Full Form of ITC
ITC Full Form
All of us have heard about the ITC Company. Many of us buy the products of this company. And there is no doubt about it that this company manufactures some of the best products. ITC is a multinational company that has its headquarters in Kolkata. ITC was first established as the Imperial Tobacco Company of India Limited in the year 1910. In the year 1970, it was later renamed the Indian Tobacco Company Limited. Now, ITC is not just an acronym but is a diversified name. The Indian Tobacco Company has again changed its name to ITC Limited.
ITC manufactures cigarettes, packaging, paperboards, etc. ITC has also tried its hands in Agriculture Business. The total number of employees working for the company is around 37,000. The company is at more than 60 locations. Well, an interesting fact is that Forbes Magazine listed this company. The company has been there for over 100 years thereby, manufacturing several products. Now, let us talk about some historical points regarding the ITC Company.
- The company’s name has been changed twice, i.e., Imperial Tobacco Company of India Limited (1910) and Indian Tobacco Company Limited (1970). It is a British owned company in Calcutta. Initially, the main business of the company was agriculture.
- In the year 1911, the company ventured with the farmers of South India to make leaf tobacco. Farmers supplied the leaf tobacco to the company, and as a result, the company yielded huge amounts of profit.
- Under ITC, one more company was formed, i.e., Indian Leaf Tobacco Development Company Limited. The company was located in Andhra Pradesh. Later in the year 1913, ITC constructed the first cigarette factory in Bangalore.
- After 6-7 years of producing tobacco, the company laid its hands on the printing and packaging business. ITC is one of the largest printing and packaging houses in India.
- ITC took its first step from being a British owned company to an Indian Company by making it a Public Limited Company in 1954. ITC introduced a consumer research centre too in the same year.
- Ajit Narain was the first chairman of the company. The shareholdings of the company grew by 40%. Later in the year 1975, ITC went into the hospitality business, thereby opening several hotels. This was considered a smart move by the company as with more hotels; there were increased foreign exchange levels, tourism, etc. The hotel was named ITC Welcomegroup.
These are some historical points regarding the ITC Company. ITC has many companies listed under it; ITC Agro Tech Limited, ITC Classic Finance Limited, ITC Global Holding Private Limited, etc. As we all know, ITC is known for selling cigarettes because millions of people use cigarettes and tobacco. ITC manufactures 81% of cigarettes and has a variety of brands to it. Some brands include Gold Flake Kings, Insignia, India Kings, Gold Flake Premium, etc. Now, let us look at some of the other products offered by the company.
- ITC manufactures personal care products like perfumes, shampoos, skincare and other products. The primary brands include Fiama Di Wills, Vivel, Superia, Engage, etc.
- The stationery products produced by ITC include major brands like Classmate, Colour Crew, etc. Classmate is one of the largest brands in India in terms of stationery.
- ITC also manufactures safety matchsticks and incense sticks. Mangaldeep is one of the brands of these sticks.
- ITC has also laid its hands in the hospitality sector. The company has opened about 90 hotels across India and is known for having the second-largest hotel chain in India.
- ITC has also opened an IT firm known as ITC Infotech.
- In terms of Dairy Products, ITC manufactures several products like milk, cheese, etc. The primary brand is Sunfeast Wonderz Milk.
Well, this is some information regarding the Indian Tobacco Company Limited. It is interesting to note that ITC has other meanings, as well. It doesn’t only mean Indian Tobacco Company Limited. So, let us look at one more full form of ITC.
ITC stands for Independent Telephone Company. This company provide telephone services in the US and Canada.
The company set this service up to reach the rural masses. The company is aimed at providing quality services to the rural sector and communities.
So, these are the two meanings of the term ITC. The full form is the Indian Tobacco Company Limited. It is interesting to note that the company has contributed a lot to the economy since 1910. From being a British owned company; it has now been Indianized by the first chairman, i.e., Ajit Narain. Thus, both the full forms of ITC aims at providing quality services to the people.