Kolkata, Feb 11: Cigarette-to-hotel-to-FMCG major ITC Ltd on Friday said it has planned to set up multi-speciality hospitals in order to tap medical tourism segment in India by leveraging its expertise and knowledge in hospitality sector.
The firm sought shareholders' nod through a special resolution for altering of the objects clause of the memorandum of association of the company to facilitate getting into healthcare space.
"In the context of your company's vision to sub-serve national priorities which has driven the Company's operations, diversification initiatives and CSR policies and practices, the Board of Directors of your company have recommended exploring and entering the area of healthcare in India, inter alia, by way of setting up state of the art world class multi speciality hospitals," the company notice said.
"Such initiative would leverage the Company's repertoire of knowledge and experience in the hospitality and tourism sector and can be utilised for supporting 'medical tourism' for the country using the multi speciality world class facilities," it added.
The company had said its board of directors at a meeting held on January 27 "recommended for the approval of the members, enlargement of the objects clause of the memorandum of association of the company to include 'healthcare', such approval to be taken by means of postal ballot and e-voting".
ITC is India's largest tobacco firm that also makes a host of non-tobacco FMCG (Fast-moving consumer group) products. The company aspires to be the number one player in the non-cigarette FMCG business and set a revenue target of Rs 1,00,000 crore by 2030.