ITC Ltd.’s paperboards & specialty papers business is expanding its sustainable product portfolio and investing in the fast-growing market with “immense growth potential.”
ITC entered the fast-growing premium Moulded Fibre Products (MFP) market via a wholly-owned subsidiary, ITC Fibre Innovations Ltd. In its latest annual report (2023), the company announced establishing a production facility in Badiyakhedi, Madhya Pradesh, to pursue prospects in this fast-evolving market.
The company employs its “InnovPack” campaign to target end-use segments likely to adopt sustainable packaging and plastic substitutes. It stated its “Filo” family of sustainable solutions, including “FiloBev” for cups, “FiloServe” for QSR, bakeries, and food retail, and “FiloPack” for sweets and deep freeze applications, has been gaining popularity in both domestic and foreign markets. OmegaBev and OmegaBev Vio, certified biodegradable by the Central Institute of Petrochemicals Engineering & Technology (CIPET) and registered with the Central Pollution Control Board (CPCB), continue to gain franchise with significant eco-conscious businesses.