India’s near-term demand outlook remains uncertain in the face of relentless rise in covid-19 cases and the shape of the economic recovery, said Cigarettes-to-packaged goods conglomerate ITC Ltd. on Friday i.e. 4th September. However, they added, the company has been leveraging digital capabilities–across manufacturing and supply chain–as it tries to expand the reach of its products.
Sanjiv Puri, chairman, ITC Ltd., told shareholders at the company’s 109 AGM on Friday i.e. 4th September, “The near-term outlook remains uncertain as consumer trends and industry dynamics constantly evolve in the backdrop of the yet unfolding impact of the pandemic and shape of economic recovery. Your company shall continue to closely monitor the situation and respond with agility to strengthen its market standing while sharply focusing on cost reduction measures.”
Sanjiv Puri, chairman, ITC Ltd said, “Quite expectedly, the demand for essential products in the food and hygiene segments witnessed a surge. There is a growing preference for organic, naturals and fresh products though consumers also seek indulgence, comfort eating and even resort to “revenge‟ consumption. Frozen food, ready to eat or cook meals score high on convenience, during these trying times.”
