ITC's share of the Indian cigarette market: ~84.27%
Number of smokers in India: 120 million (~12% of the world's smokers)
Annual deaths due to tobacco related illnesses in India: 10 million.
One. Crore. People. Annually.
From 1998 to 2015, number of men smoking in India rose by 36%.
Y C Deveshwar was the executive chairman of ITC from 1996 to 2017. He passed away yesterday. Glowing obituaries will tell you that this man, conferred with the Padma Bhushan, "transformed" ITC such that 59% of its revenue is now from the non cigarette business, and 80% of its non operating capital is deployed in this business.
What they fail to tell you is that almost the entire profit of ITC still comes from the cigarette business. This man presided over a manifold increase in the turnover and profitability of ITC's cigarette business. While revenue and profits soared, ITC's contribution to cancer and tobacco related illness research was zilch.
When men like this are allowed to control the media, you get articles like this. Revolting.
https://www.thehindu.com/business/Industry/itc-chairman-yc-deveshwar-passes-away/article27101796.ece
Cause of YCD's death: cancer.
Number of smokers in India: 120 million (~12% of the world's smokers)
Annual deaths due to tobacco related illnesses in India: 10 million.
One. Crore. People. Annually.
From 1998 to 2015, number of men smoking in India rose by 36%.
Y C Deveshwar was the executive chairman of ITC from 1996 to 2017. He passed away yesterday. Glowing obituaries will tell you that this man, conferred with the Padma Bhushan, "transformed" ITC such that 59% of its revenue is now from the non cigarette business, and 80% of its non operating capital is deployed in this business.
What they fail to tell you is that almost the entire profit of ITC still comes from the cigarette business. This man presided over a manifold increase in the turnover and profitability of ITC's cigarette business. While revenue and profits soared, ITC's contribution to cancer and tobacco related illness research was zilch.
When men like this are allowed to control the media, you get articles like this. Revolting.
https://www.thehindu.com/business/Industry/itc-chairman-yc-deveshwar-passes-away/article27101796.ece
Cause of YCD's death: cancer.