Kolkata: Diversified conglomerate ITC Ltd on Friday reaffirmed its commitment to long-term investment plans in Nepal despite the recent unrest in the Himalayan nation.
Chairman and Managing Director Sanjiv Puri stated that the company’s expansion plans in fast-moving consumer goods (FMCG) and the hotel sector in Nepal remain on track. “The recent unrest in Nepal is not derailing any of ITC’s investment plans in the Himalayan nation. Now, things are improving,” Puri told reporters on the sidelines of the MCC Annual General Meeting.
He highlighted that uncertainties and disruptions have become the norm globally, emphasizing the need for businesses to adapt. “We are seeing uncertainties and disruptions across the board. While it’s not good for business or ease of living, we have to navigate and continue. Otherwise, you cannot progress in today’s world,” he said.
In the hospitality sector, ITC has been operating a hotel in Nepal under a management contract since 2024. Additionally, a second property is already in the pipeline, signaling the company’s continued confidence in the region.
Describing the current business environment as a “very complex environment,” Puri introduced the concept of TURN – Turbulence, Uncertainties, Rapid Change, and Novel Strategies – as the framework companies must adopt to thrive.
He also pointed out that global geopolitics and geoeconomics are major drivers of these disruptions, compounded further by the growing impact of climate change. “Regulations are tightening, and non-tariff barriers are also increasing,” Puri noted.
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https://www.freepressjournal.in/business/itc-stands-firm-on-long-term-investment-plans-in-nepal-despite-recent-unrest