What Is the Full Form of ITC in Industry?

Full Form of ITC in Industry

The Full Form of ‘ITC’ in Industry is ‘Indian Tobacco Company’.

Full Form of ITC

ITC, short for Indian Tobacco Company, is a leading Indian conglomerate with interests in consumer goods, tobacco, hospitality, and agriculture. Based in Kolkata, West Bengal, ITC has been in the business of manufacturing and selling cigarettes for over 100 years. The company has risen to become one of India’s most respected companies and is listed on the Bombay and National Stock Exchanges.

ITC was founded in 1910 as Imperial Tobacco Company of India Ltd., by the British American Tobacco Company (BAT). It began operations at Bengaluru (then Bangalore) with a small factory that produced cigarettes. Over the years, ITC gradually expanded its product portfolio to include cigars and other tobacco products. The company also branched out into other industries such as hotels, paperboard mills, software development centers and information technology services.

In 2001, ITC underwent a major restructuring exercise. This resulted in four independent divisions: Fast Moving Consumer Goods (FMCG), Hotels & Resorts Services (HRS), Agri Business & Information Technology (IT) Services and Cigarettes & Other Tobacco Products (OTP). Under the new structure, each division operated independently but shared certain common services such as finance, legal services and human resources.

Today ITC is one of India’s largest multi-business corporations with revenues exceeding US$10 billion. Its FMCG business includes foods such as snacks and confectionery items; personal care products like shampoos and soaps; stationery items like pens; safety matches; incense sticks; cosmetics; homecare products such as detergents; apparel; footwear; lifestyle accessories like bags and wallets; education books; computer peripherals etc. It also runs an e-choupal project which helps farmers increase their productivity by providing them access to information about weather conditions, market prices etc., through internet kiosks located in rural areas across nine states of India.

The company’s OTP division manufactures several brands of cigarettes including Gold Flake Kings Mild Filter/Mild Filter Cigarettes, Navy Cut Cigarettes and Classic Filter/Mild Filter Cigarettes which are sold all over India through retail outlets as well as online stores. In December 2018 ITC launched its ‘iQOS’ brand of heated tobacco products which are smokeless alternatives to cigarettes that deliver nicotine without burning tobacco leaves using electric heaters instead of combustion methods used by regular cigarettes. The iQOS range includes two devices – IQOS 2.4 Plus Heated Tobacco System Starter Kit & IQOS 3 Multi HeatStick Heated Tobacco System Starter Kit – along with multiple flavours – Marlboro HeatSticks Menthol & Marlboro HeatSticks Smooth – currently available in select cities across India including Mumbai, Pune & Hyderabad among others.

In addition to these businesses ITC also operates under three other verticals: Paperboards & Specialty Papers Division which produces paperboard for packaging applications as well as specialty papers for printing needs from its mill located at Bhadrachalam in Telangana state; Hotels Division managing a chain of luxury hotels across various cities throughout India under the brand name Welcomhotels; Education & Stationery Division operating five schools located near Kolkata offering quality education from pre-primary level till class 12th along with wide range of stationery products under brand name Classmate targeted towards students at all levels from primary school right up to college level students.

Overall ITC continues to be one of India’s most admired companies due to its long standing commitment towards sustainable growth while contributing significantly towards nation building initiatives through CSR activities focused on improving livelihoods of rural communities where it operates largely through facilitating access to healthcare facilities along with awareness programs related to health issues like HIV/AIDS prevention etc., providing clean drinking water solutions especially during natural calamities or droughts among many other projects run by it through its ‘e-Choupal’ initiative aimed at supporting rural farmers directly via digital means thereby helping reduce poverty levels across rural parts of the country due to increased agricultural produce generated by them


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Author

  • Johnetta Belfield

    Johnetta Belfield is a professional writer and editor for AcronymExplorer.com, an online platform dedicated to providing comprehensive coverage of the world of acronyms, full forms, and the meanings behind the latest social media slang.

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