The Hindu Business Line : ITC to invest $1 b in e-Choupal infrastructure

Corporate - Announcements
Industry & Economy - Rural Development
Agri-Biz & Commodities - E-Commerce & E-Business

ITC to invest $1 b in e-Choupal infrastructure

Our Bureau

Hyderabad , Jan. 3

AIMED at turning more rural communities into vibrant economic organisations, ITC Ltd is planning to invest around $1 billion in strengthening its e-Choupal infrastructure in the next 7-10 years, its Chairman, Mr Y.C. Deveshwar, announced here on Tuesday.

Addressing newspersons on the eve of being inducted into the `Hall of Pride' by the Indian Science Congress here, he said the ITC e-Choupal today reaches out to and empowers 3.5-million farmers in over 31,000 villages by enabling them to readily access crop-specific, customised and comprehensive information.

ITC plans to launch several services such as education, healthcare, credit, insurance and farm inputs through the e-Choupal network soon. Towards providing these services, ITC plans to enter into partnerships with the leading players in the respective service segments, he said.

Over the next decade, the ITC e-Choupal network aims to cover over one lakh villages, representing one-sixth of rural India, and create more than 10 million e-farmers, Mr Deveshwar said.

The company's e-Choupal model demonstrates that the private sector can achieve synergy between creating shareholder value and rendering service to society, he added.

Terming the e-Choupal as one of the highly creative business models, Mr Deveshwar said he has great confidence that the company will achieve a break-even in the e-Choupal business as well. While refusing to divulge the timeframe targets for the break-even, he said, "this business model cannot go wrong."

"Our e-Choupal is fostering inclusive growth and enhancing the wealth creation capability of marginal farmers. We are planning to extend the benefits of e-Choupal wider and deeper into the country's villages by delivering educational services and essential healthcare, thereby enhancing the quality of life in rural India," Mr Deveshwar said.

More Stories on : Announcements | Rural Development | E-Commerce & E-Business

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page