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ITC to invest Rs 500 Crore in Assam

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India’s largest consumer goods conglomerate company – ITC Ltd to invest Rs 500 crore in the fast moving consumer goods sector, especially in the food processing industry, in Assam.

ITC Chairman Y C Deveshwar has also assured Chief Minister Tarun Gogoi that ITC would set up industrial units at Chaygaon and Dhubri recently.

Founded in 1910, ITC is one of the largest multi-business corporate enterprises in the country with a turnover of around US 6 billion Dollars. The company’s non-tobacco businesses, including food, personal care, hotels, paper, agriculture, information technology and others currently accounted for around 40 per cent of its revenue.

Adding another good news for Assam, Reserve Bank of India Governor D. Subbarao has promised to add 200 more bank branches in rural locations in the state, with credit to micro, small and medium enterprises (MSME) sector extended to 3,800 crore from the existing 2,500 crore in the next fiscal year.

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