This Eleventh Sustainability Report covers the sustainability performance of the Company for the period from April 1, 2013 to March 31, 2014. We report our performance on an annual basis and the last Sustainability Report was published in June 2013.

ITC is headquartered at Virginia House, 37 J L Nehru Road, Kolkata, 700 071 (India).

The contact point for any clarifications on the Report or for requesting additional copies of this Report is Corporate Communications Department at the above address or e-mail: enduringvalue@itc.in.

The reporting principles and methodology are in accordance with the "Comprehensive" option of the fourth generation Global Reporting Initiative (GRI) Sustainability Reporting Guidelines – G4. The Reporting Principles and Standard Disclosures and the Implementation Manual under G4 Sustainability Reporting Guidelines have been followed for reporting on the General and Specific Standard Disclosures. In addition, Sustainability issues for relevant sectors were also considered for materiality identification of ITC's various businesses. The relevant aspects/indicators from GRI-G4 Food Sector supplement have also been considered while reporting the Foods Business performance.

For the 2014 Report it was decided that the reporting boundary would include significant 100% subsidiary companies only. Accordingly, Bay Islands Hotels Limited, Srinivasa Resorts Limited and Surya Nepal Private Limited have been excluded from the reporting boundary of 2013-14. These three subsidiary companies do not materially impact ITC's sustainability performance during the reporting period.

G4-17, G4-20, G4-21, G4-23

This Report highlights the Triple Bottom Line dimensions that reflect the organisation's significant economic, environmental and social impacts, or substantively influence the assessments and decisions of stakeholders. Our Businesses/Units continue to proactively engage with key stakeholders, who either have a major interest or are significantly affected by our operations, products or services. The details on stakeholder engagement are covered elsewhere in the Report.

We continue our efforts to influence sustainability practices along the value chain and we intend to extend the process in the years to come, to cover all our significant suppliers. In this year, we have incorporated the performance of 20 exclusive Third Party Manufacturing (TPM) units catering to the Notebooks segment of the Education and Stationery Products Business and ATC Limited, an associate company of ITC as part of our supply chain.

The economic performance reported here is from the Company's Report & Accounts (R&A) 2014, audited by independent External Auditors - M/s Deloitte Haskins & Sells.

The data in the environment & social sections of the Report is based on actual performance of the various businesses, factories, hotels and large offices of the Company and the subsidiary ITC Infotech India Limited. A comprehensive Integrated Sustainability Data Management System has been implemented across the Company to collect, collate and analyse the sustainability performance data of each business. Robust internal systems and controls ensure the overall integrity and credibility of the disclosures in the Report.

In order to obtain an objective and impartial opinion or conclusions on the Report, ITC has been seeking assurance from independent professional assurance providers on all the Sustainability Reports since we started reporting in 2004. In the current year, authenticity of the data and systems disclosed in Sustainability Report 2014 and conformance with 'in accordance' - comprehensive requirements of the GRI G4 guidelines has been verified by M/s KPMG, an independent third party assurance provider. They have conducted the assurance engagement as per the International Standard for Assurance Engagements (ISAE) 3000 and have provided reasonable assurance - the statement of which forms a part of this Report. Summary of work performed by KPMG, the manner in which the assurance engagement has been conducted, the extent to which ITC has applied the GRI G4 Guidelines and the conclusions on the Report are provided in the Assurance Statements section of this Report.

G4-17, G4-20, G4-21

Reporting Boundary

ITC Head Office: Kolkata (West Bengal)

G4-17, G4-20

The following subsidiaries are included in the ITC's Consolidated Financial Statements but are not included in the Sustainability Report 2014:

Names of Subsidiaries	Remarks
Srinivasa Resorts Limited	*
Fortune Park Hotels Limited	*
Bay Islands Hotels Limited	*
Surya Nepal Private Limited	*
Landbase India Limited	*
BFIL Finance Limited
MRR Trading & Investment Company Limited (a 100% subsidiary of BFIL Finance Limited)
Russell Credit Limited
Greenacre Holdings Limited (a 100% subsidiary of Russell Credit Limited)
Wimco Limited	*
Prag Agro Farm Limited (a 100% subsidiary of Wimco Limited)	*
Pavan Poplar Limited (a 100% subsidiary of Wimco Limited)	*
Technico Pty Limited	*
Technico Technologies Inc. (a 100% subsidiary of Technico Pty Limited)	*
Technico Agri Sciences Limited (a 100% subsidiary of Technico Pty Limited)	*
Technico Asia Holdings Pty Limited (a 100% subsidiary of Technico Pty Limited)	*
Technico Horticultural (Kunming) Co. Limited (a 100% subsidiary of Technico Asia Holdings Pty Limited)	*
ITC Infotech Limited (a 100% subsidiary of ITC Infotech India Limited)	*
ITC Infotech (USA), Inc. (a 100% subsidiary of ITC Infotech India Limited)	*
Pyxis Solutions, LLC. (a 100% subsidiary of ITC Infotech (USA), Inc.)	*
Wills Corporation Limited
Gold Flake Corporation Limited
King Maker Marketing, Inc.
WelcomHotels Lanka (Private) Limited	*
ITC Investments and Holdings Limited
North East Nutrients Private Limited	*

The following Jointly controlled entities (incorporated Joint Ventures) are included in ITC's Consolidated Financial Statements but are not included in the Sustainability Report 2014:

The following Group's Associates are included in ITC's Consolidated Financial Statements but are not included in the Sustainability Report 2014:

Name	Remarks
Gujarat Hotels Limited	#
International Travel House Limited	#
Russell Investments Limited
Divya Management Limited
Antrang Finance Limited

*	ITC is currently in the process of defining the system for inclusion of these entities in the Sustainability Reporting boundary. Going forward the performance of these entities against identified material aspects will be reported in a progressive manner.
#	These entities will be progressively brought within the reporting boundary as part of ITC's supply chain based on identified material aspects.
	These entities primarily invest in financial market instruments and do not have any material sustainability impacts.

G4-17