ITC’s Das Forecasts Education Unit Sales to Double by March 2014

Chand Das, chief executive of education & stationery products business, ITC Ltd. (ITC), forecasts revenue of his division will double to 10 billion rupees ($184 million) by March 31, 2014. He spoke in an interview.

On marketshare:

“The Indian government-run Sarva Shiksha Abhiyan, which is free primary education for all, will fuel the growth in demand for our products directly.

‘‘Our notebooks have a 16 percent marketshare. We have a strong distribution footprint that will help double our marketshare in the next four to five years.

On imports from China:

‘‘In the last year or so, we are in the process of rapid localization partly because of the rupee, which has depreciated quite significantly. Import from China today is not viable.’’

To contact the reporter on this story: Ganesh Nagarajan in Chennai at gnagarajan1@bloomberg.net

To contact the editor responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net

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