Mumbai, Jan 8: ITC, a diversified conglomerate, said that it had entered into an arrangement with India’s premier Bamboo Research & Training Centre (BRTC), Chichpalli, Maharashtra, for the supply of agarbattis (incense sticks), marketed under the Mangaldeep brand, for its Safety Matches and Agarbatti Business SBU.
Under the terms of the MoU, BRTC will exclusively manufacture and package incense sticks as per ITC’s specifications.
The MoU, signed in the presence of Minister for Finance and Planning, Forests Shri Sudhir Mungantiwar and Principal Secretary Forests Shri Vikas Kharge, Government of Maharashtra, also ensures that ITC will facilitate and assist BRTC as needed to achieve best in class manufacturing with the highest quality standards.
Bamboo is a core ingredient of the agarbattis and ITC will partner BRTC in the requisite technical and manufacturing domains to ensure compliances with its quality and process benchmarks. The agreement
is valid for an initial period of four months and will cover the complete production cycle up to the packaging and storage stage of the finished incense sticks. (UNI)
Commenting on MOU, Ravi Rayavaram, Chief Executive, Agarbatti and Matches Business, ITC, said, 'In line with ITC's Triple Bottom Line philosophy of building economic, environmental and social capital, Mangaldeep agarbattis are manufactured by small scale and cottage units, providing livelihood opportunities for
thousands of people. This agreement with BRTC is yet another meaningful step in that direction and aims to enhance the competitiveness of the small-scale and cottage units through our complementary R&D-based product development and strengths in trade marketing and distribution.' (UNI)