Condolence message on the passing away of Mr Y C Deveshwar

May 11, 2019

India has lost an illustrious businessman

NEW DELHI, 11 May 2019: The Federation of Indian Chambers of Commerce and Industry (FICCI) deeply mourns the passing away of Mr Y C Deveshwar, Chairman, ITC Group.

"Mr Deveshwar will be remembered as a celebrated business leader both at home and abroad for his illustrious contribution that transformed ITC into a multi-business conglomerate," said Mr Sandip Somany, President, FICCI.

The dynamic leader, whose name had become synonymous with ITC for leading it as its chairman for over two decades, transformed the company into a conglomerate with wide interests in FMCG, hospitality, packaging and agri-business. He joined ITC Ltd in 1968 and its board in 1984.

He was one of the few CEOs who saw business and welfare together in India's vast countryside where the company launched e-Choupal linking directly with the farmers to procure their produce for its business in the FMCG space.

FICCI had the honour to present several awards like Outstanding Vision Corporate Triple Impact Award and Outstanding Achievement in Rural and Community Development to ITC Ltd under the leadership of Mr Deveshwar over the years.