ITC Full Form: ITC stands for Imperial Tobacco Company of India Ltd; the name has been changed to Indian tobacco Company when it got transferred to the Indian government. ITC was formed in the year 1910 on August 10th.
History of ITC:
The headquarter of ITC is situated in Kolkata, West Bengal, it is a diverse multinational company that produces various types of consumer goods, apparel, cigarettes, personal care, etc. ITC started manufacturing business in the year 1979 through packaging, printing and paperboards.
ITC is known to own various range of famous and popular brands like:
- Gold flake
- Silk cut
- Royal ashirvad
- American club
- India kings
- Navy cuts
- Duke and royal
ITC Full Form: ITC is considered as one of the foremost and leading private organizations that deal with business in various sectors including fast-growing consumer goods, cigarettes, cigars, apparel, agricultural business, personal care, incense sticks, paperboards, and packaging along with match sticks and many other items.
Few other famous brands are also known to do business like:
- Fiama Di Wills,
- Savlon Soap and Handwash,
- Essenza Di Wills,
- Superia and
- Engage, etc.
Interesting facts about ITC:
- During the initial days of establishment, ITC began its journey as a British owned company. Its main focus was only on the agricultural resources, following which ITC made partnerships with the farmers in the year 1911 for doing the leaf tobacco business.
- After the success of the agricultural business, ITC then launched its own business hotel and named it ITC- Welcome Group Hotel Chola in 1975.
- At present, the total market value of ITC Company is more than 70000 crores.
- ITC Company does the business of 12000 crores rupees every year.
- ITC has more than 300 employees from 80 different nationalities working only in major offices. According to the annual survey of the company, it is noted that ITC has more than 28000+ employees directly working under the name.
- It provides employment to people from all over the world.
- ITC Company has a mutual mandate with the World Health Organization and United Nations.
- In some instances, ITC is also referred to as International Trade Centre.
- ITC helps in promoting International Trade so that the world economy will flourish helping poor countries.
- Meera Shankar is the first-ever woman director of the ITC board. She is also an additional non-executive director of the company. Initially, she was made the brand ambassador of Indian origin to the USA in the year 2009-2011, and then she joined ITC Company in 2012 as the director.
- ITC’s equity shares are entered on Calcutta Stock Exchange (CSE), Bombay Stock Exchange (BSE), and National Stock Exchange of India (NSE).
International Trade Programs:
ITC Full Form: ITC launches many types of trade programs in order to promote International Trade in different industries. Few successful programs by ICT are discussed below:
- She Trades for Women
- Gambia Youth Empowerment Project
- Ready4 Trade Central Asia
- Advancing Afghan Trade in 2016
- Euro-Med Trade and Investment Facilitation Mechanism as a free online portal
- Ethical Fashion Initiative
- Netherlands Trust Fund
- EU- Sri Lanka Trade related assistance
- Non- Tariff measures
Objectives of ITC:
With the aim of expanding their business, ITC Company focuses mainly on following the mentioned below objectives for a smooth-running organization.
- The main objective of ITC is to make available cheap goods worldwide that are easily accessible to people.
- Though ITC personally makes huge profits it also sees that there are low tariffs in countries.
- ITC also gives its contribution in making policies that will impact the world economy.
- ITC works on setting different National groups that are included in the organization.
- ITC promotes heterogeneous markets.
- ITC is known to have all the control over different countries’ foreign business policies.
- ITC works towards offering sustainable and excellent value to all the stakeholders.
- The main values of ITC include customer satisfaction, national orientation, maintaining respect for all the people, working towards the innovation of products and services.
FAQs: ITC Full Form
Q1. Is ITC an Indian Company?
A1. Yes, ITC is an Indian conglomerate Company owned by Sanjiv Puri. ITC has 13 businesses in 5 segments that deal in hotels, software, packaging, printing, etc.
Q2. Does ITC manufacture cigarettes?
A2. Yes ITC is known to manufacture different brands of cigarettes like Insignia, Classic, India Kings, Scissors, Gold Flake, American Club, Berkeley, Wills Navy Cut, Players, Capstan, Bristol, Flake, Silk Cut, Duke & Royal.
Q3. How many warehouses does ITC have?
A3. ITC owns over 39 warehouses in India, it is known to use a minimum of 800 trucks for transporting the shipments all across the country.