" If ITC is not into cigarettes then someone else will. If not in India, then it will be imported, smuggled or sold illegally. To the extent it has demand, we will continue in the business because we want the industry to be in responsible hands, he said. "
Kolkata, July 30 - With the government yet to formulate a policy on e-cigarettes, tobacco giant ITC Wednesday said it will engage in talks with the authorities so that it can introduce the product in India.

We are internally ready but we don't have a government policy on e-cigarettes yet. So, we are looking towards engaging in talks with the government on the issue, ITC chairman Y C Deveshwar told media persons after the company's 103rd AGM here.

An e-cigarette is a battery-powered device containing a nicotine-based liquid that is vaporised and inhaled, to simulate the experience of smoking tobacco.

Admitting that the cigarettes segment was under pressure because of increasing taxation, Deveshwar said the company will persist with investing in the segment while continuing to robustly diversify especially in the FMCG segment.

If ITC is not into cigarettes then someone else will. If not in India, then it will be imported, smuggled or sold illegally. To the extent it has demand, we will continue in the business because we want the industry to be in responsible hands, he said.

Asserting that higher taxation has not curbed the use of tobacco but only shrunk cigarette consumption, Deveshwar urged for an equitable approach to taxing cigarettes.


comments powered by Disqus
Read more on:
 

PERMALINK

http://www.nerve.in/news:2535002392215
You can quote the permanent link above for a direct link to the story. We do not archive or expire our news stories.


STORY OPTIONS
  Email this story to a friend
  XML feed for India


 
COPYRIGHTS INFORMATION
All rights reserved for news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.
Contact Nerve Staff for any feedback, corrections and omissions in news stories.
 

All rights reserved for the news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.