ITC’s Rs 20,000‑crore capex to span all businesses; AI strategy built on efficiency, new growth engines: Sanjiv Puri | EXCLUSIVE

ITC Ltd will invest Rs 20,000 crore across its businesses over the medium term, Chairman Sanjiv Puri said on the sidelines of the NASSCOM Technology & Leadership Forum, outlining the company’s three‑pillar approach to artificial intelligence and new‑age growth opportunities.

Puri said ITC is deploying AI “through three distinct lenses”, boosting operational efficiency, tackling problems the company “could not solve earlier,” and building new business lines through digital ecosystems. He highlighted initiatives such as ITC Maars and ITC Fresh Fruits as examples of how technology is enabling fresh opportunities while supporting farmers and strengthening the company’s agri‑value chain

“We are looking at AI in three ways,” Puri said, explaining the company’s overarching technology playbook. “One is to be more efficient and effective at what we do, whether it’s the supply chain or the marketing pieces or our manufacturing systems.” He added that the second pillar revolves around using new tools to address challenges that were earlier beyond the company’s scope. “We do some climate‑risk modelling now for our adaptation plans, which we could not do earlier,” he noted.

The third leg of ITC’s AI strategy, Puri said, is focused squarely on innovation and new revenue streams. “How are we using this to create new business opportunities?” he asked, pointing to businesses such as ITC Maars and ITC Fresh Fruits as examples. “ITC Maars… creates a lot of societal value because it empowers farmers,” he said, adding that the fresh fruits business “is leveraging our capabilities but riding on the digital ecosystem, which has created a new business opportunity for us.”

Speaking about corporate restructuring following the hotels demerger, Puri stressed that any future reorganisation will be dictated by the company’s strategic objectives, not external pressure. “The organisation strategy has to be done in a fashion that makes the enterprise more competitive, that positions it well to succeed and create enduring value,” he said.

He added that ITC evaluates “the pros and cons in each arrangement,” and will pursue whatever best suits the business context. While the hotel business was spun off due to attractive opportunities in hospitality, Puri said the current structure delivers significant synergy benefits. “Given the amount of advantages we have through synergy at the moment, we believe that the arrangement we have works well for us,” he said.

On the newly demerged hotel business, Puri confirmed an aggressive expansion pipeline. “We are opening hotels every month,” he remarked, signalling that the standalone company is being positioned for sustained growth.

With the company pursuing growth across FMCG, agriculture, hospitality and digital‑led ventures, Puri said capital investment remains a central part of ITC’s strategy. “Investment is integral to our business plans because we want to grow rapidly,” he said. “We have a capex of about Rs 20,000 crore for the medium term and it spans all our businesses.”

The spending will support capacity expansion, supply‑chain strengthening, digital capabilities and new initiatives, including those tied to AI‑enabled operations and data‑driven agriculture.