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Demonetisation made our shampoo, soaps, biscuits unavailable at stores: ITC

Shareholders expressed grievances that ITC's FMCG products were difficult to locate at super stores

Press Trust of India  |  Kolkata 

A man talks on his mobile phone as he walks past an ITC office building in Kolkata. Photo: Reuters

The on Friday said that the government's drive had led to disruptions in the wholesale trade channels for the company's "In the recent past, there had been disturbances in the wholesale channels due to which led to unavailability of ITC's in many stores", CEO of the company said while replying to shareholders' at the AGM here. The shareholders expressed grievances that ITC's were difficult to locate at super stores.

The company manufactures a plethora of FMCG (non-cigarette) ranging from shampoo, soaps, biscuits, perfumes, packaged foods and others. Puri, echoing Chairman Y C Deveshwar, said that there were many practical difficulties in getting store space which would go away once the segment assumed enough scale. Expressing concern over the taxation on cigarettes, Puri said "It is a major cause for worry". There had been 202 per cent rise in which had led to smuggling of cigarettes and shift towards other forms of tobacco consumption. Regarding the hotels business, he said that the industry was poised for a boom and many property were currently under construction. recently commissioned the integrated consumer goods manufacturing facility at Guwahati.

First Published: Fri, July 28 2017. 13:57 IST