Diversified conglomerate ITC Ltd is said to invest Rs 20,000 crore in the medium term to expand its manufacturing footprint across sectors, Chairman Sanjiv Puri said on Friday.

As part of its growth strategy, the company has already set up eight new manufacturing facilities in recent years, he added.

Puri said the company will prioritise its ‘Bharat First’ strategy-focusing on deepening its domestic presence, before making a significant overseas impact. He added that new brand launches are aimed at driving value accretion.

65% of the company’s revenue is from non-cigarette business, Puri said.

The Paperboards, Paper & Packaging Segment of the company witnessed a challenging operating environment, with low-priced Chinese and Indonesian supplies in global markets including India, soft domestic demand conditions, leading to subdued realisations.

ITC’s portfolio of over 25 world-class Indian brands represents an annual consumer spend of over 34000 crores and reach over 260 million households in India, the company said in a report.The company is setting up an integrated consumer goods manufacturing plant in Sandilla, Uttar Pradesh.