Sanjiv Puri’s speech at ITC AGM

ITC to provide innovative sustainable packaging solutions to the industry

Sanjiv Puri, chairman and managing director, ITC. Photo: ITC
Sanjiv Puri, chairman and managing director, ITC. Photo: ITC

In his AGM address Sanjiv Puri, chairman and managing director, ITC, shared his vision for ‘ITC Next – Building a Competitive, Future Tech, Climate Positive and Inclusive Enterprise’. A relevant excerpt from the speech is below.

I am immensely satisfied that ITC’s Paperboards & Paper Business exemplifies triple bottom line contribution with industry-leading performance, environmental stewardship and inclusive growth models that support millions of livelihoods.

The ITC Next vision envisages a strategic focus on promising growth vectors by scaling up value-added paperboards and pioneering Next Generation sustainable packaging solutions. Investments in Industry 4.0, together with an intensified focus on technological excellence, integrated and renewable fibre value chain and import substitution, are enhancing competitiveness by setting new benchmarks in productivity, quality and strategic cost management. 

ITC is developing innovative sustainable packaging solutions on the laminated board and moulded fibre platforms and has recently launched several B2B brands to provide innovative options to the food and beverages and takeaway segments, amongst others. Given the heightened consumer and regulatory pressures to substitute single-use plastics, this area offers immense potential, and the company is committed to making a growing contribution to this sector.

ITC’s investment to support sustainability

As valued shareholders, you will be delighted that ITC’s Paperboards Business contributes to several national priority areas. Enabling large-scale climate action, import substitution and livelihood support, the company has anchored an extensive afforestation program. Cumulatively, the program has covered 9.5 lakh acres, supporting over 170 million person days of employment. It was the first in India to receive the Forest Stewardship Council-Forest Management (FSC-FM) certification and is today the leading provider of FSC-certified paper and paperboards in the country. 

It has also invested in India’s first and only Bleached Chemical Thermo Mechanical Pulp Mill to substitute imported softwood pulp through innovative technologies and support additional livelihoods along the pulp value chain. Scaling new heights in environmental leadership, investments were recently made in a state-of-the-art high-pressure recovery boiler at Bhadrachalam, which will significantly reduce emissions and costs whilst enhancing pulp productivity.

This year, a stellar performance with 36% growth in segment revenue and nearly 55% in segment results. The strategic thrust on product mix enrichment, structural cost management, sustainable packaging and Industry 4.0 will continue to drive competitively superior performance in the years ahead.

The impact, resilience, and growth of responsible packaging in a wide region are daily chronicled by Packaging South Asia.

A multi-channel B2B publication and digital platform such as Packaging South Asia is always aware of the prospect of new beginnings and renewal. Its 16-year-old print monthly, based in New Delhi, India has demonstrated its commitment to progress and growth. The Indian and Asian packaging industries have shown resilience in the face of ongoing challenges over the past three years.

As we present our publishing plan for 2023, India’s real GDP growth for the financial year ending 31 March 2023 will reach 6.3%. Packaging industry growth has exceeded GDP growth even when allowing for inflation in the past three years.

The capacity for flexible film manufacturing in India increased by 33% over the past three years. With orders in place, we expect another 33% capacity addition from 2023 to 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels have grown similarly. The numbers are positive for most of the economies in the region – our platform increasingly reaches and influences these.

Even given the disruptions of supply chains, raw material prices, and the challenge of responsible and sustainable packaging, packaging in all its creative forms and purposes has significant headroom to grow in India and Asia. Our context and coverage engulf the entire packaging supply chain – from concept to shelf and further – to waste collection and recycling. We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers.

In an admittedly fragmented and textured terrain, this is the right time to plan your participation and marketing support communication – in our impactful and highly targeted business platform. Tell us what you need. Speak and write to our editorial and advertising teams! For advertisement , for editorial and for subscriptions

– Naresh Khanna

Subscribe Now
unnamed 1


Subscribe to our Newsletter

As 2023 begins and FY 23-24 unfolds, will you support us?

What lies in store for the packaging industry in India and South Asia this coming year? Inflation, disruption of supply chains or environmental regulation? Or the resumption of high rural demand, continued investment and industry consolidation? Whatever happens, Packaging South Asia will be there, providing clarity and independent technical and business information in India and South Asia and around the world. We are a compact Indian organization bringing a window of fair and rigorous technical and business information that the industry can access this year and beyond. Please support us with your advertising and subscriptions, to keep us going and growing.

Thank you.


Please enter your comment!
Please enter your name here