![]() ITC Sangeet Research Academy was set up at Calcutta in 1977. The shareholding went over 60% in 1976 and more hotels were started by the company in the following years. ITC chose the hospitality sector for its potential to earn high levels of foreign exchange, create tourism infrastructure and generate large-scale direct and indirect employment. ITC entered into the hospitality sector with hotel business in 1975 with the acquisition renaming of ITC Welcomgroup Hotel Chola in Madras. The Indian shareholding grew further to 40% during this time. With the unfolding diversification plans, the name of the company was changed to 'I.T.C. In 1973, ITC set up its integrated research center in Bangalore, aimed at diversification and venturing into newer businesses with research and development. Innovative market campaigns and electronic data processing were started in the 1970s. ![]() ITC also became the first company in India to start from the 1971 Scissor's Cup. As the company's ownership was progressively Indianised, under Haskar's leadership, the name of the company was changed from "Imperial Tobacco Company of India Limited" to "India Tobacco Company Limited" in 1970. During the 1960s, technology was given more focus on setting up cigarette machinery and filter-rod manufacturing facilities aimed at achieving self-sufficiency in cigarette-making.Ījit Narain Haskar became the company's first Indian chairman in 1969 and this was crucial in building up the Indian management for the company. ITC also became the first Indian company to foray into consumer research during this time. ![]() The first step towards Indianization was taken in the same year with 6% of the Indian shareholding of the company. The company was converted into a Public Limited Company on 27 October 1954. ( July 2021) ( Learn how and when to remove this template message) Unsourced material may be challenged and removed. Please help improve this section by adding citations to reliable sources. Towards Indianisation and Business Diversification The company acquired the manufacturing business of Tobacco Manufacturers (India) Limited and the complementary lithographic printing business of Printers (India) Limited in 1953. Then, a factory for printing and packaging was set up in Madras in 1949. ITC helped set up an indigenous cigarette tissue-paper-making plant in 1946 to reduce import costs significantly. ITC acquired Carreras Tobacco Company's factory at Kidderpore in 1935 to further strengthen its presence. In 1928, construction began for the company's headquarters, the 'Virginia House' at Calcutta. The first cigarette factory of the company was set up in 1913 in Bangalore. Under the company's umbrella, the "Indian Leaf Tobacco Development Company Limited" was formed in Guntur district of Andhra Pradesh in 1912. Since the company was primarily based on agricultural resources, it ventured into partnerships in 1911 with farmers from the southern part of India to source leaf tobacco. Wills on 24 August 1910 as a British-owned company registered in Kolkata. "ITC Limited" was originally named "Imperial Tobacco Company of India Limited", succeeding W.D. History Tobacco business and early years 1.2 Towards Indianisation and Business Diversification.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |