Mumbai, April 3: Tobacco major ITC Limited plans to invest Rs 1,000 crore in its e-choupal and agri-business over the next seven to 10 years, chairman Y. C. Deveshwar said today.
“We plan to invest the amount in the ongoing agricultural projects, including farm forestry, watershed development and e-choupals,” Deveshwar said at the Agriculture Summit 2003 organised by the Confederation of Indian Industry.
ITC has already invested Rs 57 crore in its e-choupals, which function as an intermediary for food and farm products supply.
The company has connected around 11,000 villages across 14 states electronically. ITC is setting up six choupals per day and hopes to recover the costs within two to three years. “We plan to extend the interactive transaction and fulfilment channel of e-choupals to cover 100,000 villages over the next decade,” he added.