You will recall that in my last annual
communication to you, I had outlined ITC's vision of enlarging its contribution to the
Indian economy. ITC's aspiration to create enduring value for the nation provides its
employees the inspirational motive force to sustain growing shareholder value. I had
called this compelling vision "A commitment beyond the market". ITC practices
this philosophy by not only driving each of its businesses towards international
competitiveness, but by also consciously contributing to enhancing the competitiveness of
the larger value chain of which it is a part.
I had also shared
with you my belief that it is this aspiration that sets apart ITC as a premier
Indian enterprise. ITC, as a truly Indian company, whilst
recognising the need to create a fair reward for shareholders, goes the extra mile, in
partnership with other participants in the economy, to create conducive conditions for
international competitiveness towards maximising value for the Indian society.
The depth of ITC's
commitment to the Indian economy is manifest in the way its diverse businesses contribute
to strengthening their related value chains through R&D, extension services,
IT-enablement and the social and economic empowerment of the marginalised. The most
telling example of this commitment is ITC's pathbreaking initiative in building
sustainable rural partnerships, which carry the potential to transform the landscape of
rural India and the lives of our rural population.
"commitment beyond the market" encompasses the larger social canvas to include
the preservation of India's cultural heritage. ITC is particularly proud of its pioneering
contribution in the area of Hindustani classical music.
As a concerned
corporate citizen, ITC is committed to the highest standards in the key areas of
Environment, Occupational Health and Safety (EHS). ITC strives to sustain and continuously
improve its EHS standards to match the finest international benchmarks.
feature that follows captures ITC's inspired commitment to create and sustain a model that
harmonises service to society with enhancing shareholder value. I am sure you share my
sense of pride in ITC's exemplary efforts.
truly proud to be citizen first.