITI Aayog to improve agriculture and allied sectors in 27 aspirational
districts of 8 states and has till date covered 2.5 million farmers. Additionally, it has
institutionalised major agriculture practices in several states with the aim of reducing water
use and cultivation costs and improving productivity to make agriculture more sustainable and
climate resilient.
ITC’s partnership with state governments and NABARD are across thematic areas including
Water Stewardship, Agriculture, Biodiversity, Solid Waste Management, Women
Empowerment, Livestock, Sanitation, Vocational Training, and Education. ITC signed six
partnership agreements during 2020-21 with various state governments for soil and moisture
conservation, and education. These partnerships enabled ITC’s Social Investments
Programme to raise a total of Rs. 81.76 crores in 2020-21 by way of community contributions
and external sources for almost all the important interventions across all projects. Of the total
PPPs, several are multi-district PPPs and 6 impact the whole state.
Commenting on the Company’s approach to scale up its CSR programmes, Dr. Ashesh
Ambasta, Executive Vice-President & Head, Social Investments, ITC Ltd said “Given the sheer
magnitude of development challenges, ITC believes in the power of collaborations to
accelerate social development in order to produce deep and enduring impacts at scale.
Accordingly, multi-stakeholder partnerships are at the core of ITC’s Mission Sunehra Kal
programme. We have been, and continue to, actively collaborate with the government for
scale, with apex technical and research institutions to remain contemporary, with NGOs for
effective mobilisation, and with grassroots institutions for local knowledge and sustainability.
This provides the foundation on which to spearhead transformative social initiatives that
significantly benefit the poor and marginalised.”
In 2020-21, the company signed two tripartite MoUs with the Government of Rajasthan under
the Rajeev Gandhi Jal Sanchay Yojana (RGJSY) for the promotion of sustainable livelihoods
based on watershed development in Jhalawar and Hindoli district benefitting 37,295 acres and
10,657 acres of area respectively. It also signed an MoU with the District Rural Development
Agency (DRDA), Bihar for the revival of Ahar and Pyne systems in entire Munger district and
Watershed Development Department of Karnataka for drought-proofing of watersheds in 29
districts covering entire state. These agreements will benefit 1.07 lakh acres in Bihar and 1.12
million acres in Karnataka.

14 | P a g e
In the area of education, ITC this year signed an MoU with Samagra Shiksha, Kamrup district,
Assam to strengthen the capacity of Block Resource Centres and Cluster Resource Centres
on leadership, pedagogy, and academic monitoring of teachers. Similarly, it entered a
partnership with the Women Development and Child Welfare Department of Andhra Pradesh
to build the capacity of Child Development Project Officers and Supervisors of the Integrated
Child Development Services (ICDS) department. This is besides further enhancing the
pedagogy of 28,000 Anganwadi workers in the 6 districts of the state.
ITC’s technical and knowledge partnerships with National and International Organisations
including the Consultative Group for International Agricultural Research (CGIAR) are aimed
at improving the resilience of the ITC Mission Sunehra Kal (MSK) project villages and
preparing farmers to mitigate climate change-related challenges. These partnerships cover
farmers from 1,618 villages of 14 states under the Climate-Smart Villages (CSV) and climate
risk assessment initiative.
The company under its partnership with the International Union for Conservation of Nature
(IUCN) is working towards the revival of key ecosystem services provided by nature while
developing templates for drought-proofing agricultural catchments and achieving unit water
security in factory catchments as part of its tie-up with International Water Management
Institute (IWMI). It has also partnered with WWF-India for river basin water initiative and Better
Cotton Initiative, with International Water Management Institute (IWMI) for developing drought
proofing template and with Tamil Nadu Agricultural University and Vasant Dada Sugar Institute
for water use efficiency in banana, coconut and sugarcane crops.
ITC’s partnership with NGOs and thematic experts is helping it to build empowered
community-based organisations that can function autonomously and enable community
participation in the execution of 139 projects pan India implemented by the company under
the ITC Mission Sunehra Kal (MSK) program. ITC’s community development interventions
under the Mission Sunehra Kal development model are in the areas of water stewardship,
social forestry, Climate Smart Agriculture, women empowerment, Improvement of education
and skilling and Improvement of health and sanitation. The company to date has created
10,524 user groups of 1.64 lakh members with a corpus fund of Rs 22.22 crores
ITC, as an integral part of this partnership model, invests in the financial and project
management skills of partner NGOs to ensure robust outcomes and enable capacity building
through exposure to ITC projects across geographies to cross-fertilise learnings. It has put in
place a process of structured "Dialogue" with NGO partners for pulse check and for feedback
and forward planning.

• ITC embraces PPPs, Technical Collaborations

approach to scale up Social Investment
Programmes
Working with 82 best-in-class NGOs, thematic experts for village-based institutions and other
partnerships; created 10,524 user groups with 1.64 lakh members Working with NITI Aayog
for improving agriculture and allied sectors in 27 aspirational districts in 8 states which covered
2.5 million farmers in 5 seasons
Working with 82 best-in-class NGOs, thematic experts for village-based institutions and other
partnerships; created 10,524 user groups with 1.64 lakh members.

15 | P a g e
ITC Limited, one of India’s leading multi-business conglomerates, is strengthening its enduring
partnerships with relevant stakeholders to rapidly scale up its community development
programmes. The company has forged 83 Public-Private Partnerships (PPP) with several
state governments and government bodies, 24 technical collaborations with national and
global organisations, and is working with 82 best-in-class NGOs apart from thematic experts
for village-based institutions and other partnerships.
ITC is also working with NITI Aayog to improve agriculture and allied sectors in 27 aspirational
districts of 8 states and has till date covered 2.5 million farmers. Additionally, it has
institutionalised major agriculture practices in several states with the aim of reducing water
use and cultivation costs and improving productivity to make agriculture more sustainable and
climate resilient.

ITC’s partnership with state governments and NABARD are across thematic areas including
Water Stewardship, Agriculture, Biodiversity, Solid Waste Management, Women
Empowerment, Livestock, Sanitation, Vocational Training, and Education. ITC signed six
partnership agreements during 2020-21 with various state governments for soil and moisture
conservation, and education.
These partnerships enabled ITC’s Social Investments Programme to raise a total of Rs. 81.76
crores in 2020-21 by way of community contributions and external sources for almost all the
important interventions across all projects. Of the total PPPs, several are multi-district PPPs
and 6 impact the whole state.
Commenting on the Company’s approach to scale up its CSR programmes, Dr. Ashesh
Ambasta, Executive Vice-President & Head, Social Investments, ITC Ltd said “Given the sheer
magnitude of development challenges, ITC believes in the power of collaborations to
accelerate social development in order to produce deep and enduring impacts at scale.
Accordingly, multi-stakeholder partnerships are at the core of ITC’s Mission Sunehra Kal
programme. We have been, and continue to, actively collaborate with the government for
scale, with apex technical and research institutions to remain contemporary, with NGOs for
effective mobilisation, and with grassroots institutions for local knowledge and sustainability.
This provides the foundation on which to spearhead transformative social initiatives that
significantly benefit the poor and marginalised.”
In 2020-21, the company signed two tripartite MoUs with the Government of Rajasthan under
the Rajeev Gandhi Jal Sanchay Yojana (RGJSY) for the promotion of sustainable livelihoods
based on watershed development in Jhalawar and Hindoli district benefitting 37,295 acres and
10,657 acres of area respectively. It also signed an MoU with the District Rural Development
Agency (DRDA), Bihar for the revival of Ahar and Pyne systems in entire Munger district and
Watershed Development Department of Karnataka for drought-proofing of watersheds in 29
districts covering entire state. These agreements will benefit 1.07 lakh acres in Bihar and 1.12
million acres in Karnataka.
In the area of education, ITC this year signed an MoU with Samagra Shiksha, Kamrup district,
Assam to strengthen the capacity of Block Resource Centres and Cluster Resource Centres
on leadership, pedagogy, and academic monitoring of teachers. Similarly, it entered a
partnership with the Women Development and Child Welfare Department of Andhra Pradesh
to build the capacity of Child Development Project Officers and Supervisors of the Integrated
Child Development Services (ICDS) department. This is besides further enhancing the
pedagogy of 28,000 Anganwadi workers in the 6 districts of the state.

16 | P a g e
ITC’s technical and knowledge partnerships with National and International Organisations
including the Consultative Group for International Agricultural Research (CGIAR) are aimed
at improving the resilience of the ITC Mission Sunehra Kal (MSK) project villages and
preparing farmers to mitigate climate change-related challenges. These partnerships cover
farmers from 1,618 villages of 14 states under the Climate-Smart Villages (CSV) and climate
risk assessment initiative.
The company under its partnership with the International Union for Conservation of Nature
(IUCN) is working towards the revival of key ecosystem services provided by nature while
developing templates for drought-proofing agricultural catchments and achieving unit water
security in factory catchments as part of its tie-up with International Water Management
Institute (IWMI).
It has also partnered with WWF-India for river basin water initiative and Better Cotton Initiative,
with International Water Management Institute (IWMI) for developing drought proofing
template and with Tamil Nadu Agricultural University and Vasant Dada Sugar Institute for
water use efficiency in banana, coconut and sugarcane crops.
ITC’s partnership with NGOs and thematic experts is helping it to build empowered
community-based organisations that can function autonomously and enable community
participation in the execution of 139 projects pan India implemented by the company under
the ITC Mission Sunehra Kal (MSK) program.
ITC’s community development interventions under the Mission Sunehra Kal development
model are in the areas of water stewardship, social forestry, Climate Smart Agriculture, women
empowerment, Improvement of education and skilling and Improvement of health and
sanitation.
The company to date has created 10,524 user groups of 1.64 lakh members with a corpus
fund of Rs 22.22 crores
ITC, as an integral part of this partnership model, invests in the financial and project
management skills of partner NGOs to ensure robust outcomes and enable capacity building
through exposure to ITC projects across geographies to cross-fertilise learnings. It has put in
place a process of structured “Dialogue” with NGO partners for pulse check and for feedback
and forward planning.

ITC`S STRATEGIES FOR INVESTMENT : -

ITC's Diversification Strategy Bearing Fruits :-
ITC is embracing digital technologies like never to drive productivity, improve market servicing,
draw actionable insights for sharp-focused interventions, augment sales force capability and
deepen connect with retailers.
ITC over the years has transformed itself into an umbrella group that offers a diversified /
varied product mix. Its position in the FMCG business is on a growth curve under the
leadership of Mr Sanjiv Puri who is taking forward the task of further diversifying company’s
business with a new zeal.
The company, under the guidance of Mr Puri, has been making most of the investments
around FMCG. It is making structural interventions and leveraging synergy of diversity
between FMCG and other buinesses to enhance operating efficiencies and further expand
FMCG growth engine.

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ITC is embracing digital technologies like never to drive productivity, improve market servicing,
draw actionable insights for sharp-focused interventions, augment sales force capability and
deepen connect with retailers. It has deployed innovative delivery models, alternate channels,
expanding reach, pursuing agility in execution, and leveraging digital technologies to efficiently
service market requirements.
To gain deeper consumer insights, it has scaled up utilisation of its Marketing Command
Centre - 'Sixth Sense' which leverages cloud-technology, cutting-edge social-media
engagement tools and a digital marketing & analytics platform.
These interventions are now bearing fruit and is evident in the company’s highest ever
quarterly revenue from the FMCG segment in the 1st half of 2020 despite challenging
operating environment due to Covid-19.
The Company recorded profit after tax at Rs.3232.40 on a Gross Revenue of Rs.11891.91
crores in the 2nd quarter of FY21 achieving a growth of 26% q-o-q and 1.2% y-o-y. These
numbers are backed by strong recovery in revenue across all operating segments including
staples, convenience foods, health & hygiene products leveraging the strong equity of the
company’s brands and a robust portfolio of relevant and innovative products. ITC has
registered profit after tax of Rs.3232.40 crores during the period and launched over 70 new
products with compelling value propositions in the last 6 months.
Coming to FMCG – others (non-cigarette) segment revenue, ITC registered Rs. 3795 crores
representing a growth of 18.4% on a comparable basis on the back of most major categories
enhancing their market standing during the quarter. Segment EBITDA during the period grew
by 66% to Rs. 366 crores with margins expanding by 300 bps y-o-y to 9.7%.
Staples, convenience foods and health & hygiene products which represent ~75% of the
company’s FMCG portfolio and posted strong growth of 25% during the period. Similarly,
discretionary/’out-of-home’ categories posted strong sequential recovery to return to nearly
pre-Covid levels. Company’s FMCG growth was led by branded packaged foods businesses
that delivered a robust performance driven by staples and convenience foods categories and
launch of range of products.
ITC’s progress in the Personal Care segment is marked by smart acquisitions like Savlon
which recorded significant market share gains across sub-segments like antiseptic liquids,
handwash, sanitizers and soaps. Savlon is on course to become a Rs. 1000 crore brand in
terms of annual consumer spend in FY21. The company also has to its credit launch of wide
range of innovative and first-to-market products like Savlon Surface Disinfectant Spray,
Savlon Clothes Disinfectant Spray, Savlon Spray and Wipe, Savlon Germ protection Wipes,
Savlon Hexa Hand Sanitizer, Savlon Hexa Advanced Bodywash, etc. during this period.
ITC Liquids portfolio comprising Handwash & Bodywash has shown steady growth while the
demand for Fragrances category is picking up with rise in demand for ‘on-the-go’ consumption
products.
Nimyle, a 100% natural floor cleaner contributed to the FMCG segment performance with
growing preference for natural products. Similarly, Nimwash, a 100% natural action product
for cleaning fruits and vegetables, gained consumer franchise during the period.
Matches and Agarbatti Business posted strong growth leveraging strong brand equity and
focused initiatives to enhance availability. The company augmented The Mangaldeep Temple
Fragrance of God range of agarbattis with the launch of Marigold & Red hibiscus variants.

18 | P a g e
Company’s paperboards, paper & packaging business is doing well with revenue posting
strong recovery of 42 % q-o-q backed by strong export growth and consumer offtake in
pharma, home care, packaged foods, personal care which recovered to pre-Covid levels while
wedding cards, publication, notebooks remain subdued. The company has been able to
maintain margins in this segment despite volume and pricing pressure through product mix
enrichment, sharp focus on operational efficiency and structural cost-saving interventions to
enhance competitiveness, leverage data analytics and Industry 4.0.
ITC’s agri business has registered robust growth of 12.8% in segment revenue driven by
trading opportunities in rice, mustard, coffee, and higher wheat supplies for Aashirvaad atta.
Company’s value-added portfolio (ex. aqua) comprising spices for ‘food-safe’ markets,
processed fruits, frozen snacks etc. is also doing well posting 25% growth in revenue.
ITC Master Chef Frozen Snacks’ consumer franchise is growing steadily, and its delectable
range is further augmented with the introduction of 13 variants including Farmland Frozen
Vegetables. Its availability is now extended to 116 new markets taking the aggregate to 128
towns.
ITC’s diversification strategy, which took shape under the aegis of Mr Puri and involves
innovation in business models to synergise the building of economic, ecological, and social
capital as a unified strategy, is powering its ESG performance as well. According to
Sustainalytics – a renowned global ESG ratings company ITC has been ranked overall #3
globally on ESG performance in the Food Products industry.

FINDINGS/SUGGESTIONS :-
SWOT ANALYSIS :-
STRENGTHS: ITC LIMITED SWOT ANALYSIS
Brand Image- ITC is a listed company that ranks among the 30 most valuable global brands.
It is among the top 10 companies in India in terms of market capitalization and is among the
top 8 out of 2,646 companies in the BSE 500 Index. ITC is the world’s second-largest cigarette
company with an estimated market share of 8.8%.
Global perspective and deep expertise in food retailing– ITC has built its brands from the
ground up and worked hand in hand with its franchisees to ensure success. ITC operates two
publicly traded companies in India – Aashirvaad Investment and Retail Solutions Ltd and
Yippee! Brands Ltd – that have significant stakes in over 70 retail brands across categories
(including FMCG ).
Leading in other sectors- ITC Hotels is a cutting-edge collection of luxury hotels in India’s
prime business and tourism destinations. With the first property opening its doors in 1975, ITC
Hotels today is a pioneer in creating a new benchmark for the hospitality industry with its
unique concept, Responsible Luxury. Also with decades of experience in personal care, home
care, catering and other segments across high-growth sectors, ITC’s latest brand – ITC
MasterChef – is focused on providing consumers with the most useful information they need
to make a purchasing decision.

WEAKNESSES: ITC SWOT ANALYSIS

Inefficient Cost Management System- ITC has been focusing on diversification in their core
FMCG businesses but has failed and cannot garner the expected success rate. Being the only

19 | P a g e
conglomerate in the FMCG industry, the company has gotten severely affected due to the
reduction in expenditures brought by the recession.
Highly dependent on Tobacco- ITC’s revenue comes from two businesses – tobacco and
FMCG. Tobacco contributes to 86% of total revenue and FMCG contributes 14%.
Incremental tax burden on the Cigarette Business – The newly enforced Goods and Services
Tax Act, 2017 has increased the overall tax rate, making a huge difference in the cigarette
business of ITC. If we take into consideration the tax slab before GST and compare it to the
rates levied after GST, we notice that there is a significant increase happening in the cigarette
business of ITC. For example, before GST 20 cigarettes were taxed at Rs.10 however, now
40 cigarettes are taxed at Rs.20 making cigarettes way more expensive.
OPPORTUNITIES: ITC SWOT ANALYSIS
Harnessing India’s Growth- Indian economy will grow by about 8-9 % in the next 10 years
which helps ITC to create more and more opportunities for itself in the food and beverages
business. As the GDP increases, so is the purchasing power of customers which means that
they will be able to buy branded products instead of unbranded products for better quality.
Also due to an increase in purchasing power of the middle class, they are now willing to eat
out or dine out and hence hotels and restaurants will see an increase in their sales resulting
in new opportunities for ITC.
Online Community for Farmers- The e-Choupal initiative offers new opportunities for small
farmers, by improving the quality of production information flow, creating new channels of
communication between producers and buyers, and providing a forum for the resolution of
issues related to farming online. This initiative will serve as one of many vital tools to
sustainably increase agricultural productivity, are beneficial in addressing farmer suicides and
other chronic issues plaguing this sub-sector within India.
THREATS: ITC SWOT ANALYSIS
Competition from Other Sectors- The threat of ITC lies in other companies able to produce
similar products for a lower cost. Customers will choose the outsourcing company with the
lowest cost product since it is less expensive for them. ITC’s competitive advantage will be
lowered as outsourcing companies lower their prices.
Governments are tightening laws on Tobacco Industry- A ban on print advertising of cigarettes
will restrain ITC from its potential to reach out to consumers and promote its products. Further,
several other crucial fiscal policies such as an increase in Excise Duty and increased taxes
under GST are some of the obstacles that threaten this business.
CONCLUSION

ITC has touched the lives of consumers across India, whether it is in the food and beverages
space through over 275+ strong brands or in various social initiatives helping improve the
quality of life.
ITC’s well-known household brands have been developed in markets with high growth
potential. There are problems, let alone to conquer these markets but also to establish a
foothold. On the one hand, it is questionable whether ITC will be able to keep up with the rapid
growth of its competitors in these markets using its conventional marketing strategies because
they have already established strong positions in such markets.

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REFERENCES :-
• https://economictimes.indiatimes.com/markets/stocks/news/itc-tanks-on-new-
cigarette-policy-analysts-say-long-term-story-
intact/articleshow/80135526.cms?from=mdr

• https://www.itcportal.com/sustainability/sustainability-report-2006/html/itc-
impacts.aspx

• https://en.wikipedia.org/wiki/ITC_Limited

• You tube.

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