BHOPAL: Diversified group ITC is expecting nearly three-fold jump in turnover of its agri division to touch Rs 18,000 crore in the next five years, driven mostly by procurement and retail initiatives in rural markets.

ITC expects the agri business division to have a turnover of Rs 6,500 crore in the ongoing fiscal, up from Rs 5,672.07 crore in the last fiscal. A majority of the business is generated from its 'e-Choupals', a web-enabled supply chain network in villages and rural hypermarts 'Chaupal Sagars'.

ITC Agri Business Division COO Rajnikant Rai said in the last five years, the agri division has been witnessing an average growth of 15 to 20 per cent.