The DPIIT (Department for Promotion of Industry and Internal Trade) has formed a strategic partnership with ITC Ltd to support startups in the manufacturing sector. This alliance is aimed at fostering innovation and enabling startups to scale effectively.
The agreement highlights several areas where ITC will work with startups to deploy innovative solutions, including:
A MoU (Memorandum of Understanding) has been signed, establishing a framework where ITC’s extensive market network and industry experience will complement DPIIT’s initiatives to support startups.
DPIIT Joint Secretary Sanjiv emphasised the goal of creating scalable and transformative solutions that foster a supportive environment for startups.
Startup India Director Sumeet Kumar Jarangal added that this partnership would provide startups with easy access to markets and opportunities to develop solutions aligned with ITC’s business needs.
Anil Rajput, President of ITC Corporate Affairs, highlighted the MoU’s focus on boosting digital capabilities to enhance operational excellence in manufacturing. He also stressed the importance of renewable energy solutions to strengthen ITC’s sustainability efforts.
This partnership aims to drive innovation, enable future-ready solutions, and promote sustainable growth in the manufacturing sector.
ITC Hotels is aiming to expand internationally, starting with neighbouring countries and West Asia. The company is set to list its new entity after demerging its hotel business, which will give the hotel division more autonomy. The listing date is expected in the next few weeks, though it’s not yet confirmed.
Currently operating 140 hotels in India, ITC intends to grow its portfolio to over 200 hotels. The expansion will be focused on a more asset-light model through management contracts. ITC’s hotels are known for their iconic cuisine and exceptional service, which the company believes will help them compete with established global players.
The hotel chain is also dedicated to sustainability, with all its properties meeting low-emission standards and holding significant green certifications. It operates under six brands: ITC Hotels, Fortune, Mementos, Storii, WelcomHeritage, and Welcomhotel, and recently opened its first hotel in Sri Lanka.
In India, ITC is shifting from an asset-heavy to an asset-light strategy, adding new brands like Mementos and Storii to cater to a wider market.
ITC Limited, based in Kolkata, is an Indian conglomerate with operations in six key areas: FMCG, hotels, agribusiness, IT, paper products, and packaging. A notable portion of its revenue comes from tobacco products.
ITC share price opened at ₹438.05, hit a high of ₹439.45 and a low of ₹432.10 and was trading at ₹432.85 as of 10:13 AM IST, down 1.03%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 16, 2025, 10:17 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
