Procter & Gamble (P&G) Announces Rs 400 Crore ‘India Growth Fund’ For Innovation And Tech
To accelerate the government’s vision to make an Aatmanirbhar Bharat, Procter & Gamble (P&G) has announced a Rs 400 crore fund, ‘India Growth Fund.’
The fund will focus on innovations and tech and provide inclusive growth in India through external partnerships.
‘India Growth Fund’ is part of P&G India’s ‘vGROW’ programme. The programme aims to collaborate with startups, small businesses, individuals, or large organisations, offering innovative industry-leading solutions.
The vGROW platform engages with over 2,300 Indian suppliers, which include various startups, small businesses, and large organisations from a wide range of industries and services.
Talking about the fund, Madhusudan Gopalan, CEO at P&G Indian Subcontinent, said,
“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 localise the 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. We are confident that through these partnerships, we will be able to create an eco-system and supplier network that will further enable us to make in India, for India and the world.”
Madhusudan Gopalan added that more than 95% of the products that the FMCG major sells in India are manufactured locally. He also said that P&G exports finished products manufactured in India to over 120 countries.
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