ITC Warns Higher Cigarette Taxes Could Fuel Illegal Trade And Boost Smuggling Across India

ITC has cautioned that higher taxes on cigarettes could encourage illegal trade and smuggling, posing challenges for the legal tobacco industry. The company also highlighted that nearly 94% of its business is linked to agriculture and plantations, while emphasizing innovation and science-led tobacco products as key long-term growth drivers. The management believes that excessive tax hikes could distort the market and impact legitimate businesses. Watch this video to understand ITC's latest commentary, the implications for the tobacco industry, and what these developments could mean for investors tracking the FMCG major.