ITC agri business doubles revenue to ₹20,300 crore, targets 10 million farmers by 2030

ITC says its agri business has become India’s largest private-sector agri enterprise after doubling revenue in just over five years. The company plans four additional fresh-produce clusters and aims to expand ITCMAARS from 2.6 million farmers to 10 million by 2030.

— Source publishedThu, 23 Jul, 2026, 21:42 IST·First seen Thu, 23 Jul, 2026, 21:50 IST·Source BL · Consumer & Economy

What happened

ITC said its agri business doubled revenue to nearly ₹20,300 crore in FY26. It plans four fresh-produce farming clusters and will expand ITCMAARS, which has

Key facts

  • ₹20,300 crore FY26 agri-business revenue
  • Revenue doubled in just over five years
  • 94% of ITC businesses linked to agri-crops or plantations
  • 21 value chains across 23 states
  • Nearly 6 million tonnes of agri-produce sourced
  • 2.6 million farmers onboarded across 11 states
  • 10 million farmers targeted by 2030
  • 15-20% estimated crop-yield gains
  • 25-30% estimated improvement in farmer net returns
  • 4 additional hybrid agriculture clusters planned
  • 33% five-year CAGR for value-added agriculture portfolio

Why this matters

ITC’s expanded farmer platform and fresh-produce cluster strategy make it a more formidable partner or competitor for agri-tech, food supply-chain and rural-services businesses.

What to watch

  • Quarterly agri-business revenue growth and margin disclosure, especially whether growth remains volume-led rather than commodity-price-led.
  • Active ITCMAARS farmers versus registered farmers, repeat transactions and farmer retention rates.
  • Announcement and operating status of the four planned fresh-produce clusters.
  • Evidence of higher direct procurement share, lower sourcing volatility or improved gross margins in ITC Foods.
  • Capex commitments in cold chain, packhouses, warehouses, processing and digital infrastructure.
  • Farmer realization, payment-cycle performance and any pushback from mandi intermediaries, FPOs or local regulators.
  • Monsoon outcomes, crop-price inflation, export restrictions and food-policy changes that affect agri trading economics.
  • Add four fresh-produce clusters near high-demand urban consumption corridors and crop-specialist regions.
  • Expand ITCMAARS beyond advisory into crop planning, quality assessment, market linkage, input partnerships, finance and insurance referrals.
  • Use farm-level demand and supply data to secure sourcing for packaged foods, hotels, restaurants and institutional customers.
  • Invest in grading, packhouses, cold storage, reefer logistics and processing capacity to reduce perishability losses.
  • Seek partnerships with agri-fintechs, insurers, banks, state governments and FPOs to accelerate farmer acquisition and service adoption.