ITC unveils agricultural initiatives and farmer-centric approach at 113th AGM
At ITC Limited's 113th Annual General Meeting, Chairman Sanjiv Puri emphasized ITC’s farmer-centric initiatives and future growth strategies. Key achievements include the ITCMAARS ecosystem, Climate Smart Agriculture covering 2.8 million acres, and tech advancements like AI advisories and the KrishiMitra chatbot. ITC’s vision prioritizes sustainability, decarbonization, and rural empowerment.
In an address at ITC Limited's 113th Annual General Meeting, Chairman and Managing Director Sanjiv Puri highlighted the company's achievements in agriculture and laid out a strategic vision for future growth. Emphasizing ITC’s commitment to rural empowerment, Puri showcased several initiatives that underscore the company's farmer-centric approach and innovative use of technology.
Farmer-Centric Approach
Puri reaffirmed ITC’s dedication to enhancing the resilience of India's agricultural sector. By focusing on empowering farmers, ITC has significantly contributed to rural development. The ITCMAARS ecosystem, for example, integrates 1,650 Farmer Producer Organizations (FPOs) and connects 1.5 million farmers. This initiative aims to expand its reach to over 10 million farmers by 2030, leveraging advanced agri-tech solutions to enhance productivity and sustainability.
Strengthening Agri-Value Chains
ITC supports 20 agricultural value chains, sourcing over 3 million tonnes of agri-commodities from 200 districts and exporting to 85 countries. This vast network not only strengthens local economies but also ensures a steady supply of quality produce to global markets.
Climate Smart Agriculture
A cornerstone of ITC’s strategy is its Climate Smart Agriculture (CSA) initiative, which currently covers 2.8 million acres. This initiative aims to increase farmer incomes by up to 90% and reduce greenhouse gas emissions by 13% to 66%. ITC plans to extend this initiative to 4 million acres by 2030.
Technological Advancements
ITC is at the forefront of integrating technology into agriculture. The company utilizes AI-based advisories and drone technology to assist farmers. Additionally, ITC recently launched 'KrishiMitra', a GenAI-based voice chatbot designed to provide farmers with real-time assistance and information.
Water Security and Biodiversity Conservation
Addressing water security, ITC's Integrated Watershed Development Programmes span 1.6 million acres, featuring over 32,000 water structures. These initiatives aim to create a water-harvesting potential equivalent to five times ITC's net water consumption by 2030.
In terms of biodiversity, ITC’s conservation efforts cover 470,000 acres, focusing on ecosystem services, sustainable agricultural landscapes, and mangrove conservation to create carbon sinks.
Strategic Vision: ITC Next
ITC’s strategic vision, 'ITC Next', prioritizes decarbonisation and adaptation to enhance business resilience and competitiveness. By addressing national priorities, ITC aims to set new benchmarks in sustainable business practices.
Collaborations and Partnerships
In partnership with the governments of Madhya Pradesh, Karnataka, and Maharashtra, ITC is promoting climate-smart agriculture and water literacy. These collaborations are designed to drought-proof 300,000 acres, further showcasing ITC's commitment to sustainable agricultural practices.
As ITC continues to innovate and expand its agricultural initiatives, the company is set to play a pivotal role in shaping the future of Indian agriculture, ensuring prosperity for farmers and sustainability for future generations.
