ITC’s Innovation Hub Hits Half-Century; Eyes More Breakthroughs And Accomplishments

New Delhi

ITC Life Sciences and Technology Centre, the R&D powerhouse of the conglomerate, has completed a milestone-filled 50 years. Located in Bengaluru, Life Sciences and Technology Centre (LSTC) has served as the innovation hub for ITC.

Highlighting the crucial role played by LSTC in the growth journey of ITC, Chairman Sanjiv Puri said, LSTC has the distinction of being the largest private sector innovation centre in the country and has continued to scale up to address the growing needs as ITC pursues its path of multiple drivers of growth.

Outlining the significance of research and innovation in a world driven by uncertainties and social inequity, he said: It is innovation, research, application of science and technology that will help us find solutions to challenging situations that we have to face. It is science that can convert certain challenges into opportunities. Science and technology can open up new pathways for growth and sustainability.

Emphasising that there is immense opportunity for innovation in all segments of business that ITC is present in, Puri said building the right ecosystem within and outside is extremely important for achieving success. LSTC boasts of a stellar team with collective experience of over 4,000 years of R&D and innovation experience. LSTC has been ranked as a top innovator in India in the private sector with over 800 patent applications filed. Leveraging the innovative solutions developed by LSTC, ITC has launched over 300 products in the past three years. Some of its unique innovations include the world's smoothest chocolate, gel bar soaps and sustainable packaging solutions.