ITC is diversifying its tobacco enterprise to manufacture and export nicotine and nicotine-spinoff items to capture the growing need for oral and vaping items in the US and EU marketplaces.
The company’s yearly report for FY21 mentions that it has set up a wholly-owned subsidiary, IndiVision, and has obtained required regulatory approvals for placing up a facility in the vicinity of Mysuru, Karnataka.
The facility, which will manufacture nicotine and nicotine salts, will conform to stringent US and EU pharmacopoeia expectations that outline purity amounts at 99.2 for each cent for nicotine meant for pharmaceutical items. ITC will leverage the institutional abilities of its century-outdated leaf tobacco enterprise for this.
ITC’s cigarettes enterprise noticed disruptions across the benefit chain with the onset of the Covid-19 pandemic. The enterprise stated in its yearly report that with easing of restrictions and improvement in mobility from September 2020 onwards, the enterprise recovered progressively