Diversified conglomerate ITC Ltd on Thursday said it plans to invest around USD 2 billion (approximately Rs 14,851-Cr) as part of its 'ITC Next' strategy, under which it will explore opportunities to craft "disruptive business models".

ITC Chairman Sanjiv Puri said the investment would be to beef up capacity to meet demand, to remain competitive and in technology and quality up-gradation and new vectors of growth that it has identified. Besides, ITC is also looking for acquisitions as part of its expansion plans, the spend on which will be over and above its planned investment, he added. The company has identified certain future consumer trends, and any opportunity that aligns with these areas and is value accretive, then we will go forward, Puri said.

"Now, in terms of investments for those kinds of figures, we have been sharing from time to time, I mean, for building capacity to meet market demands in existing segments for inducting state of the art technology in contemporary investments in Digitals and some of the newer areas that we have identified. "We are looking at medium term, we are looking at about USD 2 billion. That's the kind of figure we have. And, of course, inorganic is something that cannot be sized depends on library dollars," said Puri.

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