Procter & Gamble India (P&G) announced on Thursday that it is setting up a Rs 400 crore India Growth Fund to collaborate with local suppliers of raw materials, finished goods and services and market innovations.
The fund would be a part of the FMCG company’s ‘vGROW’ programme that focuses on collaborating with startups and small businesses, to offer innovative solutions for the fast-moving consumer goods industry.
Madhusudan Gopalan, CEO, “P&G has been making in India for decades and we are committed to the vision of self-reliant India. More than 95% of the products we sell in India are manufactured locally. We also export finished products manufactured in India to more than 120 countries. In line with our commitment, we are setting-up P&G’s ‘India Growth Fund’ to collaborate with partners on building capacities that will further localize manufacturing of finished products, procurement of raw materials and packaging materials, and adopt innovative solutions that enhance our go-to-market technologies which will enable us to serve our consumers in India.”
P&G India reportedly produces more than 95 per cent of the products within the country. It also exports finished products to more than 120 countries.
