ITC signs MoU with Bamboo Research & Training Centre to fuel agarbatti business
Bamboo is a core ingredient of the agarbattis and ITC will partner BRTC in the requisite technical and manufacturing domains to ensure compliance with its quality and process benchmarks. The agreement is valid for an initial period of four months and will cover the complete production cycle up to the packaging and storage stage of the finished incense sticks.
ITC has announced that it has entered into an arrangement with India’s premier Bamboo Research & Training Centre (BRTC), Chichpalli, Maharashtra, for the supply of agarbattis (incense sticks), marketed under the Mangaldeep brand, for its Safety Matches and Agarbatti Business SBU.
Under the terms of the MoU, BRTC will exclusively manufacture and package incense sticks as per ITC’s specifications.
The MoU, signed in the presence of Hon’ble Minister for Finance and Planning, Forests, Sudhir Mungantiwar and Hon’ble Principal Secretary Forests, Vikas Kharage, Government of Maharashtra, also ensures that ITC will facilitate and assist BRTC as needed to achieve best in class manufacturing with the highest quality standards.
Bamboo is a core ingredient of the agarbattis and ITC will partner BRTC in the requisite technical and manufacturing domains to ensure compliance with its quality and process benchmarks.
The agreement is valid for an initial period of four months and will cover the complete production cycle up to the packaging and storage stage of the finished incense sticks.
Watch This Zee Business Twitter Video
#LIVE | बाजार के हर कन्फ्यूजन का सॉल्यूशन जानिए #FinalTrade में @AnilSinghviZEE और बाजार के दिग्गजों के साथ। https://t.co/eeH3k5ooXS
— Zee Business (@ZeeBusiness) 8 January 2019
Speaking on the occasion, Ravi Rayavaram, Chief Executive, Agarbatti and Matches Business, ITC, said, “In line with ITC's Triple Bottom Line philosophy of building economic, environmental and social capital, Mangaldeep agarbattis are manufactured by small-scale and cottage units, providing livelihood opportunities for thousands of people.
This agreement with BRTC is yet another meaningful step in that direction and aims to enhance the competitiveness of the small-scale and cottage units through our complementary R&D-based product development and strengths in trade marketing and distribution.”
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
03:08 PM IST