Sanjiv Puri, chairman of ITC, stated that the conglomerate has partnered with approximately 45 startups in order to help employees develop agility and an entrepreneurial mindset at a time when small businesses are increasingly disrupting large businesses.

According to Puri, who is also the managing director of ITC, the conglomerate is working with startups in the consumer space, social commerce, content creation, distribution, packaging, and agritech solutions, among others.

"Our focus as an organisation is on how to remain consumer-centric and resilient; how to dial up on the digital journey and press the accelerator on purposeful innovation," Puri told ET. "All of these multifaceted initiatives work together to make the organisation more agile and nimble, paving the way for long-term growth."

According to the ITC CEO, the company has invested in startups both directly and through venture capital funds. "The idea is to look at new-age opportunities holistically rather than in isolation," he explained.

So far, ITC has made direct investments in startups such as YogaBar in the food and health category, Mothers Sparsh, a baby care and mother care products company, and Mylo, a baby care and mother care content-community-commerce platform.

It has also made investments in startup-focused funds like Fireside Ventures and Chiratae Ventures. The conglomerate also collaborates with startups from various industries. For example, it has collaborated with logistics firm Shadowfax on e-store delivery and with Zepto on quick-commerce online sales.