Tobacco Industry Likely To Suffer Loss Due To Newly Proposed Rules

Following government's new and stricter rules regarding tobacco sale in India, companies such as ITC and Godfrey Phillips are expected to face severe blows. According to Reuters report, entities contributing to the $12 billion tobacco industry have started opposing the new rules. Reportedly, ITC generated a whopping $6 billion from cigarettes alone in FY2020. The Federation of Retailers Association of India has claimed that the changes have been brought to destroy the small retailers.