ITC chief calls for business models that are people, planet centric

ITC Ltd chairman and managing director Sanjiv Puri on Friday said that there is a need to create business models that put people and the planet at the centre, as enterprises have a social role to play.

Speaking at an event of the Merchants' Chamber of Commerce and Industry (MCCI) here, Puri said that the "challenges are daunting because we are living in a very different world".

"There is a need to reimagine how we do business in future with a focus on innovation, sustainability, resilience and skilling. And we need to create business models that put people and the planet at the centre", he said.

Puri said circularity is a trend that is picking up.

Regenerative business models would come in, and that is an opportunity because things will be created from scratch, he said.

"Digitisation and digital transition in the services economy is a reality, and India has a big advantage. Also, resilience in the supply chain is important," Puri said.

Investments in innovation and R&D are equally required, he said, adding that this is an area that India lacks.