Jump to full article: The Hindu Online (in), 2008-07-30
Intro: ITC Ltd Chairman Y C Deveshwar on wednesday said that owing to the restrictive regulatory environment it is difficult to make the tobacco business grow and for the same reason company has diversified into other new areas.
Deveshwar said that cigarettes, the traditional product from ITC, were being taxed disproportionately at rates higher than other forms of tobacco consumption.
"The cigarette business is operating in a restrictive regulatory regime," Deveshwar said.
He said that there was need to "create other legs of growth for which ITC has ventured out in new areas like FMCG".
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